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Family Life > Career & Finances

Getting Out of Credit Card Debt
By: Family First Staff
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 Being debt-free is one of the best feelings there is.  If you've never been debt-free – or, if it's been a long time – give it a try.

Develop a budget/spending plan.  You can find on-line help by going to  http://www.crown.org/tools/budgetguide.asp.

Stop charging.  It sounds simple but it requires commitment.  Make up your mind now that you will only buy with cash or a check.  When you're debt-free, then you can have a "pay in full monthly" card for convenience.

Pay more than the monthly minimum on one card at a time.  Choose the one with the highest interest rate.  If they're all high, pay off the one with the smallest balance first.  Then, move onto the next card.

If you feel overwhelmed, contact a non-profit Consumer Credit Counseling office.  They'll work with you and your creditors to develop a payment plan.

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