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6 Steps to pay off credit card debt

At MyBudget, we’ve helped tens of thousands of people pay off their credit cards. Freed from debt, those same people have gone on to achieve financial goals that once seemed impossible. To help you get on the same path, we’ve created a free eBook that outlines six steps to get out of credit card debt quickly and forever.

Start with ‘why’

Before we start talking about HOW to pay off your credit cards, let’s talk about WHY. Aside from being one of the top causes of financial stress, credit card debt can hold you back from living the life you want. 

Because debt:

  • Limits your options
  • Reduces the size and number of your goals
  • Forces you to shrink your dreams

On the other hand, no debt means no repayments. And no repayments means more money in your pocket. And more money in your pocket means more choices. And more choices means more freedom!

That’s a lot of good reasons why getting out of credit card debt is worth it.

DOWNLOAD THE FREE eBOOK NOW

Believe you can and will

Our ‘6 Steps To Get Out Of Credit Card Debt eBook’ is designed to get you started on the road to being free from credit card debt and staying that way FOREVER. But before you begin the journey, it’s important to adopt the right mindset. 

You need to believe that life beyond credit card debt is achievable. In fact, it might even be closer than you think!

We know this because every week, we help thousands of Australians pay off their credit cards and achieve dreams they thought were out of reach. Holidays, house deposits, renovations, new cars, new babies—you name it. 

MyBudget client Sarah got debt-free and went on her first overseas holiday
“Since signing on with you guys, you have changed my life. I’ve paid off my car and have become officially debt free and I managed to go on my first overseas trip on my own which was only to New Zealand but it was so worth it! This was my view of Queenstown and it felt great!”

Step 1: Make a list of your outstanding debts and interest rates

This exercise is a simple yet powerful step towards understanding the extent of your debts. The free eBook includes a handy table to make this process easier.

Step 2: Contact your credit card providers

Banks and credit card companies are obliged to help you if you’re in financial hardship. They may be able to waive late fees, lower your interest rate or even freeze your payments. If you don’t feel comfortable talking with your bank, MyBudget may be able to talk with them for you

Step 3: Choose a debt strategy to suit YOU

Choosing the right debt strategy can be the difference between years of struggle and tens of thousands of dollars in credit card interest payments. So, which method will work best for you? Will it be the Avalanche, Snowball or Feel Good approach? Perhaps a combination? The ‘6 Steps To Get Out Of Credit Card Debt eBook’ explains these different methods in detail.

Step 4: Simplify your debts

Juggling multiple credit cards, loans and other debts can be confusing and stressful. That’s why one of your aims should be to simplify your finances. Download the eBook to understand the options that may be available to you.

The benefits of a proven approach: The majority of MyBudget clients pay off all of their unsecured debts in three years.

Step 5: Budget for the life you want

Budgeting is more than paying bills and setting aside savings. It’s about creating a plan for the life you want! Budgeting is also the secret to eliminating money stress once and for all. Holidays, cars, date nights, new clothes, a house deposit and more are all possible, without relying on your credit cards to make ends meet. 

Step 6: You don’t have to do it on your own

First steps are often easier if you know you have help. Our debt experts can help you design a customised budget and choose an affordable debt strategy to suit your situation. Plus, we can do all the heavy lifting that keeps your plan on track.

The eBook explains how MyBudget works and why our approach is so successful.

Free yourself from money worries

MyBudget provides free information and advice to help you get out of debt faster

Call 1300 300 922 or request a call back to find out more.