Ready to wrangle in that credit card debt?
Want to learn more?
What Is the Debt Lasso Method?
What Is a Balance Transfer Credit Card and How Do They Work
Auten and Schneider get that question a lot.
But a lot of people forget those first two pieces and the last two pieces.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you might easily return later.
Well keep it updated as offers changes or expire.
Well look at all the pieces, but lets first decide if the debt lasso method can help you.
Then compare that total debt to your annual income.
If your debt is less than half of your income, the debt lasso method could work for you.
How the Debt Lasso Method Works
Ready to ride off into the debt-free sunset?
Whoa there, pardner.
Remember: You have to follow each step.
You cannot successfully use the debt lasso method unless youre willing to commit.
The early victory not only offers a psychological benefit but also helps yourcredit score.
Maintaining those credit lines will decrease yourcredit utilization, which accounts for approximately 30% of your credit score.
And the higher your credit score, the better position youll be in when youre ready to lasso.
Time to saddle up.
But if you have a less-than-stellar credit score, those offers may be tough to come by.
And dont limit yourself to credit card offers.
Using apersonal loanto pay off multiple cards has the same effect.
Each time you pay off one credit card, put your money toward paying off the next highest balance.
Remember that youve committed to not using your credit cards (see Step #1).
So hold onto the ones youve paid off.
By notcanceling the credit card, youll have more available credit, thus helping improve your credit score.
And a higher credit score will help you get approved for another zero-interest credit card.
But automating your payments can do even more to help.
Remember how we talked about the importance of committing because of later temptations?
Heres where that comes into play.
And thats where the last step becomes crucial.
This is no time to put your debt payment strategy out to pasture.
The takeaway lesson: Read the fine print.
Saving your cash for now will let you build an emergency fund in case you do lose income.
Tiffany Wendeln Connors is the deputy editor at The Penny Hoarder who is fully committed to corny puns.
Readher bio and other work here, then catch her on Twitter @TiffanyWendeln.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
