5 Things You Can Do When You're In Credit Card Debt

[@chrisk7024]

How I did it was first cut up all my credit cards. Then list down all my credit card debts, categorised from smallest to largest. While still making minimum payments on all the other cards, I attack the smallest amount first with a vengeance by paying as much as I can on the smallest debt. When that is gone, I take what I was paying on it and put it toward the second smallest debt and so on. This eventually kept me going till I paid everything off. 😊 Since then I only kept 1 credit card, live less than what I make and always make sure that I’m able to pay full amount each time I use it. I also agree with you that budget is also an important tool because without a plan, we plan to fail.

[@BeigeBrownClip-jd2pv]

My past strategy was just let the largest cc debt go unpaid and put all my earnings to the one With the smaller amount. After this was done, the first had gone to collection, there I got it turn into term loan and start paying all my earnings to it. This is how I paid off my cc debt. 🎉

[@reynoldsondaujonathan8725]

ThANK YOU

[@syahrimnaim9489]

Now cashlite rate is 10%. Do you think its still worth it to take?

[@simonteng4563]

Wats the best loan restructuring package available? Can make any recommendations?

[@bgees]

You will incurred more interest charges or late payment charges if you don't settled the previous month credit card outstanding balance

[@juwairiasadik3926]

I think emergency fund should be more than 2k, especially if you have a family. Recommended 3-6 months worth of expense

[@laiszeyap]

I agree. If you stay in Klang Valley, even you nsk buy cheapest, own cook, insurance still need 4 k per month to pass by with family with kids + internet (you need internet to find jobs, make things happen ) ~

[@TJunChuan]

i think if you are in the situation that he is describing, it's ok to have 2k as the amount of emergency money like for food for those daily important stuff money and pay off the credit card debt as soon as possible as the rate of credit card is super crazy and until now i still quite dont understand why people take that kind of "loan"

[@ericlai3221]

great content🙏

[@aydaemir3754]

What a very awesome sharing Mr. Money TV. In fact, still not forgiving to say those who pay their credit card debt without fail no matter what is called deadbeats where such people are quite rare. In fact, when you shows what already happen here is clearly the biggest profit making for credit card company called revolver where they do no manage their credit card very well then accumulating interests...too many Malaysian people are revolvers when using credit card. Still not forgiving to say i can say that those who manage to pay back money that they owe with anyone including their family on time no matter what are the only one suitable to use credit card after all... 🙂🙂

[@md.fahmin9438]

cc is like a knife, you can use it wisely & help yourself.... or use it recklessly & hurt yourself

[@tsawra007]

Hi bro, your KZbin show has been very helpful and educational. I think most Malaysia companies and lots of business sectors are under China SEO control and very hard thrive for average people. I hope you can do “ China SEO effect Malaysia economy too”

[@lozhenhong6656]

Credit card is good product

[@Aaina]

Just started using a CC in June and currently have stuck my guns to spending only what my salary at the end of the month will be able to cover. Still trying to figure out a way to track efficiently (I used to log expenses daily in Excel) bc CC transactions don’t get reflected immediately unlike Debit, but it’s been a good change so far.

[@mohdhasbimohdyunus5260]

thanks bro. your honest stories gives most of courage to fix this. set aside the ego fix the thigs

[@StevenBonesEverything]

for the buffer/ emergency fund... did u guys set aside 2k a month, or was it just a one off 2k set aside for emergencies?

[@crayon1581]

Emergency fund is set aside one off but the buffer is too little. Just treat credit card as charge card where you pay off all the balance every month.

[@SiroccoSeven]

Min 6 month. 2 months liquid saving, min 4 months fd. If you can keep more it’s better. But I would recommend you invest the rest of the cash. Again this is not going to be the same as everyone. Some people whom have high debts can go lower in emergency funds to pay off high interest debt.

[@StevenBonesEverything]

@@SiroccoSeven ah I've heard ppl recommend having the 6mth of salary savings but this is the first time I've heard someone break it down to liquid and fd! Thank you so much for this ❤️

[@KWThum-cy4og]

Mr MoneyTv. You have made a very sincere and humane videos for young working adults. Keep it up 👍

[@malaccagal]

Can you do a video on how not to live paycheque to paycheque with B40 salary?

[@SaadonAksah]

You could also get secure credit card back by fix deposit. Then you dont have to worry too much about whether you can pay your credit card or not 😅

[@ganendranpillay3283]

IF you were to go to AKPK and restructure your loans, once you have completed all your payments, will it still be reflected in ccris/ctos? will this affect your ability to take loans for home/auto?

[@cshong3831]

It will take some time to get bank reconsider your new loan application. Like after 6 months

[@aznahabas242]

If the amount not as big u can always opt for Balance Transfer or QuickCash...try not to resort to AKPK as the 1st choice.

