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Wednesday, January 15, 2014

Use Sales, Closeouts and Clearance to Save Money and Pay Off Credit Card Debt Fast

You can save money by shopping for items when stores are having clearance sales. This is one way to leave more cash available for paying off credit card debt and other loans that you might have.

Many people have the goal of clearing their outstanding debt. This would leave them with more cash free to use for investment or to meet other goals, such as saving for retirement or even taking a vacation in their own country. While debt exists, it eats away at your ability to save for the future by generating interest.

Sale-via Wikimedia, PD
It is not unheard of for $3,000 worth of debt to generate as much as $840 worth of interest over the course of one year. This is why it is so difficult for people to clear credit card debt sometimes. If you can only manage to pay the minimum balance, you will make very little headway in clearing your debt.

You can get almost everything you need for your home at a sale. Some sales allow you to save more than others. Never show at a sale without comparing prices first. You may find that the items you are seeing on sale can be beaten by another store, even though the other store has not discounted any of its items.

You can take advantage of sales to get low prices on furniture, textbooks for kids and adults, work clothes, sports gear and much more. Stores that operate online sometimes have closeout sections where you can find low prices all the time. These give you the opportunity to find essential items and the occasional gift at a price that you can afford.

Here are just a few of the things you can save money on by using sales, closeouts and clearance:
1. Dishes
2. Jackets
3. Pens
4. Hair color for home (semi permanent dye)
5. Frozen meats

By looking around online and offline you can get a deal on almost everything that you require. This allows you to put more money towards your credit card payments. Check out Natalie Pace’s book The ABCs of Money for useful advice on finance and clearing debt.

Disclaimer: The link to “The ABCs of Money” is an affiliate link and I will earn from any sales of Natalie Pace's books which are generated through it. However The ABCs of Money is completely free on Amazon Kindle, so you can read it for free, as I did.