How To Get Out Of Credit Card Debt FAST

Credit cards can be the means to an end.  A very very ugly END. In this article, I am going to review some helpful tips on how to get out of credit card debt and fast.

I’ve been there!  Big mortgage. Several credit cards maxed out.  Just being completely irresponsible.

You can achieve financial freedom.  Really anyone can. You just need the right mindset and habits.

So let’s talk about 5 effective ways to eliminate credit card debt.

#1 – Sacrifice & Communication To Get Out Of Credit Card Debt

Sit down with the family, your significant other and anyone else who has a stake in this.  Everyone needs to get on the same game plan in order to eliminate credit card debt.

You will announce, any non-necessity spending will be completely terminated until further notice.  Non necessity means you are only able to spend money on the necessities like food and shelter.

#2 – Sell Everything To Pay Off Credit Card Debt

Collectively everyone puts a list together of items you do not need or use.  If you have kids and they have toys that they are not using, sell them.  

Create accounts on eBay, Craigslist and Facebook marketplace.   Take 5-10 pics of each items with a good write up and post them on these 3 sites.  Consider having a yard sale as well.

That money is not to be used for anything besides paying down the credit card debt.

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#3 – Create A Side Hustle To Pay Off Credit Card Debt 

There are so many ways to make money.  Many will say, I don’t have the time. But you do.  Having “The Time” is subjective. You know it.

Is there downtime in your currently employment?  Do you have lunch breaks? Do you have weekends off? Are your nights free?

If there is a will there’s a way!  Put every penny of profit into paying down your credit card debt.  

You maybe saying I don’t know what I can do to make money.  Get on Google or YouTube side hustle and see what comes up. For example, you are selling items on eBay.  Maybe you can go to Goodwill or yard sales and pick up items to resell.

Do you like social media?  Maybe you can post real estate related posts for local real estate agents?  And charge $40 per month per agent? Or really any other local businesses that could use the exposure.  

Maybe you have a knack for painting.  Make a flyer and door knock your community and offer to paint the interior of their house or apartment.

There are plenty of ways to make a couple extra hundred bucks a month to put toward credit card debt.

And who knows… This could turn into a life changing event where it leads you to resign from a deadend job.

#4 – Reduce Housing Expense To Reduce Credit Card Debt  

Many people do not live below their means.  And many people pay way too much of their salary into where they live.  Take a look at your current housing expense.

Sacrifice now to have a better future.  If you are paying a high mortgage, consider selling it and downsizing. If you are leasing and the rents are high consider downsizing or maybe move in with someone to reduce the housing expense.

If these are not options, can you rent a room?  Can you rent a garage? Do you have a yard? Can you rent space for someone’s RV?  Do you have a shed you can rent out?  

Remember, every little bit adds up.

Any cost savings here will go directly to paying down your credit card debt.

#5 – Pay Down Process Of Credit Card Debt

Pay down the credit card with the least amount of debt first while doing minimum payment on the others.  Hopefully this one is a quick pay off which will give you momentum and drive.  

Once this credit card is paid off, then put that amount you were paying on that card and apply it to the next one.  Keep doing this until you knock out each card.  

Once these are complete, go after all other debt that doesn’t make you money.  IE – Student loans, car payment and your mortgage. 

Create a goal to become debt free with no mortgage and your life will be completely different.

You can do it.  Follow these 5 steps on how to get out of credit card debt.  It isn’t necessarily going to be easy but it is achievable.  

Thanks for reading this and I appreciate the support!

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