You don’t really have to give up on your latte in order to pay for your credit card bills. You are not really required to give that Oscar-worthy performance of Meryl Streep in “The Post” a miss just in order to stay true to your budget. Let us tell you that there is no place for guilt as far as your credit cards are concerned. All you need to do is get creative with your budget. Yes. And, how exactly would you be able to do that? We will unravel ways right in the course of this post.
A Few Unconventional ways with the help of which you can actually pay off your credit card debts
A lot today depends on how “app savvy” you actually are. What is considered as offbeat today will be treated as unconventional tomorrow. And, we are clearly talking apps here. If you are financially well-informed then you would always find a part of you negotiating. And, if you have that tendency of paying just what you think is the right price – then you should take your negotiation skills several notches higher just by acquainting yourself with the way Trim works. Trim is an app which helps you negotiate your utility bills as well. A Trim bot which works at tandem with your Facebook messenger or text messages will actually help you on several levels:
- Aid you have a look at your financial habits
- Negotiate with your provider to lower the bill
- Seamlessly go through your subscriptions so that you can even go on to cancel the ones that you do not need any more
- View account balances
- View transactions
Getting creative with your budget also means that you are actually identifying the risks associated with traditional ways of paying off your debt. One of the oft-repeated suggestions in this regard is to start off by paying minimum. That cannot really be regarded as a responsible way of paying off your credit card debts quite simply because of the fact that it is the slowest and often an incredibly expensive way to actually get there!
When you are paying the minimum on your credit card bills, you are actually taking way longer to pay off the debt (as such are paying off more – taking the accrued interest in view).
Know what you owe
The trick is always to figure out you owe. While experts have been saying this over and over again – not many of us have been doing this. Consider resorting to more constructive efforts by turning to Credit Sesame’s credit report card and access all the following benefits at one go:
- Keep track of your credit scores
- Gives a complete picture of your credit report
- Recommend lenders or debt refinancing options based on your needs
- Encourage you to aim for higher credit scores (which can be done by paying off your bills on time)
You are not really exhausting your retirement savings in order to pay off your credit card bills
So basically, you have already identified the need to save money for retirement! That’s incredible. However, not using these savings as an emergency cushion every now and then is also crucial. If you are doing that you are not only curbing your future savings but are also inviting the direct attention of the tax authorities while withdrawing tax-deferred money from certain retirement accounts.
There is no dearth of ways in which you can get creative
Another way to get creative with your budget is by adding on to it every now and then – of course by earning more! Do consider exploring additional earning opportunities.
Paribus, InboxDollars, Ipsos Panel and Survey Junkie are just a few platforms that can actually facilitate your efforts towards that end. InboxDollars – for instance – is one of those websites that pay you for watching television online. So,why waste your time while standing in the long grocery queue or for that matter while you are driven your way back home from office?
Then there is Paribus which actually helps you get money on your online purchases. If you are purchasing from Walmart, Target or Old Navy or for that matter other such stores (find out about the other stores as well) and you will be able to earn money from these purchases provided you’re keeping the receipts e-mailed to you.
Survey Junkie and Ipsos Panel are once again platforms that reward you financially for taking part in surveys. They are touted as two the largest survey panels out there and lot of your peers out there are actually taking time out from their leisure to bolster their money-making fortunes from them!
The key is to stay smart and keep yourself updated with the right kind of knowledge. While we are not really asking you to shell out time from your work to explore these channels, you can definitely go on to turn your free time into something worthwhile.
Stay financially ahead!
Photo by Ian Schneider on Unsplash