What to do with your credit card debt now that the Fed raised rates again | CNN Business

What to do with your credit card debt now that the Fed raised rates again

           

https://www.facebook.com/cnn/posts/10163502414031509

Carol Murphy yup just like Biden's making it able for companies to use their employees retirement for investments, that's helping people. paying double for everything, yeah that's helping people. being focused more on climate change, instead of actual problems going on in the country, yeah that's gonna help people. Biden can't even allow for a bill to be passed if republicans had anything Todo with it including the recent bipartisan bill. It's sad to see that we have a present who puts his own personal interest ahead of everyone else, despite the consequences on the economy, btw he's about to try and spend another 6.8 trillion adding to this country's debt, and yet again that includes raising taxes (republicans are against).


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1. Prioritize Your Payments: Start by prioritizing what debts you will pay off first, such as focusing on high interest credit cards. Try to make more than the minimum payment each month in order to reduce your total balance as quickly as possible.

2. Consolidate Your Debt: Consolidating your debt can help you reduce the amount that you owe, as well as reduce your overall interest rate and the number of payments that you have to make each month. You can do this by taking out a personal loan at a lower interest rate or transferring the balances of your high-interest credit cards to a card with a lower APR.

3. Make More Than Minimum Payments: Paying more than the minimum due each month will help you get out of debt faster and save you money in interest over time. Make sure to check if there are any fees associated with making extra payments before doing so.

4. Cut Unnecessary Expenses: Take a look at where your money is going and cut out any unnecessary costs like dining out or subscription services that aren’t necessary for your lifestyle right now. This helps free up more cash flow to put toward paying down your debt faster.

5. Negotiate With Creditors: Once you’ve taken steps to prioritize and consolidate your debt, reach out to your creditors and see if they are willing to negotiate on any late fees, APR rates or other costs related to owing them money.




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