With current credit card interest rates hovering around 20%, many find themselves stuck in a financial rut, right ahead of the holiday season when money is needed most.
Here are three effective ways to start cutting down your credit card debt:
- Use a debt relief service: They can directly negotiate with your creditors to reach a settlement figure you’re comfortable with… Or consolidate your debt into one, more manageable loan.
- Consider a passive income gig: A second job might help you make ends meet (and reduce debt) but it’s not alway practical… There are a variety of passive income jobs that you can pursue right now.
- Reconsider your budget: While we may all think we’re doing our best to save money and pay down debt, there’s likely room for improvement. So strongly reconsider your budget.
While these are three ways to cut credit card debt ahead of the holidays, they’re not the only ways. There are myriad options to choose from, but the most important is just getting started.
Happy Holidays from The Control Group!