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How I Eliminate My Credit Card Debts

Updated on September 22, 2010

Want to know how I eliminate my credit card debts? Read on.

Years back at one time maximum I owned 5 credit cards!!! The debts that I accumulated were so huge that every month all my salary went into paying them instead of going into my saving.

I had a ‘wealthy' lifestyle then. Why not? I can slash my card now and pay later. That was my naïve thinking.

Until one day I say to myself "I gotta stop using credit cards or else I won't save at all".

I start by canceling 3 of my 5 credit cars. I keep 2 of the best credit cards based on the privileges the credit cards offer such as annual fee waived, lower interest rate and points accumulation.

Next I stop using these 2 credit cards for a period of time until all my old debts are paid off. It was very difficult at first. The temptation to buy was there and I tried to keep to my own words. To stop my buying temptation, I keep both my credit cards at home. I bring only a small amount of cash with me.

6 months later, I was so happy with my achievement. I was DEBT-FREE!!! Yippee!

Now I have 2 of my best credit cards in my purse but I rarely use them. It's all about self-control and asking yourself whether it's worth what you're buying. Whether you'll really be using the stuff you buy. Oh yes and I get to save now. :)

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