Credit card debt can appear overwhelming, but there are ways you can get it paid down if you put a small amount of effort into it. The following are five easy tips for paying down credit card balances.

Double up Each Month

Many people make the grave mistake of only paying the minimum amount. When you only pay the minimum amount, a lot of it just goes to the interest and not the principal. Credit.com explains doubling up your payment each month is an idea that can help you get your credit card debt paid down much faster than you think.

Negotiate the Balance

Another thing to do is negotiate down the balance. Your creditors might negotiate the amount for you, especially if the account is overdue. Lift Credit Loans recommends offering a reduced settlement. However, never send the collections company the settlement unless you get their acceptance in writing, and NEVER give them electronic access to your bank account! If you’re willing to reach out and ask for a negotiation, then it may just work.

Use Autopay

Autopay is a fantastic feature that allows you to add a bank account or another form of payment and then have your credit card payments come out automatically each month. CreditCards.com explains autopay is excellent because it can prevent accidentally missed payments that can ruin your credit score the first time they happen.

Send Money Each Payday

Another thing you can do if you really want to pay your debt early is to take a certain amount each payday and dedicate it to your credit card debt. Pick an amount and stick by it whether it’s $5, 10 percent of your check or something else. Just make sure you do it every payday before you do anything else. The Balance reinforces that those extra payments besides your doubled up monthly payments will make your credit card balances dwindle quickly.

Try a Debt Consolidation

A consolidation is something else that you can do to get your credit card debt paid faster. You can request a consolidation loan, or you can transfer all of your debt to a balance transfer card as recommended by NerdWallet. You will see a lower interest rate if you do one of those things. Therefore, you’ll end up saving money and paying your debt off much faster than you would the other way.

Those are some tips you can use if you want to get your credit card debt paid faster. Paying your debt will reward you with additional credit, lender trust and a sense of accomplishment for taking care of your debts.

If you’re struggling with your mortgage payment on top of other financial troubles, get in contact with us and let’s see what we can do together!