Saying Good-Bye to Credit Card Debt

Hello, my friend and future millionaire.

In the last email I touched briefly on credit card debt and how we’re going to start eliminating some of it. 

What I’d like to do in this email is explore that in a little more detail and explain it in more depth. 

We’ve identified the credit card with the lowest balance, and that’s the one you’re paying off first.

Where a lot of people make their mistake is focusing on the card with the higher interest rate and thinking they’re saving money because they’re making more of a payment on that card. 

Well, some of that is true, because you are saving a little bit of money by doing that, but let’s examine the issues I see in that plan and let’s discuss what I would rather see happen. 

Remember how we talked about making your goals close so that you can hit the target because I need you to know what victory feels like?

To achieve that the first thing we’re going to do is take your credit card with the lowest balance and we’re going to focus all the extra money that we have on that credit card until it’s paid off in full. 

Then you’re going to have an open credit card in your wallet, which is going to be a different feeling than having only debt. 

When paying the credit card with the next highest balance, you’re still going to make the minimum payment that you were making before, but also add the amount you were paying on the first credit card that you just paid off to increase your overall monthly payment.

So you see how we pick up speed to get you out of debt faster? 

Let’s say, for example, you have six credit cards. 

We’re going to hold off on the one with the highest balance, because I want you to get some of the smaller debt on cards paid off first.

I want you to be able to know what it feels like, if you’re somebody that has a lot of credit cards, to walk around with two or three empty credit cards. 

That’s the way it works to build momentum to get out of debt. 

It’s important to note that if you’re running some cards that have 0% interest, you need to monitor that closely because they add all the interest onto your balance once that special rate expires. 

You can play what I call a “MasterCard game” and switch some balances back and forth to cards that run 0% (if you have that kind of credit).

It will save you some money, I’ve done that in the past, but it’s a game for somebody that’s more advanced and has a good handle on their credit and knows exactly what they’re doing. 

I’m not going into those details in this email but I do cover that in our “Money Mastery” course.

To view that go to: and click on MONEY MASTERY, and that will bring up the course where I cover everything in great detail to help you eliminate the debt that you’re carrying. 

Something I want you to keep in mind is that you didn’t get here overnight and you’re not going to get out overnight. 

It’s one of those deals where you’re looking to make your future a whole lot brighter by the way you manage your money in the here & now. 

You may be done doing some of the stuff that you did in the past with money, but the issue is this, your financial past isn’t done with you until you’re out of debt.