Brew your own coffee or make your own tea or hot chocolate at home, rather than purchasing coffee at a Dunkin Donuts or coffee shop. Or, if your job offers these caffeinated drinks for free, drink the free offerings. The free drinks may not be as delicious as the coffee shop selections, but you’ll be saving lots of money over time. Take the money you save each week and put it towards your credit card debt.
Bring lunch to work or school. You can still eat with friends – just pack your lunch in a brown bag. If you’ve got a microwave and toaster oven at work, you can make a great meal in no time. This is also a great way to make sure that you don’t waste any leftovers. You can take your saved money to pay off part of your credit card bills.
Cook dinner at home instead of going to a restaurant. Set a goal to only go out to dinner once a month. You’ll save at least $15 each time you skip a dinner out. If you need to go out to dinner, save part of your meal so you can save money by eating leftovers the next day.
Buy snacks in bulk. It’s more expensive up front, but you won’t be visiting the vending machine each time you get hungry, so it’ll be worth the savings over time. If you visit the vending machine twice a week, that’s two dollars in savings per week that can be put towards your credit card payments. It seems like a small amount, but the money adds up over time.
Transfer your debt to a credit card with less interest or no interest. Then you’ll be able to pay everything off faster because you won’t have to pay interest fees. Or, if you can’t do that, call your credit card company and ask if you can obtain a lower interest rate.
When people want to buy you birthday or holiday gifts, ask for gift cards for places where you buy necessities, like the grocery store. This way, you’ll be getting things that you need, and the gift money won’t go to waste. Then, take the money that you would have spent on groceries and use it to pay down your credit cards.
Save your change. At the end of the month, bring it to a no-fee coin counting location. Put the money directly towards your credit card bills. If you let it sit around, it’s likely to get spent.