You are using an older browser version. Please use a supported version for the best MSN experience.

How To Shave Hundreds Off Your Credit Card Balance Before the End of the Year

GOBankingRates Logo By Gabrielle Olya of GOBankingRates | Slide 2 of 22: “The absolute first thing you need to do is take a look at the number you need to pay off and break it down,” said Michael Foguth, founder and president of Foguth Financial Group in Brighton, Michigan. “If the number is large, break the number down into smaller, more attainable weekly numbers. For example, if you owe $2,000 and you have eight weeks left to pay it off, you will need to allocate $250 per week toward your debt.”

Break Down the Goal Amount You Want To Pay Off Into Smaller Goals

“The absolute first thing you need to do is take a look at the number you need to pay off and break it down,” said Michael Foguth, founder and president of Foguth Financial Group in Brighton, Michigan. “If the number is large, break the number down into smaller, more attainable weekly numbers. For example, if you owe $2,000 and you have eight weeks left to pay it off, you will need to allocate $250 per week toward your debt.”

© supply / Unsplash

More from GOBankingRates

GOBankingRates
GOBankingRates
AdChoices
image beaconimage beaconimage beacon