If you are planning to use a 0% balance transfer to reduce your high interest credit card debt, you will want to do everything you can to get your balance paid off before your promotional rate ends. Here are some useful tips to help get you thinking about things you can do to pay your balance off quickly.

1. Set up a budget. The number one thing you can do to keep on track for paying down your balance is to set up a monthly budget and then stick to it. Your monthly expenses should not exceed your income and if they do, you will need to make some changes.

2. Stop using your credit cards, at least for now. The last thing you need to do is to rack up more credit card debt while you are working to pay off your 0% APR balance transfer. If you may be tempted, cut up your cards and instead stick to spending cash or using your debit card.

3. Stop spending. Do everything you can to cut your spending habits. Look at all of your expenses and determine where you can cut. Some expenses you will not be able to cut like your mortgage and car payment, but others like eating out and all the extras on your cell phone and cable bill will need to go. Develop a weekly menu and eat in instead. Call your cable and cell phone companies and shut off the services you don’t need. You could even give up cable all together.

4. Take every extra penny you make each month and put it towards your credit card bill. Do your best to make sure that you are putting enough towards you debt each month so that your balance will be zero at the end of the promotional time period.

5. If you are not meeting your monthly goal of what you need to pay towards your card, reevaluate your spending. Look for other areas that you can cut. Can you carpool to work to save money on gas? Are you spending money on anything that is frivolous, like buying your coffee out instead of making it at home in the morning? Are you brown bagging your lunch? Look at all the little things that can add up.

6. If you still can’t make a large enough monthly payment you may want to consider a second part time job, at least for now. Another option might be to clean out your house and either have a garage sale or sell items on your local Craig’s list.

Paying off your credit card debts does take some hard work, sacrifices and determination, but in the end, you will find it is worth it. With a 0% APR credit card, you can reduce monthly interest costs. But if you don’t use this time to get out of credit card debt, you’ll find yourself trapped in a cycle of expensive debt.

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