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How to Get Out of Debt Faster, Part 1

Money Girl’s 5 easy tactics to pay less interest, save more money, and create a more secure financial future.

By
Laura Adams, MBA,
Episode #254

What is a Balance Transfer?

Another way to slash the amount of interest you pay on debt is to move it to a balance transfer credit card. This is a special type of credit card that offers low or no interest during a promotional period if you transfer existing credit card debt or a qualifying loan balance to the new card.

Just like with any credit card, your credit score will determine the credit limit and interest rate that you’re offered. Balance transfer terms and fees vary widely, so be sure read the fine print to use them wisely. Check out Should You Use a Balance Transfer Credit Card? to learn more.

If you’re ready for a brighter financial future, get 3 top strategies to raise your credit score fast in my free Credit Score Survival Kit. You’ll also find out how to get your credit score for free—so you can see when your score goes up or down, as often as you want without having to pay for it.

Download FREE chapters of Money Girl’s Smart Moves to Grow Rich

To learn much more about dealing with debt in easy-to-understand language, get a copy of my book Money Girl’s Smart Moves to Grow Rich. It tells you what you need to know about money without bogging you down with what you don’t. It’s available at your favorite book store in print or as an e-book for your Kindle, Nook, iPad, PC, Mac, or smart phone. You can even download 2 free book chapters at SmartMovesToGrowRich.com!

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There’s a huge archive of past articles and podcasts if you type in what you want to learn about in the search bar at the top of the page. Here are all the many places you can connect with me, learn more about personal finance, and ask your money question:

Check Out These Related Posts and Podcasts:
 

How to Raise Your Credit Score Fast
How to Qualify for a Mortgage or Refinance

Should You Refinance Your Mortgage?
Paying Off Student Loans
How to Pay Off Credit Card Debt
How to Use a Balance Transfer Card to Get Out of Debt
Credit Score Survival Kit – a free multimedia credit resource!

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