This weekend I had the opportunity to meet an old friend. When we talked about our personal lives and how we deal with it, The conversation turned to personal finance. As we reflected on how our lives have changed over the past year, we realized that we were both struggling to manage our credit card debt. When I realized I was in danger of falling into old habits, I decided it was time to take control and make a plan to negotiate my credit card debt.
Dealing with credit card debt…Again
About five years ago, I celebrated a major financial milestone when I paid off my credit cards and became completely debt free. However, when I returned home last summer, I found myself in a very familiar and undesirable position. With little cash and inflated travel prices, I paid for everything with my credit card. Although it was a relatively small amount compared to the mountain of debt I had already conquered (about 3.000 US dollars), it was discouraging to see my balance go up again.