When we talk about money, student loans steal the show with their big numbers and scary stories. But there's another money monster hiding in the shadows: credit card debt.

1. Consumer credit card debt crossed the $1 trillion threshold last year, marking a historic high.
   
   
2. In a survey we conducted, 84% of respondents working to get out of debt identified credit card debt as the primary debt they wanted to manage, far outpacing the 14% who pointed to student loans.

Why credit card usage doesn’t get as much coverage

1. It’s personal: Talking about credit card debt is taboo. It feels more like a personal failure, unlike student loans, which we see as a big, shared problem.
   
   
2. We’re used to it: The consistent use of credit cards has led to a desensitization to their potential risks, despite their interest rates being significantly higher than other debt types like auto loans, student loans, and more. 

3. Wishful Thinking: Lots of us think we'll shake off credit card debt quickly. However, a recent Bank Rate study shows 58% have been in credit card debt for more than a year.

Strategies for eliminating your credit card debt

1. Get Your Ducks in a Row: Pull all your credit card info together. Make a list of your balances, minimum payments, and interest rates; Or let Budge do the heavy lifting and organize it for you.
   
   
2. Build Your Plan: Achieving debt freedom requires a strategy. We advocate for the debt snowball method, which prioritizes paying off the card with the smallest balance first, thus building momentum as you move to cards with larger balances.

3. Leverage Paydays for Extra Payments: By allocating extra payments on payday, it will be easier to ensure you are tracking towards your goal. Budge can automate this process, ensuring your money is immediately put to work reducing your debt.
   
   

Dealing with debt, be it from credit cards or student loans, might seem daunting at first. But by getting a clear picture of what you owe and taking steps to manage it effectively, you're already on your way to financial wellness. Strategies like sorting out your debts and making informed payment decisions aren't just about crunching numbers—they're your building blocks toward a more secure financial future.

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