Comments on: How to Eliminate Credit Card Debt http://www.where-does-it-go.com/finance/credit-cards/how-to-eliminate-credit-card-debt/201 Keeping tabs on personal finance £1 at a time Sat, 01 Aug 2009 23:33:06 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Simon @ shrewdcookie.com http://www.where-does-it-go.com/finance/credit-cards/how-to-eliminate-credit-card-debt/201/comment-page-1#comment-1301 Simon @ shrewdcookie.com Sat, 01 Aug 2009 23:33:06 +0000 http://www.where-does-it-go.com/?p=201#comment-1301 One technique for reducing your credit card (or any other) debt is called "snowballing" - here you pay the minimum amount on all debts except for the one charging the highest interest rate. This one you hit hard until it is completely repaid - the psychological benefits of seeing one less credit card debt to worry about are very positive - as well as saving you a considerable amount of money in the long run. Cut up those evil little cards - should, by law, be renamed "debt cards". Here is an article I wrote on "snowballing" which your readers might be interested in seeing. http://www.shrewdcookie.com/debt/debt-snowball-repay-your-debts-quicker One technique for reducing your credit card (or any other) debt is called “snowballing” – here you pay the minimum amount on all debts except for the one charging the highest interest rate.

This one you hit hard until it is completely repaid – the psychological benefits of seeing one less credit card debt to worry about are very positive – as well as saving you a considerable amount of money in the long run.

Cut up those evil little cards – should, by law, be renamed “debt cards”.

Here is an article I wrote on “snowballing” which your readers might be interested in seeing.

http://www.shrewdcookie.com/debt/debt-snowball-repay-your-debts-quicker

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