HOW YOU CAN PAY OFF $20,000 IN CREDIT CARD DEBT IN 5 YEARS

Average debt is nearly $16,000 dollars per household.

United States credit card debt is approaching $800 billion.

Credit card debt may be crushing your soul as well as your family finances.

HOW WILL YOUR LIFE CHANGE?Imagine for a moment what it would be like to be rid of your debt…

YOU COULD…

Keep additional dollars in your pocket every single month.

Retire sooner than you could before.

Enjoy greater ease in paying bills.

YOU COULD…

Enjoy improvements in your credit rating.

Sleep better at night.

Take vacations, start a business…

→ Do many things you’ve only dreamed about!

GET YOUR INFORMATION TOGETHERKeep in mind that following nearly any plan is much better than failing to follow the best plan.

LOCATE THE FOLLOWING INFORMATION…

Total balance

Interest rate

CALCULATE YOUR INTEREST PAYMENT…

New / Current Balance

Multiply by APR

Divide by 12

ADD INTEREST PAYMENTS…

Take interest payment for each credit card

Add these numbers together to see what you must pay monthly.

This amount only prevents your debt from growing larger – it does not reduce it.

CALCULATE PRINCIPAL PAYMENT…

Total Debt

Divide by# of years

Divide by 12

TOTAL MONTHLY DEBT PAYMENT

Interest Payment

Principal Payment

Total Payment

MAKE A PLANControl yourself if you want to free yourself.

THE EVEN PLAN

• This plan pays an even amount to

each credit card.

• Divide total monthly payment by number of credit cards.

• Ensure both interest and principal payments are included.

THE SNOWBALL PLAN

• Begin with the card with the smallest balance.

• Pay this card off before moving to the next.

• Build momentum as you pay off each card.

• You’ll feel more accomplished with this payment plan.

THE SMART PLAN

• With this plan, you pay the least amount of interest.

• Target the highest interest rate debt first.

• Go from highest to lowest in terms of APR.

WHERE CAN I GET MONEY?

Reflect on your own lifestyle .

ADDITIONAL SOURCES OF INCOME…

Part-time jobs Tutoring Freelanc

e work

Craigslist Selling items

Fiverr.com

Gigs and services

Temp jobs

CONSIDER SPENDING LESS…

Carpool Brownbag lunch

Eliminate cable

Rent movies

Brew coffee What else?

ADDITIONAL TIPSKeep an open mind and your end goal in sight. it will be here before you know it!

THESE ACTIONS WILL HELP…

Get a lower interest

rate.

Shop for 0% APR balance

transfers.

Find cards with lower fees.

THESE ACTIONS WILL HELP…

Make payments on time.

Avoid creating

new debt.

Track your

progress.

YOU CAN DO THIS!Consistent progress– even if that progress is small –is powerful.

All you need is a plan and the determination to follow through.

Choose one of these three plans and make a real effort to stick with it.

It can take time, but eliminating credit card debt is well worth the effort.

We hope you enjoyed your Special Report!

Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog.

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