Best Tricks to Stay Debt-Free for Life

Friday, September 11th, 2015
Updated: September 11th, 2015
The content is accurate at the time of publication and is subject to change.

Being in debt can feel like something heavy is weighing you down. It keeps you from living your life and being your best self. If you’d like to be debt-free—and who wouldn’t?—here are the best ways to do it.

Transfer balances to zero-percent interest cards. If you’re carrying debt already, pay it off quickly by applying for a 0% APR card with the longest promotional period you can find. Some of these cards offer no interest payments for up to 21 months. The only catch is, there is often a balance transfer fee. This is usually 3-5% of the balance transferred, or a minimum amount such as $5 or $10. However, paying this fee is usually worth it, depending on what your interest rate is on the current card. And there are some no-fee balance transfer offers out there. It’s just a matter of looking for them, and having good enough credit to qualify for them.

Use no-interest credit card offers to make big purchases. If you have something like a move or a renovation on the horizon, a 0% APR can be just what you need, to make those larger purchases and pay them off over time. Many credit cards offer a promotional rate of 0% on purchases for six months, a year, or even longer. During this time, you’ll be able to make payments on your purchases at a rate that fits your budget, without paying any interest. Just be sure you make all your minimum payments on time, because if you miss one, you may lose out on the promotional rate.

Stick to a budget. This means knowing how much you can afford to spend, and staying within that comfort zone when you’re tempted to put something on your credit card that you really can’t afford. It’s easy to go overboard on spending, especially when you have a line of credit that allows you to buy things you may not necessarily be able to afford. Sit down and write out a budget, looking at what you need, what you want, and what you can afford. Remember to account for taxes, savings, and emergencies. One good way to keep on top of what you’re spending is to write everything down for a month or longer. Then you can look back and know what things you really must spend on, and where you might be able to cut your spending.

Use credit cards as a tool, not a crutch. A credit card can be a great financial tool, or something that gets you into trouble. Used correctly, credit cards give you rewards, financial flexibility, and the chance to earn a great credit score. Used recklessly, credit cards can get you into debt, saddle you with a low credit score, and cause you to spend time digging yourself out of a bad situation. The choice is yours.

Living a debt-free life is worth the planning and work that it requires. Following these steps is something you’ll never regret, so start today.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Latest Balance Transfer Cards Guides

How to get rid of your current debt? May 23rd, 2023

Effective ways to consolidate your debt. Trying to pay off debts is tough, especially if you have several debts with steep interest rates. Debt consolidation is something you might want to think about in order to streamline your debt and cut down on your monthly payments. Debt refinancing is the process of taking out a […]

Continue »
Do These 3 Things After a Balance Transfer to Maximize Your Savings December 25th, 2020

After requesting a balance transfer, it usually takes about 14 days before the actual transfer is completed. However, receiving the long-awaited message from the card issuer that your funds have been successfully transferred is not the final step. After this, it is very important not to forget about some important things you better do so […]

Continue »
Got a Balance Transfer Credit Card Denial? Here Is What You Can Do April 14th, 2020

Once you understand you are carrying balances on one or several credit cards under huge interest that you cannot pay off quickly, it may be wise to consider transferring those debts to a new balance transfer credit card. Most such cards come with a 0% intro APR on balance transfers for 6-21 months, which can […]

Continue »
How Does a Balance Transfer Affect Your Credit Score? March 16th, 2020

If you have one or even several credit accounts with considerable balances and huge interest, probably, considering a balance transfer to consolidate those debts is the best way out. But before you apply for a balance transfer credit card, it’s not out of place to assess all possible pros and cons. And, first of all, […]

Continue »
5 Easy Steps to Fulfill a Balance Transfer February 5th, 2020

Once you decide to apply for a balance transfer credit card in order to consolidate all your debts, get lower interest rates or earn more rewards, you most likely begin to wonder how to accomplish the whole balance transfer process and benefit from it. Let’s start with the basics.

Continue »
Best Credit Offer
Best Credit Cards from
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 4 / 5
Horizon Card Services Group One Freedom Card
Copyright © 2001-2024 All Rights Reserved.

See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions. makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that may be compensated by the credit card issuers when the readers apply for a credit card through this site. is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. does not review or list all available financial or credit offers.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.