Paying off your credit cards

Paying off credit card debt is not easy but it can be done!
The first thing a financial advisor will tell you is to pay more than the minimum. Well duh. Right now I know times are tough and that we are all changing our spending habits and cutting back where ever possible. With this being said, Rule #1 is PAY AT LEAST THE MINIMUM PAYMENT, ON TIME, EVERY MONTH. Too many people just give up and stop paying because they feel that they are not getting anywhere with the minimum payment. For every month you do not pay you are increasing your balance and adding to your stress. For each card you pay late you will add, on average, $34 to your debt each month and it only gets worse from here. Many people who pay late end up getting pushed over their limit by the fees and are hit with an average charge of $36.50 per month. Say you owe $475 on a card with a $500 limit and you do not pay your bill. The next month you will owe them $475 + Interest + Late Fees + Over Limit Fees = A new balance of $550. If you would have just paid the $10-15 minimum you would have saved over $70 in just one month. Take that $70 and multiply it by every card your thinking about paying late next month and things really get ugly. I am not asking you to perform a miracle and get yourself out of debt over night but PLEASE be sure that you try and pay at least your minimum payment, on time, every month.
Rule Number #2 coming soon