By Melissa Lambarena | NerdWallet
Credit card debt is an unfortunate reality for many today. Americans owe over $1 trillion in credit card debt, according to recent data from the Federal Reserve Bank of New York. And with steep interest rates and a high cost of living, the end of the road with debt can seem far away.
If you’ve been attacking debt with little progress, some small strategic steps can potentially shorten the journey.
Here’s what you can do to start digging your way out.
Understand your goals — and get motivated
Get clear on why you want to tackle debt and the opportunities that open up without it, says Gabbi Cerezo, a certified financial planner and accredited financial counselor.
Write down the reason and post it somewhere visible as a daily reminder, she says. It can also help to tape a note to your credit card, too.
Before diving right into the numbers — what you owe, and to whom — Cerezo also recommends looking to social media for inspiration.
“By getting familiar with how other people have overcome the burden of credit card debt and seeing all the methods that there are out there, it starts to become more of a possibility in your mind,” she says. read more