Are you drowning in debt and don’t know what to do? Fear not my friend, for I have some expert tips to help you out.

Firstly, let’s talk about the infamous balance transfer fee. It’s like a pesky mosquito that constantly drains your bank account. That little sucker can be around 3% to 5% of the total amount owed. So, if you owe a lot, you might as well be donating to the mosquito charity. Oh, and if you miss just one payment, it’s game over for your no-interest deal. So, get your bug spray ready and watch out for those fees!

Another option to consider is a personal loan. Yes, I know it sounds like a scary word – “loan” – but hear me out. With a debt consolidation loan, all the interest from multiple credit cards can be combined into one low-interest fixed payment. Oh, and did I mention there’s no mosquito fee? The interest rates will depend on your credit, but it’s still probably better than those credit card rates that are currently lurking around like a dark cloud. Plus, it’s easier to keep track of just one, monthly payment rather than multiple blood-sucking credit card monsters.

Finally, if you really want to get serious, employ a debt-payoff method. I’m not talking about a trendy new exercise plan, I’m talking about actually paying off your debt. Some common methods include the avalanche method, where you pay off the one with the highest interest rate first, or the snowball method, where you pay off the one with the smallest balance first. It’s like building a snowman, but instead you’re attacking your debt. Honestly, whichever method you choose, just make sure to stick to it like a burr stuck to your pants.

So, there you have it folks – three tips to help you get out of debt. Now go forth and conquer those credit card monsters!

Serious News: cnbc