What's up everybody welcome back to the channel in this video, I'm going to show you five steps on how to get out of credit card debt. Let's go right into the video, alright, so credit card get. It is so easy to get into it at times. I understand it can be hard to get out of it.

We've all been in a situation where we've been in some type of debt. No one is just like just so perfect than their credit card debt. I've had it myself of things from school and I've used these steps either. Steps that I have kind of thought about.

These are five steps. Not everybody's are going to be different, but these are. These are five steps that has helped me if you're anybody who has had any credit card debt in the past. I know people who or became $ 30,000 of credit card again.

He can even be five thousand ten thousand two thousand whatever you've overcome. If you decide to help put sure strategies put your methods down below this is a community. Let's help each other. If I'm missing anything tell me about it, so that's into the waste.

So the first way we want to do use cash. We want to stop all the spending on credit cards and there are you know, statistics there are tests that I'm not going to bring up but pretty much the tests and those studies show when you use cash for things versus when you use credit card you're more. You know more like you're, more aware that you're spending your cash versus a credit card credit card swiper some plastic - you may forget about it: cash if you go back into your wallet and you're looking for some cash you're gon na realize this gone you're gon na Feel something you're gon na have like an emotional connection to that money. It's gone so stop using your credit card cut it up.

If you need to which people say cut it up, and things like that, you don't have to cut it up, but just put it away, keep it out of your while they keep it like we normally our. So my credit cards do not stay where I know him. I might keep them away from me unless I'm using them, especially without one at the point in time where I sauna get myself out of the credit card that I was in, I did not use credit cards at all. I kept a credit card, maybe somewhere for emergency purposes, but I knew cash was going to be king for me, no you're not going to get rewards.

I know that, but at this point in time, rewards is not the most important thing right now. The most important thing is to get the debt down so rewards have to go into the backburner and again, if you're, trying to get rewards like your and dad just makes no sense so rewards go back burner benefits going back burner. We are using straight hard liquid cash. Okay, that's it first step, make sure you are using cash and again no points where people love perks, where people love, but when you're trying to come out of debt.

Nothing really matters at that point. Besides getting out of debt. Okay, the second step is going to be evaluating your spending. I know people who pretty much print out a bill, maybe a credit card statement at bank statement or maybe even jot it down.

What are you spending that doesn't make sense? Do you have Netflix Hulu slang? Hbo, like do you, have all these subscriptions that you're not using or you do have a gym subscription. Excuse me that you're not using. Are you not even gone to the gym that money banks thing companies make so much money off of people who, I would say, are inactive when it comes to subscriptions? So if you, sir, if you're somebody I've had Netflix on and off for so long, I recently just got Netflix back because there was a point in time where I was like look. You know I like Netflix, but I'm not using it.

Why am i paying them? I'm not going to keep it there. I cancer the subscription it doesn't cost to cancel its month-to-month cancer. Those subscriptions are you going to you know, don't get donuts or Starbucks every morning for four or five out of coffees when you don't need them find other ways to energize yourself goes to the gym exercise, even if you know run around do something do some meditation? Do something try to find some and that is cheaper or $ 0 to get your morning going. You know, look at the look at those things.

Coffee adds up a subscription that you're not using to add up and subscriptions are so cheap month month. But when you have a subscription for $ 10 and it's a 12 month period and you think wow - that's 120 bucks that I could have put towards an investment - that's 120 bucks I could have put towards a rainy day - that's 120 bucks that I couldn't be used To pay my phone bill, you look at it bigger picture, okay, whoa and five years. How much is a hundred twenty bucks in ten years? How much as a hundred to 20 bucks so evaluate your spending, cut out things that you do not need? Okay. The third thing is to create a budget.

What are what's the budget when I was like really first starting off you get on the credit card debt, I forced myself. My budget was a hundred dollars every two weeks when I got paid to go out and do things regardless of that's eating out taking girls on dates. Taking myself out whatever I was doing every two weeks, a hundred dollars was my play money. Everything else was some of it was being saved and things like that others is going toward the bills, but during this timeframe we got our evaluated our spending pattern.

We know we want to cut out now what that budget. We want to really try to get that extra money and put it towards today. Okay, I'm really trying to really be really hard on yourself, but also be realistic to again mine every two weeks. I know this is kind of hard 100 bucks every two weeks for eating out for movies dates.

