Cut the credit:

Breaking up with debt!
As many of us know, it’s all too easy to get into credit card debt. A holiday here, a Christmas shopping binge there, an emergency trip to the mechanic to keep you on the road. Small debts add up to big interest repayments when not repaid swiftly: Here are some basic ideas to help you chip away at that lump sum.

Get Motivated
In the short term you’ll need real motivation to make the lifestyle changes necessary to pay off your debt. It’s easy to ignore your monthly credit card statements as they build up – but it’s financially damaging in the long run.

Use Strategy
Not all credit cards are equal – some charge higher interest rates than others and have annual fees. If you have multiple credit card debts, consult with your broker to identify which card to pay down immediately and think about transferring your debt onto a credit card offering lower rates. Other options include negotiating repayment terms with your financial institution,  consolidating your debt into a personal loan or incorporating your debt onto your mortgage.

Pay Your Cards Off
The time is now! Cut up that card, knuckle down and pay off your credit cards! It’s as simple (and difficult) as that. Keep your eyes on the prize: before too long you’ll be debt free and able to use your loan potential and ready cash for property investment, saving or improving your lifestyle as you see fit.