If you’ve multiple card debt problems and have problems paying off your debt – it may look difficult to handle but it is achievable if you have your own debt repayment strategy. It’s like a baseball game – winning a match requires a strategy. In this case, you need to have some basic tools to help you to make monthly payment promptly.

Here’s what you need:

• Microsoft Excel
• A credit card debt payoff calculator – click here

The key to make this strategy fool-proof is that you stop spending with your cards and constantly paying the first month’s minimum every month. It enables you to eliminate your debt in just a few years and save some money in interest.

Here’s what you need to do:

1. Start getting all info intact

Gather all your credit card statements and sort it out into different credit card companies. Find out the total outstanding balance for every credit card company that you owe.

2. Create a simple spreadsheet to find out how much debt you owe

Create a chart on an Excel spreadsheet and label columns as follows (click picture to enlarge):

This step allows you to find out how much you actually owe and when you should make payment since different credit cards have different due dates.

3. Finding the actual cost of your debt

At this step, you have to use an online credit card debt payoff calculator and start inputting details from your spreadsheet (i.e. total outstanding balance, interest rates (APR); minimum payment) into the online calculator (click picture below to enlarge).

The key to make this strategy fool-proof is that you stop spending with your cards and constantly paying the first month’s minimum every month. It enables you to eliminate your debt in just a few years and save some money in interest.

4. Print out the chart and place it somewhere you can see it often

As the chart displays the actual cost of the debt and duration of the paying off debt process, you have to place it someplace where you see it regularly as a form of encouragement – which you can pay more than the minimum.

If you are having difficulties making fixed-month payment as planned – start looking for a credit counselor or negotiate with the creditors for a debt settlement.