Paying down debt is an art. When you are stuck with high interest rates and you are making minimum payments, you can pay and pay and it might take you 40 years to pay off an 8,000 debt when paying minimum payment. Pay more than minimum payments.

To decide what debt to pay off, of course, you try to pay the most pressing one down first, however check your credit card payments as to what has the highest interest rate and tackle that one first. Double the payment or move it to a different credit card.

If you have one at 9 percent interest rate, you would not try to pay off that credit card as fast as you should pay down one at 24 percent interest.

Some people will tell you it is better to have savings in the bank. Think about it, you are saving at possibly 3 percent on your money, while on a credit card you could be paying up to 28 percent interest on credit cards payments.

If you suspect you might have some cash problems, consider paying on a card that has quick cash that you can get a hold of if you get into trouble. The money is there if you need it. So, get that debt paid down.

Tighten up that belt a bit, it really doesn't hurt, count those pennies and put those pennies on your credit card debt. Think three times before buying something with your charge card. Charge cards make things so easy to buy. Think about paying hard cash for what you are buying and think of how much more you are paying for it as the interest on it accrues by using your credit card.

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