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It’s time to end it.  End your unhealthy relationship with your debt. 

Think about the amount of money you could have to put towards retirement, your children’s future, your dream home, and so much more if you didn’t have those monthly payments to credit card companies, car payments, and store credit cards.

You could have an extra $1,000 or more a month in discretionary income if you just didn’t have any debt.  So how do you go about breaking up with your debt?

It’s simple, stop spending money you don’t have.  Sure, a car loan and mortgage is understandable.  Even college loans are common these days.  But there is no need to have a credit card balance or store card balance. 

Credit card companies make everything sound so amazing

“No interest for the first 18 months.”

“Receive 20% off today’s purchase by using your store card.”

It’s hard to say no. But you must resist the temptation to get into deeper debt.

Here are some great tips to help you get out of your debt:

Call your credit card company and ask them to freeze your interest rate.  By freezing your interest rate you’ll be able to avoid any increases, but you won’t be able to use your card anymore.  Now, not all credit card companies will do this, but it’s worth a shot.

Lower your credit card limit.  Did you know you can call your credit card company to lower your limit?  It’s true!  By lowering your limit you won’t be able to spend as much, which can help teach you discipline. 

Leave your card at home.  If you can, you should leave your credit card at home to avoid the temptation of easily swiping it.  Now, if you’re traveling then you may want to pack your card with you in case of an emergency. 

Start putting extra income towards your monthly payments.  Paying more than the minimum amount each month can help you pay off debt a lot faster.  Remember – the more you’re able to put towards your debt the less amount of interest you’re going to pay.