If it’s one thing that we truly love to see, it’s the power that comes with financial freedom after paying off credit card debts! According to Good Morning America, Cinneah El-Amin is finally free from the constrictions that accompany debt after coming to a realization that it was time for a change. “The worst that I got was I woke up one day with over $10,000 in credit card debt that was due in full,” said the 27-year-old.  From there she buckled down and took a head-first approach to managing and alleviating herself from the credit card debts she owed to various companies. When it came to attacking her debt, El-Amin knew that she had to take a more serious approach to where she was spending her money. Through the use of zero-based budgeting, she was able to achieve all of her financial goals. With the zero-based budgeting method, any income amount that is earned is given a “job” so that when the person subtracts the money that’s going out from their respective income, they are...

Let’s be real — some of us might not have made as much financial progress as we would have liked in 2019. Thankfully, it’s a new year, and we have another chance to do better. CompareCards commissioned a survey of almost 800 credit cardholders and found that nearly 1 in 5 cardholders with credit card debt didn’t make any progress towards paying off their debt last year. On top of that, 35 percent of cardholders entered 2020 with more credit card debt than they had in the beginning of 2019. In this article: Key findings Many cardholders started the new year with card debt Nearly 1 in 5 indebted cardholders didn’t make any payoff progress in 2019 The credit card debt gender gap continues How to prioritize paying off credit card debt in 2020 The bottom line Key findings Nearly 1 in 5 cardholders with credit card debt didn’t make any payoff progress this year. 35 percent of cardholders have more credit card debt now than they did on Jan. 1, 2019. On the other hand, 34 percent now have...