Understanding why you struggle to pay down credit card balances is an important step on the path to financial health. With Christian credit counseling, you figure out what stands in your way. In some cases, you simply aren’t aware of how bad the situation has become. Some people live beyond their means because of emotional reasons. By following a few credit counseling tips, you can overcome financial challenges. According to an article by greenpath.com, the average interest rate on credit cards is above 13 percent. Of course, many consumers have interest rates that are much higher. By signing up for a debt management plan, you enjoy a negotiated interest rate that is significantly lower than what you currently owe. Before getting started with debt consolidation through an established Christian credit counseling company, consider why you carry credit card month to month without paying it down.

You haven’t stopped using the cards

One reason you are still in credit card debt is because you have not stopped using the credit cards you currently keep. When participating in a debt management plan, you typically put your credit cards aside while you work on making monthly debt repayments.

You aren’t tracking your expenses

Another reason consumers end up with too much debt is because they spend without thinking. Tracking your expenses forces you to think about the money you have and spend. Experts advise consumers to keep receipts.

You aren’t cutting discretionary spending

Discretionary expenses are the expenses you can simply do without. Whether it is cable television, gourmet coffee, vacations or eating out, discretionary purchases often result in excessive credit card debt.

You stick to one job

Instead of working only one job, consider different ways to boost your income. Some people prefer to focus on passive income streams as a way to supplement their income. Passive income is money you make for work or decisions you made in the past. For example, investing in a rental home or buying stocks that pay dividends often create passive income.

Other tips include letting a Christian credit counseling company talk to your creditors. Once you develop a plan and set goals, reward yourself for progress. At Christian Credit Counselors, we help people get out of credit card debt with a debt consolidation program. For more information about our successful strategies that put you on a positive path to a debt-free life, please contact us.