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Oct 29, 20232 min read

Credit card interest rates are rising. How do you get out of Debt?

With inflation eating at your budget and credit card interest rates rising to over 20% it is getting hard to pay off your credit card debt. There are 2 important steps to reducing and eventually eliminating the debt. First stop putting anything on the credit card as the interest starts the day you make the purchase. This also means that a small portion of that minimum payment will actually go to paying down the debt. The second step is to pay something even $5 every time you get paid. Don’t wait until the due date to make a payment as you are charged interest daily. The last and possibly most helpful step is to make a budget or relook at your budget and see where you can find any savings You may be pleasantly surprised how the $15 a week you save by switching from weekly delivery pizza to frozen pizza starts adding up and reducing your debt For a better understanding of budgeting check out one of our books on Financial Independence


Financial Independence for Children, Teens, and Adults is a 6-book series written to empower financial literacy and facilitate financial solvency among youth and adults alike. Each book is focused on a specific population with stories and examples tailored for connection to the audience, and ease in understanding and application.


Check out our books sold on Amazon. The series includes Financial for Women by Women, Financial Essentials for Couples Financial Essentials, s, Budgeting for Women by Women (minibook Raising Financially Independent Children, and Financially Independent Teens website https://parentsfin.wixsite.com/website/books or on Amazon


#Moneysmartwomen # moneybookforwomen # Investingforwomen




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