A WOMAN has revealed that she was able to retire at the age of just 36 and now works part-time, sharing money advice.
Rachel (@rachel_talksmoney) is now a money and finance coach, who often takes to social media to share her simple, yet effective, money tips and tricks.
So if you have credit card debt that is growing quicker than you can keep up with, you’ll want to take notes immediately.
Rachel shared her two game-changing hacks that she swears by, that will help you to conquer your credit card debt quicker and easier.
Taking to TikTok, she said: “Here's a hack that credit card companies definitely don't want you to know, to help you pay down your debt faster and more efficiently.
“I'm Rachel, I retired from my corporate job at the age of 36 and now I work part-time as a money coach, helping people get their financial s**t together.
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“Credit card debt is really frustrating and really hard to pay off and one of the reasons is that it accrues daily, so that means every single day, the money that you owe them is growing, and it's not just a little bit of interest on what you've paid for with the credit card, effectively the things you've borrowed, it's also all of the interest, that you already owe them.
“So it grows really fast and it can be very hard to pay it off.
“So here are two hacks that are going to help you to pay that debt off faster."
Rachel's first tip encourage people to completely ditch using their credit cards.
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She advised: “Number one, take your credit cards out of your wallet, delete them from your phone, remove them from Apple Pay and completely stop using your credit cards."
Secondly, Rachel encouraged those with debt to make multiple payments every month.
She continued: "Number two, start making credit card payments multiple times a month.
“You don't have to pay the full balance multiple times a month, but take the amount that you set aside to pay towards your credit card, let's say it's $200, instead of paying one time a month at $200, break it up into four payments of $50 and start making payments every single Friday towards your credit card debt.
“The reason that this works is that every time you reduce the amount that you owe them, you are recruiting less and less and less interest, so if you're struggling to pay off your credit card debt, this is one of those little things that can make a huge difference across the lifetime of the loan.”
Rachel’s clip has clearly impressed many, as it has quickly amassed a whopping 406.8k views.
It has 20.5k likes, 1,490 comments and 2,428 shares.
Many social media users were thankful for Rachel’s advice and were eager to express this in the comments.
One person said: “Love this! Great tip. Keep them coming!!”
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Another added: “Thank you so much for that info.”
A third commented: “Impressed.”
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