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Tag Archives: paying off credit cards

Getting Out of Credit Card Debt: What You Should Know About Balance Transfers

save money on credit card interest

Are your high interest rates causing you to dig yourself deeper into debt? We’ve all been there at least once or twice in our lives. We receive what appears to be a great offer for a credit card, open the account, mismanage our spending, and eventually, end up in debt. What was once a $2,000 expense has over time turned into a $3,000 expense as the interest rates continue to add up. So what do you do? Allowing the problem to persist essentially means a ruined credit score, which in turn prevents you from borrowing in the future. A more effective solution would be to consider transferring the balance on your card to a new card with lower (or zero), interest rates. However, before you start applying, here’s a bit of information that would be beneficial to know in advance. 1. You’re Obtaining a New Card to Pay off the Old One The concept behind balance transfers is removing the debt from the old and adding it to the new. For example, let’s say you have a high interest credit card asking you to pay 13% and you have a balance of $2,000; you’ll have to pay approximately $347 per ...

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December Goals

    Wow, it’s almost the end of the year. They just go faster the older you get. I used to roll my eyes when my parents said this, but, as with many things, they were right. December is a whole month of celebrating from the parade last weekend to school parties and programs, to our office Christmas party, for which I am cooking for 15 people! After Christmas, we are heading to see my side of the family in Kentucky. I’ll be gone from the 30th to the 4th, and my mom does not have a very up to date computer. I also don’t want to spend my time off online. I am asking for some awesome blogger friends who might like to submit a guest post for that week to please step forward. I could pre-schedule something, but I won’t be able to comment and interact like normal. I will be forever in your debt and  be happy to return the favor should you ever need to unplug. On to the goals….. Blog Goals 1. Do at least one guest post or blog swap a month. PASS. I did three blog swaps and a guest post.  I hope to do at least ...

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