If you have credit card debts because you have been buying things that catches your fancy without giving a second thought to the big hole that is being made in your pocket, then it is time that you sew the hole. You can do this only if you try to reduce credit card debt that you have incurred through sustained effort. Practicing self control and reducing your spending habits is the key to reduce credit card debts. Here are some tips on how you can achieve this.

1. Use cash as much as possible – Since credit cards are the root cause of credit card debts, it is better that you refrain from using them as much as possible. You can carry cash with you as much as possible. There is an added advantage to this. Since there is only a limited amount of cash that you can carry while going about your everyday purposes, you won’t end up spending more. Thus even if you feel like you can’t survive without a certain something that your eyes landed upon in the mall and it is very costly, you won’t be able to buy that because you won’t have enough cash.

2. Keep at the most two credit cards – Credit cards were originally designed for emergency purposes. However, it has been reduced down to an item of everyday use. When you have been asked to use cash, don’t do away with your credit cards altogether. This is because you may need a credit card for emergency use. As a result you should have a credit card and at the most two if you know you are going on a trip or in for any purpose where you may require a considerable amount of cash.

3. Pay down the high interest debts fast – If you have multiple credit card debts, they are likely to have different interest rates. You should pay the debts with higher interest rate first. This is because more the rate, more amount of money is going towards paying them off. Thus you should pay them off as fast as possible to save money and reduce credit card debt.

Along with following the above tips you should also pay your balances by the end of each month. This is done to prevent interest money adding on to your principal amount and increasing your debt. Thereby, you can reduce your credit card debt by following these tips.