Getting out of Credit Card Hell
Filed under: General Budgeting, Interest Rates, Credit Cards & Mortgages in NZ, Property & General Investing, Retirement, Pensions and Kiwisaver, The Book and Website
I am now a firm believer in that you should never had a balance on your credit card that you cant pay off every month. But if you are the position of having a balance you need to find a way of getting rid of it as soon as possible. Credit card debts, especially now – are the sort thing you do not want to have in your financical life.
I was sent a link from one of my Twitter Followers to Mint.com with an amazing diagram showing you one of the ways you can do this. You start at the bottom of the Picture and work your way up to freedom.
This is slightly different to the method listed in Avalon’s Guide – but hey – there is more than one way to turn your life around – and it is up to you to check out which suits you best.
Click on the Picture to go to Mint.com and see the full version:
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Related posts:
- Why are Credit Cards still charging such high interest rates in New Zealand?
- Applying for a new credit card.
- What does your credit card bill say about you?
Comments
3 Comments on Getting out of Credit Card Hell
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Domestic Executive on
Fri, 10th Jul 2009 1:07 pm
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Avalon on
Fri, 10th Jul 2009 2:57 pm
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Hubby on
Sat, 11th Jul 2009 10:01 pm
Great link. I got myself into CC hell when I was in University and shorly after. I found myself with no money everymonth even when I was earning a good age to try and pay it off. In the end I did get an unsecured loan and got it cracked. I now always pay off my credit cards every month. It was definitely a lesson learned.
Me too. I didnt get things sorted until after one of our Trips to NZ, by the time we emigrated we were out of debt. It was one of the reasons for writing the book – the lack of stress that comes with not having debt is something I am really chuffed to have been able to give us both.
I just thought that was such a great graphicla way of seeing the journey 
Debt? what’s debt? Oh yeah – that thing you have to take out to buy a house.
Still, the joy of having money in the bank to pay cash for all sorts of stuff is really great!
On the days when the budgeting feels tough, I just have to remember the freedom of having a Sanity allowance, knowing we’re secure with no debt and savings in the bank – with a mortgage which is being chomped down every day.
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and oh, if you want a pic to show with your comment, go get a gravatar!
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