So, why did you decide to apply for that very first credit card? Did someone tell you that you needed it to be considered a grown up? Were you under the impression that you wouldn't be able to do some things without one.
Was it because you didn't have any money? Did you love how you felt when you made a purchase with it? Did anyone tell you about how awful it would be later in life-when you still couldn't pay off that first card or any of the others ones that you stupidly applied for and maxed out? I don't suppose anyone informed you that you might not be able to buy a house one day because you would be so far in debt that you wouldn't be able to make the minimum payments on any of your plastic accounts.
When you applied for your precious cards, were you aware of the interest rates on those accounts? How about the fact that if your payment was even a day late, that rate would double or even triple? Did you know that if you missed a payment, you would be charged a late fee that might put you over your limit and, in turn, you would be charged an over limit fee? Did you figure out that once this happened, your minimum payment would not cover all of the fees, causing your balance to increase every month? Do you see where I'm going with this line of questioning? Was it worth it? Are you wondering how to fix the horrible mess that you have made for yourself? Me too.
I am very slowly trying to dig my way out of a bottomless pit of debt.
It was so easy to create, but oh, so hard to get rid of.
Not only do I owe massive amounts of money to people that I can't stand, but I have ruined my credit for years to come.
I don't have any amazing tricks or tips on how to get out of debt quickly.
It's an uphill battle.
It takes hard work, self control and will power.
You must turn your obsession with spending money into an uncontrollable desire to eliminate debt.
The first thing you need to do is cut up those credit cards and close your accounts.
It's a difficult thing to do, but once you have done it, you will feel empowered.
The second thing to remember is that you should never apply for another card ever again.
I mean it! To help you in your quest to be debt free, you should set some goals.
Start with your lowest balance, and throw whatever you can at it.
Once you get it paid off you will find that it's exciting to be rid of just one account.
This excitement will give you the energy to tackle the next lowest balance.
Each time you pay off an account, then you can apply that payment to the next account.
You won't have a whole lot of extra money to buy cool fun things, but hey buying things is what got you into this predicament in the first place.
If you truly want to get out of debt, then you need make a lifestyle change.
If you can't make that change, then you will be in debt for the rest of your life.
It will take time, but it will be worth it.
Don't get discouraged, you can do it.
I know you can!