Welcome to Wealthy Enough - my weekly newsletter where I share actionable insights to build your life of Enough.
Swiped your credit card too many times in January 2026? And now it’s haunting you back 👻? I know the feeling … Here’s what to do ..
📝 List DOWN all Your Credit Card Balance
🔎 Pick a Payment Strategies (I’ve explained in details)
📌 Stick to the ONE that really works for YOU
🔁 Rinse and Repeat Until all are Paid-Off
From December to January, We all do this! Swipe our Credit Card as if it’s FREE Money. Then the inevitable happens …. BOOM💥 the Credit Card Bill Arrives, and the Panic Starts.
So the Question I’m going to answer today is:
HOW AM I GOING TO PAY-OFF MY CREDIT CARD DEBTS FAST WITH THE LEAST INTEREST?
🔢 Know Your Numbers Grab your phone or a piece of paper📝, and list every credit card you have. For each one, write down three things: the total balance, the interest rate—that's your APR—and your minimum payment.
Here's an example. Let's say you have:
Card 1: $3,000 balance, 22% APR, $50 minimum
Card 2: $2,500 balance, 18% APR, $45 minimum
Card 3: $1,200 balance, 24% APR, $30 minimum
For this example, that's $6,700 in total debt and $125 in minimum payments.
So we Pay the Minimum every month and move on right?? WRONG!
So What do You DO??
Short Answer: Always make Extra Payments (Do whatever it takes to find FEW Extra Hundred Dollars)
✅ Know Your Strategy There are two main strategies, and they work very differently.
The Avalanche Method: Pay off the highest interest rate first. In our example, that's Card 3 at 24%. This saves you the most money in interest. It's mathematically the best choice.
The Snowball Method: Pay off the smallest balance first, regardless of interest rate. In our example, that's still Card 3, but only because it has the lowest balance at $1,200. This gives you quick wins and psychological momentum.
⁉️ Which should you choose If you're motivated by math and saving money, go Avalanche. If you need to see progress fast to stay motivated, go Snowball.
Both works — the best method is the one you'll actually stick with.
I’ve explained the entire process in this Video. Check this out👇:
You can utilise my ALL-IN-ONE PERSONAL FINANCE SOLUTION GOOGLE SHEET if you are looking for an easy solution 👇:
Get a head start on your Personal Finance, watch these 👇
What I Have been Reading Lately:
That’s all for this week. I hope you’ve found this helpful and insightful.
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I’ll see you next week 🙂
Saeem Khan
Creator of Wealthy Enough.
Software Engineer, Investor, Content Creator
www.saeemkhan.com
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⚠️ Disclaimer
This content is for educational and entertainment purposes only and should not be taken as financial advice. It doesn’t consider your individual objectives, financial situation, or needs. Please do your own research or consult a licensed financial advisor before making any investment decisions. I only recommend tools I personally use and trust. Some links above may be affiliate links, meaning I may earn a small commission (at no extra cost to you). It’s a simple way to support a small content creator like me. Your support means a lot. Thank you!