• Look at your phone bill. Turn off some of those features like call waiting, phone messaging and caller ID and you can save up to $10.00 a month. (We saved $8.95 a month)
• Cut back on magazine purchases to just one and start trading monthly magazines with friends. This will help you save about $4.00 an issue. (We saved $8.97 a month)
• No more bottled water, instead use a water filter pitcher. Saving around $5.00 a case. (We saved $20.00 a month)
• Go for a walk or a run with a friend or family member instead of paying that monthly gym payment. (Savings of $25.00 a month.) If you want the change up your work out go to the library and check out a workout DVD.
Once you have done all the trimming on your budget add up the monthly savings and take those saving and place them toward a credit card debt. Start with the lowest balance first and work your way up.
I created $77.81 saving on my budget by cutting the things from above. I then took those savings and put it toward one of my credit cards that had a $218.00 balance on it and I was making a payment of $25.00 a month on it and not getting anywhere fast. Once I combined my savings of $77.81 to the $25.00 I was able to make a monthly payment of $103.00 a month. That let me pay off this debt in less than three months. Now I am taking that monthly savings and placing it toward another credit card debt of just under $4,000.00 dollars. I was paying $120.00 a month and know I will be able to make a payment of $223.00. This will take me 22 months to pay off that credit card debt. My goal is going to be 18 months; I will find something else to cut so that I can pay it off faster.
If you want to know how long it will take you to pay off your credit card debt log on to http://www.walletpop.com/calculators
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