We currently owe $957 Billion or more on credit cards. One of the best ways to eliminate credit card debt or any kind of debt is through debt stacking. I have made several posts about debt stacking in the past.
I have several resources you can use to set up your very own debt stacking plan.
1. I the book "How to Beat Banks and Credit Cards at the Money Game"
2. Is a finance program you can use to set up a debt stacking plan.
Both are excellent to help you accomplish your financial goals through debt stacking.
How to use debt stacking? It is very easy you take all the money you are paying on your credit cards or bills over the required minimum. Most people usually pay $20 to $50 extra on a couple bills to attempt to get out of debt.
The little secret is that this is not very efficient. It will work, but not as well as debt stacking. I was with a client once and they paid off one car and wanted to use the extra $300 to pay off the other car. However, this car still had a balance of $12,500. They had several credit cards with a with less than $2000. Debt stacking looks to free up money by paying down lower balances first. By following a plan like this can increase the amount to pay on other bills.
The best way to do this is to purchase a software product to accomplish a debt stacking plan. The amount you pay is minimal considering the amount of interest you will save on your credit cards, sometimes $20,000 or more.
The program will show exactly how much you are currently paying by following your plan. What makes this program unique is that it will take the extra money you were paying and give you an exact plan for you to follow.
I have used a program similar to this one and it is almost exactly the same. The only difference is that is won't charge you a single dime to update the plan. Follow this link to the program. CLICK HERE
Visit http://www.debtstrength.com
Credit Card Debt has some great information. What are your thoughts about using Direct Credit Solutions for credit card debt help.
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