Get Rid of credit card debt Once and For All

“A budget is telling your money where to go instead of wondering where it went.”

A study shows that Australians rank third highest in the world when it comes to household debt. Source:

There are two types of debt, a good one, and a bad one.

What is a good debt?

A good debt is a kind of debt which will benefit your wealth in the long run.

For example, a student loan to fulfil your college dreams, and an investment property loans which will allow you to earn income for renting and re-sell at a higher price.

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What is a bad debt?

A bad debt is a debt where it decreases your wealth over a period.

This means, it can’t be used as an asset, and most of the time, you pay extra for the items that you can’t afford based on your salary.

The perfect example of this is using a credit card for unnecessary things, or to those that will diminish in value over time.

Whether you have a few hundred or many thousand owing on your credit card, below are some easy steps to start paying off the debt:

Figure out how much you owe

Collect all the credit card statements that you have.

Write it down or make a spreadsheet and list the balance and interest rate for each, you also want to know what your total amount of debt is.

Start a budget

Get organized. List down only the essential things that you need to buy in the grocery, followed by the bills you must pay and reduce your spending.

Does it save you money if you make your own meal at home instead of dining out?

Do you always pay extra to your Telco provider because you always exceed your data allowance?

Why not upgrade monthly plan?

Do what you need to do to minimise your spending habits. Remember, there’s a difference between Wants and Needs.

Make extra payments

Repaying the minimum required payment on your credit card will take years to repay and interest charges will top up to your debt.

If you pay more than $20 – $30 per month makes a difference when accumulated.

You may also choose to accelerate the debt off to save you hundreds or thousands of interests, terms may vary for every credit card provider.

Don’t Use Your Cards

This is the easiest way to eliminate your credit card debt.

Stop swiping until it’s all paid off. Leave the cards at home and always pay cash.

People tend to spend double when they’re paying with a credit card as opposed to cash payment. If you still use your credit cards whilst trying your best to pay your debt off, then you’re putting yourself into the burden.

Understand that credit card is not free money.

Get help if you need

At Credit Fix Solutions, we have expert advisers who can provide you with professional credit score repair services, build your credit, minimise your debt, and negotiate with collection agencies.

We will act as your advocate, meaning that all communications will come to our office on your behalf, leaving you free to get on with your life whilst we deal with the negotiations.

If you require assistance to negotiate any unpaid debts, contact us now!

No Result No Fee!

Call us on 1300 436 569! Email us at or check out more articles at

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