So, you owe money to credit card companies, mortgage companies, the Internal Revenue Service and other financial institutions. The one thing these companies all have in common is that they charge interest. Paying everything in full each month is the best and most effective way to reduce interest. If that isn’t feasible, then pay as much as you can each month. Don’t just pay the minimum. Here's another way to reduce interest. Split up the monthly payments into 2 payments-one during the first part of the month and one during that last part of the month. There may be a few institutions that will have a problem with this but very few. Credit card companies won’t care as long as they get their money by the due date. Many banks offer online bill pay so that should make this no more difficult than making one payment per month.
You could increase your income too. Please let me show you how.
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