How do I get out of credit card debt?

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

Next, do a compilation of your credit card debts, together with all the relevant information. For example:

• Total outstanding loan

• Effective interest rate per annum

• Minimum Repayment

With these information, rank them based on the rate of snowball, i.e. how fast the debt will grow.

Thereafter, create a budget that is capable of helping you to pay off the debt. The best way to do this is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly...

Accordingly, start with the card with the greatest snowball effect. Once completed, move on to the next card. At the same time, avoid taking more debt to pay the existing debt. Instead, work with your current resource (through understanding your cashflow).

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