With the holidays behind us, mounting credit card debt can seem overwhelming. Here are some steps to take that can help you pay off your debt quickly.

First, create and/or carefully review your budget. By understanding where your money is going each month, you can make the most of each dollar that comes and goes. This will help you focus on your end goal of paying off your debt.

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 Next, look at your bills to identify where you could reduce costs. This could include eliminating monthly subscriptions or a gym membership you don’t use.

 You can also look for ways to increase your income. Taking on a side job — maybe one with flexible hours that can be done online — can help you put more money toward your debt.

Once you have your budget in order, figure out the debt repayment strategy that will work best for you.

 Click Here are a few to consider:

Snowball method: Focus on paying off your smallest debt first (while paying the minimum amounts on the others). Once the first debt is paid off, roll the amount you had been paying into payments on the next largest, and so on

Avalanche method: Pay off your debt with the highest interest rate first (while paying the minimums on the others). 

Then pay more on the loan with the next highest rate, and so on. This method could save you time and money over the course of your debt repayment plan.

Debt consolidation: Combining multiple debts into a single loan (ideally at a low-interest rate), can help make your monthly payments more manageable. It can also reduce your repayment period. 

Debt management plan: If you’re facing a lot of credit card debt and are not making much progress in paying it off, consider contacting a credit counseling agency. Many are nonprofits and can help you set up a debt management plan to reduce your interest rates and jumpstart your repayment plan.

Once you establish and review your budget for ways to reduce costs, establishing a debt repayment strategy can help you make progress toward paying off your debt while saving you time and money.