Kareen MillsFounder & CEO, Friendsgiving Live® · Most Influential Filipina ’23 🏆 Founder of the World’s Largest Friendsgiving Festival for Women | Angel | Keynote | Sugar Mommy™ Media | Psalm 25:1 ✞

How to get out of this financial squeeze zone #personalfinance #creditcarddebt

28 Oct 2024 · 1 min

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This content was created by Kareen Mills. This content was uploaded by Kareen Mills. This is a YouTube video titled "How to get out of this financial squeeze zone #personalfinance #creditcarddebt" (uploaded 2024-10-28). The excerpt features a single speaker providing personal-finance advice to someone with over $20,000 in credit-card debt. The speaker advises stopping repeated credit applications, organizing credit-card balances on a spreadsheet, using the debt-snowball method (prioritizing lowest balances to build momentum) rather than the avalanche method, and reviewing bank statements monthly. The content is instructional and aimed at consumers seeking debt-consolidation and repayment strategies.

Chapters

I owe more than $20,000 in credit cards. I keep getting declined for a debt consolidation because I have a 600 credit score. The number one thing you need to stop is to quit applying over and over again because it's gonna hurt your credit score. It's like forcing your ex-girlfriend to come back with you and she no longer wants you. Okay, number 2. Make sure you organize all of your credit card debts on a spreadsheet and employ the snowball method. The reason that I love the snowball method versus the avalanche method is because it creates that win immediately. The snowball method is prioritizing the lowest balance regardless of your rates. It creates that boost of energy and confidence to do it again and again. Number 3, look at your bank account statement every single month and track where your