Nursing debt is one of the many issues that people are facing today. In the US, there is an average of $7000 credit card debt per family, reports say. This includes an interest rate of $1000 per year. That amount alone can pay off other bills or loans, but people end up paying interest rates for unnecessary purchases using their credit cards.

The best solution to end credit card debt in the US and anywhere in the world is to eliminate debt completely. Each person wishes to be debt free, but there are situations that cannot be avoided such as using credit cards to purchase regular stuff that people use. Eventually, this leads people be in debt and distressed most of the time.

With an average of 3 credit cards per person in the US there’s no wonder people are getting into a lot of financial trouble. Most of the time all 3 credit cards are being used and interest rates vary per card. Maxing out all 3 credit cards eventually results to people going in debt and jeopardizing their credit scores.

What You Can Do To Reduce Your Credit Card Debt

• If you own 3 or more credit cards, monitor each card’s spending. If you are not doing this, then it’s time to do so. If you are just spending your card and not thinking of the amounts you paid and the due dates, then you are deliberately causing yourself the trouble.

Having 1 credit card is already a responsibility, what more if you have 3. You may use an excel spread sheet in listing down your purchases per card. Jot down the due dates and the minimum payment due. Include the interest rate per card.

• Once you have a clear picture of how each of your credit cards has accumulated, check the card that has the highest and lowest interest rates. Now, decide on which card to pay first. Some people say that it is best to pay off the card with the highest interest rate to reduce debt the fastest. But some will advice that it is better to pay off the lowest interest rate.

Both are beneficial, but it will be dependent on your capacity to pay. If you can pay off the highest, the better and the faster you will be able to reduce and eliminate your credit debt. If you are short on the budget, pay off the lowest then.

• If your cards have rewards points that are convertible into payments, now is the best time to use it. Talks to your credit card provider about it.

• If 1 or 2 of your cards are high contributors to your credit debt, choose which is contributing the most. Pay off your credit on that problem card first then followed by the second highest contributor. This will reduce your debt faster.

• Once you have paid off all your credit card debt, practice a reasonable and healthy spending habit. This will keep you from being in debt.

• Remember the monitoring sheet? Once you are out of debt, don’t forget to still use your monitoring sheet. Whether you only have a few dollars credit on each card, it is always best to monitor your spending to avoid being in debt again.

There are still other ways to help you deal with credit card debt. There are credit consolidation and services that can address your issues. But if you can do it on your own with these tips, you can also be debt free without spending money on hiring someone to do it for you.