Overcoming Credit Card Debt

The statistics are really shocking, the average American family household is carrying about $15,000 in “consumer debt”. This is credit cards, revolving credit accounts, small loans, etc. This DOES NOT INCLUDE the major items like a home mortgage or car loans. So no wonder we are over stressed to “make ends meet”.

So the key question is ……..how do we get control and get out of this burden on our cash flow???


The most effective way to corral those numerous credit accounts is a concept called DEBT STACKING.

What it entails is to take the smallest balance account and pay it off as rapidly as you can. Then apply the money you were paying on that account to the next account in addition to what you were spending, and pay it down to zero, Doing the same thing again, take the amount of $$ used on those two accounts and add to the third, paying it off, and “WASH__RINSE__REPEAT until all accounts are paid off.


Very soon you can apply all that budget you had for “credit accounts” and pay off the car loans…… THEN the big hammer. Take that credit AND car note money and pay toward the principle of your mortgage!! Did you know that on a 30year house loan, if you make ONE EXTRA annual payment directly to the principle, you will take 10 YEARS off the length of the loan?? Who wouldnt want to be free and clear in their home ten years early??

Photo by Kittichai Chumanee on Pexels.com

Once you are mortgage free and credit free you might be able to enjoy a little freedom to take that little getaway youve been thinking about. I would get out to the beach and away from the snow and cold, if just to go fly kites on the South Padre Island, Texas!!!

Feel free to comment and give me feedback whether this helps you out or not. CONTACT ME page has my direct info.

Categories financial freedomTags , , , , ,

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