You are soon going to realize that your maxed credit card is actually your enemy. It is a monthly expense that you are just not managing to pay down. Every time that you pay the minimum then you remain in the same position. If you pay above the minimum, then at some point during the month you will end up spending the money. A lot of the time, it is not your fault. A lot of the time you simply need the money and have nowhere else to get it from so you put spend the little bit you have on your credit card. Here are a few ways to help yourself out of your debt without getting another load, going to a debt consolidator or without going insolvent.
Cut up your credit card
This sounds like the worst advice on the planet; because there is going to come a time when you desperately need the money you have paid onto it. But, the fact is that if you pay off your credit card, then you will have that money already. Think about it, if you are paying a minimum such as 70 per month then you would have had 70 to spend right now. You would not have to go running to your credit card to spend the 15 of credit you have built onto it because you would already have an extra 70 kicking around you bank account.
Make an extra monthly payment
Every month when you pay your credit card, you should also pay a little bit extra. It can be as low as 10, but try to make it something like 40, which is 10 per week. This extra is what is going to pay off your credit card over time. You will begin to see the benefit in a few months when your monthly minimum payment start to fall.
Make an investment in peer-to-peer schemes
This is a scheme where you can invest your money for a set amount of time, and then reclaim it with interest when it matures. It sounds like a terrible idea because the interest you are going to get will never be as much as the interest on your credit card. But, that is not the point of the exercise; the point is to build up a reasonably large sum that you cannot get your hands on. For example, you could invest 20 per month on a monthly scheme. Every month you get your money back along with a bit of interest. You reinvest that money every month, along with your 20. If you invest in a monthly scheme, then if a big expense does come along then you only have to wait a maximum of a month to gain access to your money.
Start a mini eBay business
Sell your stuff and put the money into buying new and saleable stock. Put your net profits into your credit card. All you need to do is make sure that you do not spend the profits yourself, and keep to the fact that your mini-business is going to pay off your credit card debt. Many times if people have poor self-discipline, they are still good at making money. So use your eBay business to fund your credit card repayment because it will allow you to put effort into paying back your debt instead of just portioning off a bit of your wages every month.