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Strategies to slash your credit card debt
Credit card debt is one of the hardest holes to dig out of when you’re focused on cleaning up your personal finances. Relatively low monthly payments can lull you into a routine of simply paying the minimum while the high interest rates hurt your cash flow in the future.

But don’t fret: If you have credit card debt, you’re not the only one. According to the Federal Reserve Bank of New York, Americans held more than $800 billion in credit card debt at the end of 2018.

Taking control of your credit can be as simple as more carefully monitoring your spending and becoming disciplined in paying more than your minimum payments.

Following are some easy ways to pay off credit card debt faster and enjoy financial freedom sooner:

Be Strategic
It can be intimidating to tackle your credit card debt if you focus on the total amount due, especially if you racked up debt across multiple cards.

When analyzing your debt to figure out where to start, break up your credit card debt into smaller chunks. Then work with a financial adviser to decide which ones to tackle first.

Higher Interest Rates
Your best bet is generally to start paying down the debt with the highest interest rate. These cards mean you’re paying the most amount of interest relative to the principal balance, making it harder and longer for you to dig out of debt on that particular card.

Once you have paid off the credit card with the highest interest rate, move onto the credit card with the next highest interest rate and so on until you are completely out of credit card debt.

Look for Promotions
Credit cards can be handy if you keep them under control and pay them off relatively soon, especially if you’re running a business or trying to reserve more of your cash on hand. Look for cards with 0% financing promotions, just make sure to pay off the debt during the time period allowed or you could get stuck with big-time fees. —Green Shoot Media