The Best Way To Pay Off $10,000 In Credit Card Debt

Credit card debt is something that seems to stick around with us.  Whenever we try to get ahead, life happens and we charge it. 

$10,000 Credit Card Debt Scenario

If you have a $10,000 credit card with an 18% interest rate you are going nowhere fast.  In the above scenario, even if you were to pay $400 a month on the bill and refuse to put any more debt on the card, it would take you a little over 2 1/2 years to pay off your credit card debt. 

Increase Your Monthly Payment – Easily

So obviously small increases affect our debt payoff substantially.  The idea is to contribute as much as you possibly can to your debt as quickly as you can.  

$1,000 Monthly Debt Repayment

If you were able to pull off putting $1,000 a month towards your debt imagine what you could accomplish!  I know $1,000 may sound unreasonable or unrealistic but I promise you it’s not.  

Should You Move Your Debt To 0% Interest?

If you receive credit card offers in the mail, you may be tempted to move your debt over to one of the cards that offer 0% interest for the first year.  Before you immediately jump on the offer, you need to read the fine print.   

The Best Way To Pay Off $10,000 In Credit Card Debt

- First and foremost – you need a BUDGET. – And your free budget printables! - Cut as much as you can out of your budget and find extra money  - Ensure you have an emergency savings FIRST!  - Increase your income through a side HUSTLE. - Put everything you can towards that debt to pay it off ASAP! (Including Tax Refunds) 

Use A Credit Card Payoff Calculator

I recently created a new calculator that will tell you how long it will take you to pay off your credit card debt! Check out my credit card payoff calculator to find out how much work you have to do. 

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