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How I Reduced My Finances Charges from $400/month to $100/month

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Jim over at Blueprint for Financial Prosperity has been very supportive of my efforts to reduce my debt. Quite a few times he’s linked to my blog with nice words. He noticed my post the other day about how much I’m paying in finance charges now and he asked if I’d write a guest article for his blog. I said sure.

I wrote 6 key things I did to reduce our finance charges, and discussed each of them for the article on his blog. Here’s a recap:

1.) Tried calling my credit cards to see if they would lower my interest rates

2.) Paid off as much of our debt as I could

3.) Worked to increase my credit score

4.) Took advantage of balance transfer offers

5.) Used my husband’s cards

6.) Looked around for other ways to decrease my interest rates

Please visit Jim’s site for the full article. You also may want to look around his site a little bit for he has some great information over there.

Thanks Jim, and everyone else for your support. I can’t believe its almost been a year!


10 Comments

  • Reply missiondebtfreedom |

    Awesome job reducing your interest charges…that will make that payoff money work even harder. I’ve still got quite a bit to pay myself, but I’m finally headed in the right direction.

  • Reply mapgirl |

    Really good post at BFP. The majority of my credit card debt is at 0%, but it expires later this year. Jim pointed me at his 0% credit card list too, which I’ll look at when the time is right.

  • Reply Colleen |

    I was playing the transfer to low or no interest cards for years, then last year called it quits. I felt guilty doing it over and over and not getting any further out of debt. This week I found a credit card with a 0% balance transfer rate for a year and no balance transfer fees. I opened two of them, one in my name and one in my husband’s name. We were immediately approved for 20K each. I am so excited about moving my balances to those two cards and will try to pay off the debt in one year. It is a huge goal but I think we can do it! Thanks for your wonderful posts Tricia – keep up the good work!

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