Americans' credit card debt passes $1 trillion — here are 3 very doable ways to pay your balance off

www.cnbc.com ^ | Aug 8 2023 | Elizabeth Gravier

[Albion Wilde]

Interestingly, the decrease in spending is already happening, because a good number of consumers have maxed out their credit cards already, and can't get increases in their limits.

The other thing is that the pandemic hysteria due to supply chain problems and the threat of inflation (which is now here) spurred many people to buy and storemore of their regular items, especially food on sale. It becomes a habit.

Now I try to do errands and shop only one to two trips a week including to gas up the car, and plan the items, the destinations and the route the night before, keeping a list in my phone. Also make note of the price per oz of my regular food items at the discount grocery vs the warehouse club. I've hung an envelope for paper coupons on the exit door, and take the coupons out to my car glove box whenever I leave.

Recently got several white boards from the dollar store and inventoried the freezer, fridge, pantry, cabinets, bathrooms, closets and storage areas. Now, when planning meals, using something or before going shopping, it's easy to check the boards to avoid buying yet another of the same thing. The goal is to have only one to three extras of regular items, not four to twelve.

Bought an air fryer on sale to avoid firing up the range oven just to reheat or cook small-quantity meal items that don't do well in the microwave. Making a gallon of concentrated tea at a time, we can pour half a glass and thin it with cold water instead of running the ice cube maker so often in the summer.

We used to keep chargers plugged in all the time all over the house, for electronic devices and rechargeable power tools. Now we try to plan what tools are needed for scheduled puttering times. Also using a room fan and open windows whenever possible instead of the AC.

Guess we'll find out whether these are good inflation fighters during the next plandemic.

[Fledermaus]

I use credit cards to get cash back.

I pay the balance off weekly.