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I have paid all of my bills for April at this point. So here is the current update of my debt. I managed to reduce my credit card debt from 6.61% to 6.66% my goal is to completely have the $3800 amount completely paid off by the end of the year. My mortgage debt was paid down by 0.3% from March to April.

I have paid all of my bills for March at this point. So here is the current update of my debt. I managed to reduce my credit card debt from 3.21% to 6.61% my goal is to completely have the $3800 amount completely paid off by the end of the year. My mortgage debt was paid down by 0.3% from February to March.

I just wanted to share some debt reduction methods. Most of these are common sense, however, common sense doesn’t seem to be all that common. The hardest thing do when trying to reach a goal is starting. So here are a few rules that will guide you along the way.

Get Out of Debt Faster List:

1. Stop using you credit cards.
This is the first step to get out of debt faster. Just remove your cards from your wallet or purses. Without this temptation in your possession the likelihood to go further into debt will be reduced.

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If you choose to only pay the minimum payment on a credit card each month you will not see the balance move to significantly. Not only will it take more time to pay off your debt, but the finance charges on your unpaid balances will increase the total amount of your original debt. If you were to charge $4000 on a 17% interest rate card and only make the minimum payments and charge nothing else, it could take you up to 23 years to repay your debt. So if you can afford to pay more than the minimum payment do that. It will help to reduce your outstanding balance sooner.