I just wrote this for American Express’ new website: Currency. Don’t think I’m allowed to re-post it here yet, BUT be sure to click over and check it out – I think you’ll like it!! :)
5 Things My Mohawk Taught me About Money. Here’s a snippet:
2. It’s all about patience. Just like commuting to work or painting a picture, getting those spikes up every day takes time. We’re talking anywhere from five to 25 minutes-all depending on my hair’s mood and how long I’ve let it grow out.
The same rules apply to finance. It takes time to reap those rewards. (There’s a reason J.D. and hundreds of others write about “getting rich slowly.”) Same with paying off your debt: Unless you get a crazy influx of money, you’ve got to pay that off one month at a time, little by little. There’s no true get-rich-quick schemes out there, I’m afraid. Nor quick mohawks, for that matter.
Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!
If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!
What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!
PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.