4 Suggestions for Finding Money to Pay Credit Card Debts
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If you’ve got some heavy credit card debts, your key priority has to be to pay down some of your debt so that you can start getting financially on top of things again, and you can start planning for the future. A recent article at About.com had some great suggestions for ways you can find some money to start reducing your credit card bills:
- Cash in a cash value life insurance policy - especially if you’re young, it is probably worth more to you as a payment against your debt than a payment in the unlikely event of your death.
- Sell investments like savings bonds or stocks - anything that’s not retirement related. You’ll be earning less in gains than you are paying in interest on your credit card.
- Sell some belongings - for example, on eBay, or through a garage sale. Everybody has stuff they don’t need or use any more lying around, so get rid of it and inject the cash into your debt.
- Cancel subscriptions - plenty of people subscribe to magazines and newspapers which they barely read. Especially with so much information available online for free, if you’re in a phase where you need to focus on paying off a debt instead, it’s a time to go without subscriptions.
Tags: Credit & Debit Cards | Debt Management | personal finance | savings
This entry was posted on Saturday, June 28th, 2008 at 3:30 am and is filed under Credit & Debit Cards. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
