Credit card debt can feel overwhelming, and it’s a situation many people find themselves in at some point. The average American household carries nearly $16,000 in credit card debt, and I’ve been there too. In fact, I once struggled with $2,000 in credit card debt, which might seem small compared to the average, but at the time it felt like a huge burden. Here’s how I changed my mindset to pay off my credit card debt—and how you can too.
1. I Stopped Ignoring the Problem
At first, I took the typical advice of automating my credit card payments. While automation is great for most bills, for me, it made my credit card debt easier to ignore. I was only paying the minimum, and my balance hardly ever budged. With an interest rate just under 17%, I realized that simply paying the minimum would keep me in debt indefinitely.
After about a year of making the bare minimum payments, I checked my balance, and to my dismay, it hadn’t gone down much. That’s when I decided to take responsibility and tackle the issue head-on. I couldn’t keep avoiding it—I had to actively work toward paying it off.
2. I Focused on Increasing My Income
One of the most significant changes I made was shifting my mindset from scarcity to abundance. I realized that simply trimming a few expenses wasn’t going to cut it. While it’s possible to find small savings, I needed to create additional income to pay off the debt more quickly.
Since I was self-employed, I had the flexibility to increase my work hours and look for more revenue streams. I cut out all non-essential activities in my business, worked seven days a week (a temporary sacrifice), and reduced distractions like social media. Was it easy? Absolutely not, but it was necessary. The extra income from my business allowed me to make larger payments toward my credit card balance.
3. I Created a Plan and Stuck to It
Once I decided to take control, I needed a solid plan. Paying off my debt wasn’t going to happen with $15 monthly payments. I set a goal to pay off my balance in four months, contributing $500 each month.
This goal was ambitious, especially considering I had been paying only $15 a month, but that’s exactly what I needed—a challenge that would push me to work harder. The key was finding a way to generate an extra $500 a month. I focused on increasing my business income, and by month one, I had made my first $500 payment.
It was an incredible feeling to see such a large chunk of my debt disappear so quickly. Motivated by that success, I pushed even harder in month two, and sure enough, my business income grew again. I was able to pay off the rest of my debt two months ahead of schedule.
The Biggest Barrier to Paying Off Debt is You
In total, I carried my $2,000 credit card debt for 14 months. Once I made the mindset shift and took active steps to tackle the debt, it was gone in two months. The biggest barrier to paying off credit card debt is often ourselves—our reluctance to face the problem or take the necessary actions.
While my journey may have been unique to my situation, I believe that with a few mindset shifts and a clear plan, anyone can break free from credit card debt. Whether you’re dealing with $2,000 or $20,000 in credit card debt, a change in mindset could be the key to paying it off faster.
Looking at your own situation, what mindset shifts could you make to finally tackle your credit card debt?
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