[@jyll92]

U are very lucky to have your wife

[@FirdausAmir]

4:32 it's better than your partner find it out by her self

[@JazZzZzer]

If you can’t afford to buy the same thing twice, then properly you shouldn’t get it.

[@lozhenhong6656]

Must get as much credit card as possible

[@aznahabas242]

This is me 😝🤣

[@AbbatyAbubakar-zi3xj]

❤️Great content I'm new to crypto!. How can I make more profitable investment in crypto without incurring much losses?

[@francisandrew]

You'd have the orientation of the trading system before you get involved in it because Crypto has been unstable

[@SisiliaAyuba]

You actually need an expert trader assigned by a registered brokerage company to help you out. I currently trade with Mrs REGINA. she is the best when it comes to high profits in the market!

[@SUNUSIUABDULLAHI]

Ms REGINA trading strategies are actually top-notch!. I and my bro made weekly gains of almost $29k on my portfolio. The profits attained actually depends on your start up amount

[@chikablessing843]

I'm new at this please how can I get in touch with this Mrs Regina . I've actually heard a lot about her

[@SisiliaAyuba]

She's on telegram..

[@wendelynlee8544]

To stay debt free = Don’t spend future $$$$$$ , spent only if U’ve $$$$$ in your bank . Spent only on NEEDs if in Low cash / savings , cut down on WANTs . Or go find additional sources of earnings .

[@TJunChuan]

Well, debt or loan is not all bad. Take an example, PTPTN loan is fixed 1% p.a. of total debt. Let's say if you have just the same cash as the loan like 50k. I would rather put the 50k into fixed deposit than paying all at once since I can earn more than I need to pay back even with government 10% to 20% discount

[@leeclauvell]

What's your income during that time ? If u don't mind 😅

[@Antraz8814]

How did you even end up with 50k debt in the first place? dont you know your monthly spending limit? because you typically pay your credit card in the following month and you know how much salary you are roughly earning, doesnt that give you an indication at least of how much allowance you have to spend this month?

[@aznahabas242]

Chill...got Balance Transfer, IPP, Quickcash😂 I have CC debt like..all the time..haha

[@PassionPno]

You’re the credit card queen. OMG. I will never do this. I use my credit cards like they’re charge cards.

[@farisnazmi4300]

Aznah kt sini pun kau ada hahahaha

[@ahmedyaahmed]

The queen is here 😂

[@thecowegg]

I think it all comes down to generating income and spending the income principles.

[@REDREDStrawberry]

Very informative videos as always! I myself and many that I know of are interested in property in JB(because nearer to sg) can you do a videos about where is a good area / tax / buying process. TIA!

[@MrMoneyTV]

Good idea! lets see if we can get our hands on some JB property for review

[@o0ohwyo0o]

Wait…..is this a re upload?

[@ckokloong]

How to avoid credit card debt? Stop worrying about what other thinks about you. It more important what you think about yourself; what principle you hold. Financial prudence must be one of your core principle. You are not doing this for yourselves, you are being a role model for your kids.

[@MrLittlecat123]

Borrow from friends and always tell them u will return it next year.

[@aznahabas242]

Wallau....next year? 🤣

[@brt525]

👍👍👍👍👍👍👍👍👍👍

[@kcfmark]

I think having credit card is dangerous for the majority. It gives you a sense of still having money when you're broke!

[@jyll92]

in the wrong hand its dangerous. in the right hand can get cash back, build credit score, get credit advance

[@aznahabas242]

It is not 🤣 when u u know how to use it fully....generally I would say people only know how to utilise 20% of what a CC can actually do. What happen to other 80%?? Knowledge gap 😝

[@Mikey-fo9mm]

Never ever spend money beyond your means. Once you start owing the bank's, you will regret owing credit cards.

[@natico-w812]

your content quality very low

[@maccallysterofficial1838]

Tips #1 for me : Do NOT own any credit card😂

[@Mikey-fo9mm]

Best advice ever

[@Victor_YNWA]

U need to have a credit card, for emergencies at least. it depends on how u use it.. if you use it correctly, it can become your BFF

[@Mikey-fo9mm]

@Victor_YNWA Be careful of BFF. If you mismanaged it, it will turn out to be your worst enemy/nightmare.

[@maccallysterofficial1838]

​@@Victor_YNWAthats what they all say. I've had CC before, for me its counterproductive. Much better to have an emergency fund of at least 6 months. With CC you tend to overspend the money you dont have yet, with nowadays so much place to spend them ie internet shopping, overpriced coffee shops etc. Why dont go for delay gratification, gather money and then spend them when have enough in the banks. Just my 2cents

[@Victor_YNWA]

@@Mikey-fo9mm as I mentioned, it depends on how u use it. If u use it correctly, it's your BFF. If u abuse it, it's your enemy

[@szeaik]

Tip #1: do not get married, this is advice from me which going divorce soon.

[@muhammadwafiudinmohdyusoff9577]

Whyyyy

[@natico-w812]

your content quality very low