To break the credit card debt cycle you’re currently in, you’ll need to find a way to pay off the debts you have while avoiding new bills. The best way to do this involves creating a monthly budget, consolidating your debts to pay them off faster, building an emergency fund and not using credit cards for spending in the short-term.

Debt consolidation loans and balance transfer cards have distinct advantages and disadvantages when it comes to paying off debt. Debt consolidation loans give you a definite payoff date with a fixed interest rate.

The latest quarterly figures show that credit card debt hit another record level . getty. Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1

High interest rates, stubborn inflation and continued consumer spending are among the factors that have lifted collective credit card debt to an all-time high of $1.21 trillion, a

Credit-card debt in the U.S. hit another record after an unusually-high increase following the holidays. Debt from credit cards reached $1.21 trillion i