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Did you know that the  average household debt  is over $15,000  in credit cards alone?  

So, what are the best ways to reduce debt?  Here’s our list of 5 ways to get rid of the debt  and to instead  strive  toward debt free Christian living.

 1.    Reduce Frivolous Spending 

It’s true that you must  use  money to  survive,  but many of us have fallen into a habit of consumerism.  We run  to the  movies for entertainment on a rainy day, we eat out because we  won't make  time to cook dinner, and we shop for deals at the store  that are just “too good” to pass up.

Even if you use cash for your purchases, you’retaxing your financial  well being.  Add up – just for  one week  – how much you spend on your  Starbucks coffee.  Now  imagine  how you could have used that  income  more  wisely  . Even a  insignificant  amount of money  invested over time  can add up to a large sum.  

 2.    Kill The Extra Cards 

Did you know that the average number of credit cards per person is 3.5 credit cards?  Keep just one card, which you  don't  carry with you. That card will be used for  actual  emergencies, to reserve a hotel room or rental car and other necessary uses.  Even if your credit cards have a balance,  get rid of the cards  as you work on getting out  from under the  debt.

 Don’t even consider the pre-approved or pre-selected offers you get in the mail.  There are few people who need more credit cards.

 3.   Stop Using the Credit Card Account

 We all know people who cut up credit cards and begin  paying off  debt but  discover  they can still  spend  using their credit card number.  Most  online  sites can  keep your  credit card  information saved, so it’s  very easy  to click “buy” without much consideration. 

First things first – if you have  internet  accounts that do contain saved credit card information,  sign  into your account and delete that data.  Not only  will  that protect you if the  website  servers  go down,  but it  helps you not to  make a quick and thoughtless shopping decision.   When  you don’t have the cash,  you don’t make the purchase. 

4.   Set Up A Payment Plan

Whichever method you choose, set up a payment plan and stick to it. 

You can  decide  to take out a debt consolidation loan, or work with a debt reduction company that will help you  payoff debt and reduce your existing payments,  or you  may   start  your own  debt reduction  using the debt snowball method to  payoff debt.   Whichever method you  decide on,  choose it carefully and then stick to it.  

5.    Cultivate New Habits 

The average credit card user has debt that is 14 years old.  Habits have formed around managing debt in payments instead of payoffs.

It can be hard to change that dynamic with money .  It’s important to understand that  easy debt solutions  don’t really exist without avoiding  additional  debt, working hard to reduce  money owed to others  and  developing  a change in  spending  habits over time.

Visit Debt Free Christian for more information including financial calculators to monitor your current financial  stability.  

Source for Credit Card Statistics:

http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php

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