If you’ve taken the time to sit down and write how much money you’ve to pay towards your debt, you might get sick. I myself was in shock for the first time when I totaled the amount to pay my debt payments.

My minimum debt was more than my mortgage. I hated myself for living paycheck to paycheck taking care of other family members and all every single month. I had a very little savings and for God forbid any of emergency occurs I would have to borrow money from someone. Can you relate to his? The best news for now is that I’ll be telling few things to stop living a life of paycheck to paycheck.

If you’re sick of working 40 hours a week and paying all your money to your student loans or car loans, then it’s the right time to make a change and stop taking further loans.

What actually means by “Paycheck To Paycheck”?

It’s likely when someone says they live paycheck to paycheck which means that they are waiting for their next salary to arrive without it they have nothing to spend. They won’t be able to pay their bills or feed themselves or their family. If you’re living paycheck to paycheck you’re not only the one living the same life, but there are 75% of US workers currently living a life of paycheck to paycheck and the good news is that you don’t have to live a life like this forever.

Write A Budget

Writing a budget is the initial step to stop living a life of paycheck to paycheck. People who write a weekly or monthly budget are more likely to be successful with their life. It’s because they are taking care of their expenses and the truth is that you’re giving a direction to your money while writing a budget. You’re not in the charge of money although the money is in your charge. You want to plan a vacation? No issues, add a vacation fund to your budget as well. I know writing a budget can be tricky in the first but when you’re write and follow the budget for the first few months you will be expert enough to write a budget that matches your lifestyle.

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.