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Did you know that the  average household debt  is over $15,000  in credit cards alone?  

So, what are the solutions to the growing debt problem?  Here’s our list of 5 ways tocure your tendency to acquire debt.

 1.   Stop Spending

It’s true that you must  have  money to  survive,  but many  individuals  have gotten  into a habit of consumerism.  Wehead to the  movies for entertainment on a rainy day, we eat out because we don’t have time to cook  a meal,  and we shop fordeals at the store  that are just “too good” to pass up.

Even if you use cash for your  expenditures,  you’re hurting  your financial health. Add up – just for  one week  – how much you spend on your  Starbucks coffee.  Now  imagine  how you  should have used that  income  more  wisely  . Even a smallamount of money  invested over time adds up to big dollars. 

 2.    Kill The Extra Cards 

 Are you aware that  that the average number of credit cards per person is 3.5 credit cards?  Keep just  a single  card, which you  don’t   keep  with you. That card will be used for true emergencies, to reserve a hotel room or rental car and other necessary uses.  Even if your credit cards have a balance, cut the actual cards upas you work on getting out of debt.

 Don’t even consider the pre-approved or pre-selected offers you get in the mail.  There are few people who need more credit cards.

 3.    Stop Abusing Your Line Of Credit 

 We all know people who cut up credit cards and begin  paying off  debt but discover  they can still shop using their credit card number. Many online  sites can  keep your  credit card  information saved, so it’s easy to click “buy” without much thought.  

 To get started  – if you have online accounts that  have  stored  credit card  details,   log  into your account and delete thatinformation. Not only does that protect you if the  website  servers  go down,  but it  helps you not to  make a  bad shopping decision.   When  you don’t have the  cash to pay for it,   you don’tmake the purchase. 

4.   Set Up A Payment Plan

 Whatever process  you choose,  start a   a payment plan and stick to it. 

You can choose to  get  a debt consolidation loan, or  you may want to work  with a debt reduction company that will help you  payoff debt and reduce your existing payments,  or you might set up your own  debt reduction  using the debt snowball method to reduce your debt.  If you do consolidate, choose a nonprofit debt consolidation company and look for the free debt consolidation option.   Whatever strategy you choose, choose it carefully and then  follow the plan.   

5.    Develop New Habits 

The average credit card user has debt that is 14 years old.  Habits have formed around managing debt in payments instead of payoffs.

It can be hard to change that dynamic with money .  It’s vital  to understand that debt cures don’t  actually  exist without avoiding  additional  debt,  constantly working  to reducedebt and  developing  a change inspendthrift habits over time.

Visit Debt Free Christian for more information including financial calculators tomonitor your current financial health. 

Source for Credit Card Statistics:

http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php