I finished and e-filed my taxes last night, the refund was not what I was hoping (but it WAS what were were expecting) and when it gets here it will be used to pay down some Credit Card Debt, not exciting, but necessary.

It is estimated that the average US household carries $15,000 in credit card debt, and that 40% of Americans spend more than they make in a given year. I can totally see us being one of those 40% at times, and in my eyes that is unacceptable. This year we have really tried to make it our mission to pay down our debts, lower our bills, and eventually pay off our credit cards.

So what can you do?

It’s pretty simple… Pay more, and Spend less.

Call the credit card companies at least once a year and ask for a lower rate. They will often lower it to keep your business. If they don’t, call back and speak to someone else.

Transfer balances to a lower fixed rate. Introductory rates are a gamble, if you are good about making a budget and sticking to it, you can save a lot.

Be careful of “90 days same as cash”, if you pay it off after the 90 days you may be compounded with the interest incurred during those 90 days that was deferred. Anytime you have a specific interest free period, plan on paying it off one month early just to be safe.

Anyways, there is countless other ideas out there for reducing credit card debt.

*This is a sponsored post.