How I got out of thousands of credit card debt!

Want to get out debt? Well, this plan may work for you!

After deciding it was time for me to get my credit card balances to zero, I really felt this was one of those impossible dreams that lingered in my head. But determined, I decided for once and for all, I was going to be completely credit card debt free! 

How I did it

I first had my “come to Jesus moment” and wrote every credit card debt and small loan balance in my B.A.D.G.E. Financial Planner I created.  From there, I divided each balance by 12 to determine the amount I would need to pay monthly in order to bring the balances to zero.

Next, I had to get creative. I thought of clever ways where I would be able to earn money. This included money earned from self-employment, hobbies, and other sources of income.  For each month, I created expected additional streams of income that I fully committed to reduce my debt.

Throughout my debt reduction plan, I abided by my “just say no plan!” This simply meant, I just said no to incurring additional debt and to spending on items I really didn’t need.  And finally, I said yes to living within my budget.

Keep going

In addition, I kept my template with me during the entire process. This served as a reminder to help me stay on course.  Therefore when I was tempted to purchase a new handbag or a new pair of shoes, I was reminded that a few months ahead I would have a zero credit card balance.

I also need to tell you that the process was challenging and at times, I was unable to pay the amount I committed to on paper. However, these minor setbacks cannot compare to the feeling of being credit card debt free.

So, if you are at a point where enough is enough, then this plan may work for you.

Remember: your choice, your future!

Kemberley Washington is a CPA and professor. Visit her blog at Kemberley.com. Follow her on Facebook or connect with her Twitter. Like, Love, Tweet or Share this post!

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