Arguably the most difficult part about repaying credit card debt is finding how little progress you are making on a month-by-month basis. This slow progress has a lot to do with the high interest costs associated with credit card debt, but also with the lower payments that are being made (let’s face it, even with mortgage rates as low as they are, when you look at your mortgage statement on a month-by-month basis, you are not make much progress there either).
Ideally, you should only look at your credit card statements after several months, at least. Better yet, continue making your regular debt repayment payments and review the statement after a year.
There are two other things you can do so that you see progress and get to feel encouraged by paying off debt. Continue reading ‘Two Tips on How to Repay Debt Quickly’ »