Tips for paying off credit card and saving $$$?

Hello everyone! I have a credit card debt of $9300 that I want to pay off asap. I have a job and manage my rent and bills very well, but I want to get stuck in and pay off my credit card debt so I can start saving for a deposit for a house. I would love to hear any ideas or suggestions on how I can clear my debt and save money. Thanks for your time answering this!

Tips for paying off credit card and saving $$$?

Two things to do: cut costs and earn more. You need to have a sense of what you%26#039;re spending money on. For example, if you make $25,000 a year and spend $3 a day buying coffee at Starbucks, you%26#039;re spending 3% of your income on coffee. So you need to write everything down and see what is costing you so much. Cut out extras: you don%26#039;t need cable TV, you probably don%26#039;t need a home phone and a cell phone, you don%26#039;t need to eat out at restaurants, you can borrow movies from the library instead of renting them, etc. But first you need to know what you%26#039;re doing with your money.

Next, you can negotiate the rates on your credit card(s) so that you have lower rates. Call them up and see what they can do for you, ask for lower rates. This will save a lot of money.

After that, consider selling some stuff or getting a part-time job to raise money, and put it all to the debt. You probably have a lot of stuff you don%26#039;t need or use: have a yard sale or sell it on ebay. For example, do you have clothes you don%26#039;t wear, books you don%26#039;t read, exercise equipment you don%26#039;t use? Sell it. Also, a part-time job will help you make money and reduce your debt faster. If you can make just $10 an hour working on weekends, you can put $600 extra a month to paying down your debt (and it%26#039;s harder to spend money while you%26#039;re working).

Oh, and is there any way you can start a part-time business? If so, a lot of your expenses will become tax-deductible.

Tips for paying off credit card and saving $$$?

You might also look at Daveramsey.com, he%26#039;s pretty cool. As you know, the best way to do it is to have a really cheap budget, and don%26#039;t cheat on it. The money just rolls in. You just have to say no to everything. You don%26#039;t need it. You won%26#039;t miss out on a thing by not giving in to the temptation to blow your money on crap. You can get rich, though.

Budget ideas:

Food is expensive, so try to get some hits there. Like, for instance - spaghetti is about $1 for a pound. You can get a can of sauce for 82 cents. It takes a lot of eating to eat it all.

Get your clothes at the consignment store, or other second hand place. Ebay is good for clothes. Top quality clothes on ebay are just dirt cheap. We only buy the very best, because for $10, why not?

Gasoline - find somebody at work and share a ride. You might even enjoy it.

Income - Get a second job. Every place is looking for help.

Tips for paying off credit card and saving $$$?

Saving money- if you subscribe to a newspaper anyway, clip coupons. Adjust temperature in home during hours no one is home to save energy. Take sack lunch to work. Don%26#039;t eat out often. etc.

Paying off credit cards- Snowball seems to work best for most people. Tackle one card at a time. I recommend the card with the highest interest rate. Pay minimums on other cards and put all cash possible toward first card. Once that one%26#039;s paid, move on to the next card until all are paid off.

Tips for paying off credit card and saving $$$?

Write out a strict budget every month

and put as much money towards the

credit card debt as you are able.

Only spend money that has been

budgeted... no cheating.... then,

if you are still not able to pay off

the credit card debt in a timely

manner... get a second part-time

job at night or on weekends and

put the extra money towards the

credit card debt.

Tips for paying off credit card and saving $$$?

Managing your rent and bills did not lead to a $ 9,300. credit card debt.. I would suggest you tighten your spending belt a couple of notches until you have cleared the credit card. You should live frugally, spend only on necessities and pay as much as you can every month or payday until you are clear. The interest expense alone will prolong payment by at least two additional months.