Credit card debt sucks, and it can sometimes feel like it’s permanent. Regardless of your income, once you start tracking your expenses it’s possible to set realistic repayment goals.
Here are three helpful tips to help dismiss the credit card myths and rediscover financial freedom.
Use a debit card instead, and get out of the red
Uber, Spotify, PayPal, Netflix – can you honestly say you know Take a look at your statement, and for every service you use regularly replace your CC details with a debit card instead. That way you can stay on top of what you’re actually spending so you don't ‘accidentally’ max out your credit card.
If you’re not ready to ditch credit just yet, has the right card for you. Transfer your credit card balance to another bank and you’ll usually get an interest-free period, so you can get ahead on repayments and avoid the all-too-common pitfall of simply paying just the interest off on cards. Ask if they can extend the interest-free timeframe, and remember to mention you're a student.
Get a debt management app
Debt management apps are little digital helpers that can take the pain out of organizing your debts and . Debt Manager orders all of your debts from least amount owed to highest amount owed and determines how much extra you can put down on each payment based on your income, while financial guru Suze Orman’s web-based Debt Eliminator calculator focuses specifically on ways to tackle credit card debt.