January Credit Card Bills Have You Scared? 4 Steps to Tackle Them Like a BOSS!

If you headed into the 2020 holidays with no savings or plan on how to pay for anything here are 4 steps to help you through January and on the path to being credit card debt free!! 

1. This is the most important step! Don’t beat yourself up! Not even for a second. You can’t go back and change what you did, but you can take action to tackle the bills like a boss!

2. Take a deep breath and log into your credit card apps or sit down with all your credit card statements and a notepad (or an excel file). Now it’s time to see where you stand. Write out all of your credit card balances and minimum payments. Another deep breath may be required here as you add them all up. You will now have your total credit card debt, and total minimum monthly payments.

3. Get fired up about paying this debt off!! How can you decrease your expenses and increase your income so that you can pay way more than the minimum each month? To really get focused with this sit down and go through your current budget with a fine-toothed comb for expenses you can chop or click here to get access to my free budget template and build yourself a budget if you don’t already have one!

4. Map out a plan for what order you will pay the debt off in. There are several different methods and you need to figure out which one makes the most sense for you, and then get to work.

The #1 thing NOT to do is to stick your head in the sand and avoid your bills. Avoiding them won’t make it go away, it will actually make them much worse. By getting your bills opened, knowing where you stand and tackling them head on you are setting yourself up for success.

If you want to avoid the January credit card hangover next year check out my blog post from last week for some action steps to get ahead for 2021!