What everyone to call it and again, I know that's hard and 2009 to do but try to do whatever you can evaluate your spending, create a budget. So number three is create a budget for yourself number four number four and I got a four a and a 4 B you can do either/or for a is to try to find another credit card. If you have good credit, find a credit card offers. No annual percentage rate for X amount of months a really good card that I actually personally used for my debt was the city diamond preferred card.

I used that card for schooling and it was 0 % APR, for I believe about 21 months was either 18 or 21 months, which means if I did a balanced transfer of another credit card. I don't pay anything, but the principle on that, for, I think, was 18 and 21 months. The city diamond preferred car. It is a black plastic card from city check it out.

It's a really good car and they're pretty friendly with the limit. Just make sure your credit is good for that, so try to find a credit card that offers no interest for the first X amount of months. I know Chase Freedom has the card for like 14 months, no a no percentage rate and then again the city down, preferred, I think, offers the longest about 21 months, which is almost two years. I'm sure you can, you know, really cut down a lot of customers.

I'm sorry a lot of customers, a lot of my friends or our family, even my clients, they have debt, but a lot of their bills. Interests right. So if you cut an interest off for X amount of time, it's really going to help you. You can really knock down that principle as much as possible and then, when it gets down so okay, my 21 months is up now take that balance.

If you can and transfer somewhere else, I can that's again. That's opening up. You know some credit cards and things like that, but the purpose of it is to really knock down principle without paying interest. That's for a for a be.

If, let's say you have a $ 40,000 in credit card debt over X amount of cards, it's gon na be really hard to get a credit card for $ 40,000 right over $ 30,000 or even 20,000. If you're in that type of get try to find a loan to consolidate, this makes it easier. You are paying one bill a month for a certain interest rate shop around for the interest rates and, at this point, you're really helping yourself because you're not paying a bunch of bills. Again credit card debt can be a possible.

You know more than one so you're really consolidating all of your debts into one loan, one interest rate and you're being consistent and it's a fixed monthly payment, fixed meaning is a payment, is not changing. The interest is not changing, that's the contract. It could be two years four years, five years, whatever the contract terms are whatever the interest rate terms are and not called you have to out to for a or for B really matters, it's more so personal preference. It may be how much actually all because, if you are like 30,000 40,000 dollars, it's gon na be really hard to get credit cards with that amount of money to kind of do a balance transfer without an axe or a south power.

And the fifth reason is to create a goal. So that's the timeframe. What is your goal? Why are you trying to pay this credit card down, besides not being in debt, try to find something that keeps you motivated and give yourself a time frame for that motivational support I'm trying to get married. I need to get my wife or my husband this and that I'm trying to get married before I get married.

I want to have my finances in tact. I'm trying to go on some vacations, I'm trying to better my life kind of better in my financial situation. I'm trying to move out of my parents house I'm trying to do this and that I'm trying to go back to school. Whatever your goal is find something that is motivation or support for you.

That's got a matter in the long run when you're doing things that actually motivate you and support you, I'm a very self-motivated person, but I have things that motivate me so, even though I'm self-motivated there are things externally that motivate me to reach my certain goals. If I'm working out it's because I want to look good, maybe for no personal health and want to be here longer for family, I want to look good in vacation pictures. Whatever the goal is you really got to find that when it comes to credit cards and that's what I did, I knew when it was time to be on my own. I don't want to be bombarded with a bunch of bills in debt.

I wanted to really have fun edge of freedom to do the things that I still like to do. So that was my goal. So those are the five steps to get number one is used. Cash number two is evaluate your spending.

Number three is to create a budget for a is to do a balance transfer from one credit card to another. That's offering no annual percentage rate for a B is if it's, too big or just personal preference, find a loan to consolidate. Do a loan consolidation, personal loan number five create a goal and find that support. If you're really focused on doing this, you can tackle down any debt.

You just really got to be consistent, even if that is hey. Look I got to get a second job on a side whether that still ubers lifts part-time job somewhere, whatever it is, wherever you can find an extra money at even when you're evaluating you're, spinning and creating a budget. That's going to help you out so guys. If you really found this video helpful, give me a thumbs up, like I said: if you are somebody who has overcome debt, there's overcoming debt as we speak, put your strategies below I'm not the best out there.

I'm sure there are other strategies out there and they used not everybody know what you've done. I'm sure people who really love to hear from you not just me what you've done some testimonials down below everybody makes you'd like to subscribe to. This channel see you another video, take care.