1. Money
Miriam Caldwell

Looking for a Zero Balance

By January 22, 2013

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Many people carry a little bit of money on their credit cards. Often you make more than your minimum payment, but don't get the balance paid all of the way down before you need to use the card again. It's like having little pieces of the purchases you made over the years hanging around. It's hard to feel like you are making any progress towards getting out of debt if you do not reach the zero point on any of your credit cards.

The first step is to stop using your credit cards, even for emergencies. Set up your emergency fund, and then lock your cards away. If you have more than one credit card, focus any extra money you have on your credit cards on just one card at a time. Make sure you are not adding any extra money to that card. Once you pay one off you will be more motivated to get to work on the other cards.

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