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Dealing with a large amount of credit card debt can be both overwhelming and extremely stressful. You’ll feel stuck, especially when you struggle to make money for payments. Don’t worry though; you can take back control of your finances. There are many effective ways to get the situation back in hand.

Here’s how to get out of credit card debt.

5 Ways On How To Get Out Of Credit Card Debt Click To Tweet

1. Get rid of your credit cards

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If you want to completely get out of credit card debt, the first thing you need to do is get rid of all your credit cards. That’s right – you need to chop off every single one of them. 

Stop listening to famous people telling you that anyone can become a responsible credit card owner. This is highly unlikely — keeping your credit cards will only put you in even more debt. 

Now, with that said, do not close your credit account. Just do what you can to make it very difficult f to use them. Keeping those accounts open as you pay off the associated debts will raise your credit score, which you will need should you have to buy a home or purchase an automobile

Related: 10 Tips On How To Boost Your Savings Account

2. Pay off the smallest balance first

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You may think it’s better to pay off credit card debt with the highest interest rate. Doing this – especially when you have a $15,000 visa bill – can be rather daunting. Chances are you will want to quit before paying your bill in full.

The problem isn’t in the numbers, but rather in what we’ll call credit card payment fatigue. It’s difficult to see progress with larger obligations. Paying off the smallest balance first will help you feel you’re making faster progress.

These little wins will motivate you to keep paying off the remaining bills.

Hit all but the smallest one with minimum payments and put the most money on the one with the lowest balance. Once it’s paid off repeat the process, working your way up the ladder until they’re all done.

Related: 5 Unique Ways To Save Some Extra Cash

3. Debt consolidation

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Another strategy to get rid of multiple debts is through credit card debt consolidation. Combining all your credit card debts into a single payment makes it easier to get your arms around them. This is effective especially when you can get lower interest rates and you do not have excessive debts.

You can do this by transferring all of your credit card debt into one card or get a fixed rate from a loan to pay off all of your debts. Pay off the loan in monthly installments. Debt consolidation can be a smart move, but you’ll need to be really on board with this.

Related: How To Budget Like Elizabeth Warren

4. Free up more cash

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Extra cash can get you out of debt faster. Review your monthly expenses and track your spending to trim your expenses to free up more money to pay off credit card debt, I

f you have been buying ridiculously priced coffee, consider making your own coffee every morning. A $2.5 coffee drink every day will save you about $900 every year.

Are you paying for monthly subscriptions that you do not use? Make your own meals at home rather than eating out as often.

Related: 5 Tips For Young Adults To Manage Their Money

5. Commit to paying all of your credit card debts

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It will take a lot of self-discipline to be able to get out of debt but it’s definitely doable. There are smart moves that you can make such as consolidating all of your debts. Through debt consolidation, your debts will be a lot easier to manage.

Related: 3 Simple But Effective Ways To Save Money

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