This method of becoming credit card debt free will help you save money and improve your credit card score effectively.

To be very honest, this snowball method has helped thousands of people becoming debt free but I have an alternative method to doing it so which is much faster to pay off your credit card debt.

Our personal financial problem was credit card debt which was around $45,000. To make ourselves look and feel better we tried every single method to pay off your credit card debt. By the time we became debt free, we had almost 10 years of experience in financial services and we had knowledge of money other than what our bank accounts said.

The quickest way to pay off credit card debt is!

When we calculated the numbers that how many years it is going to take to pay off credit card debt through Snowball method it can take around eight to ten years to become debt free. I mean who is going to wait for eight to ten years?

We looked at all the factors doing it so, we created multiple spreadsheets and started calculating what is the factor which is taking long and we finally found out it was high-interest rates.

We calculated that we were paying upto $8000 annually in credit card interest payments with rates as much high as 21%. So we managed to reduce this factor.

$8000 is enough amount for a vacations twice a year. It’s you know around 400 bottles of wine which costs around $25. Paying off our credit card debt will help us give a raise of $8000 annually. What do you think you will do with $8000 if you boss raises your salary. You would have a fancy dinner and book a vacation immediately.