Dealing with credit card debt

I think credit cards are the devil, but some of us don't figure this out until it is too late. Credit card offers are sexy and can easily seduce many first generation or low income college students. This can leave folks with piles of credit card debt.

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But instead of drowning in seemingly endless debt, these 6 tips can help you manage your current debt credit card debt:

Plan ahead. Before you make a purchase with a credit card, plan out how you are going to pay it back. Know how much you can afford to put towards the bill each month and factor in your interest rate. A bonus of thinking ahead is that it tends to fend off unnecessary impulse purchases so that you only borrow as much as you need.

Don't be a minimalist. If possible, pay your credit card bill in full each month. If that's out of the question, pay more than the minimum payment each month. These smart movee can save you hundreds--or even thousands--in interest.

Put it together. If possible, consider consolidating credit cards or transferring balances to a card with a lower interest rate.

Ask for it. Call your credit card company and ask them to lower your interest rate. A lot of people don't realize that it's completely fair game to ask this. You don't get what you don't ask for and the worst they can say is no.

One step at a time. You want to pay off debt as soon as possible, but always start by paying off debts with the highest interest rate first.

Pay it forward. Once you pay off one debt, apply that payment to next highest interest rate debt. And once you pay off all your credit card debt, put the money you are already used to paying toward credit cards into a savings account.

These steps are easy said than done, but can make all the difference in getting out of credit card debt. Even better, once your debt is paid off keeping up with these steps will help prevent future debt!

Got questions? Please feel free to ask The Advisor about it.