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Shopify’s research found five lasting shopping trends with bad corona

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Shopify's research found five lasting shopping trends with bad corona
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How long will the “new normal / new daily life” last after the spread of a new coronavirus infection? In addition to common habits, people’s shopping habits are changing, according to a Shopify survey. And I think this change may last forever.

In the past few months, I first bought plant-derived cheese from an online store, shipped the medicine to my home, attended an online yoga class, and then went to the store to buy beer. Don’t you think this is what you heard? It seems that I am not the only one who changed this behavior.

Fifty-three percent of North American shoppers say the pandemic has changed the way they buy in the future.

In June of this year, we asked Canadian and US shoppers the question, “How will buying trends change with the spread of the new coronavirus infection?” Participants in this study will compare the three in early 2020 and after the North American epidemic. We compared that month (March-June 2020) to understand how purchasing behavior changed. He shared.

As the turmoil finally subsided and normal life resumed, some behavioral patterns became more prominent. According to our research, the growth of online shopping, the demand for virtual experiences, the shift to sending and receiving services, and the expansion of support for small self-employed people are remarkable.

Consumer trends and long-term impact in 2020

More surprising than all behavioral changes are the signs that this trend will continue. In fact, 53% of North American shoppers say the pandemic has changed the way they buy in the future.

So what does this mean for business owners? Here, in addition to the five trends in consumer behavior due to pandemics, we will further investigate survey data, why they continue to exist, and how to achieve business success this year and beyond. I want to think if it can be done.

👟 Shortcut
1. Increase online shopping
2. Support local sole proprietorship
3. Demand for off-site pickup services
4. Request a local delivery service
5. Transform into a virtual experience

1. Increase online shopping

North American self-regulatory requirements have forced many retailers to close temporarily or permanently. Meanwhile, some retailers have rushed to switch to an online-only strategy. Spillover also requires shoppers to adjust their purchasing habits.

52% of shoppers say they bought more items online than they did at the beginning of the year. Some people say that online shopping is a safer and preferred option, even after the store is reopened. Fifty-one percent of survey participants said they were worried about shopping in stores during a pandemic.

As a result of the investigation, we found the following.

• In the three months following the pandemic, a total of 83% of shoppers said they shopped online at least once.

• Among them, 60% shop more often than at the beginning of the year and 6% shop online for the first time.

• The 18-34 year old group shows the largest population growth. 68% said they bought more products online during the pandemic, and 9% said they were new to e-commerce.

Why the trend continues

Eighty-one percent of shoppers say they plan to shop online by the end of 2020. This value is about the same as the percentage of people who shop online during a pandemic.

Although many municipalities and businesses have reopened, they still consider online shopping to be their first choice. In fact, as delivery and receipt methods improve, more convenient options are increasing.

Very important point

Even if you open an online store as a short-term measure at the beginning of self-discipline, why not consider incorporating it into your business strategy as a permanent solution?

Fortunately, this crisis has given us the opportunity to try out new sales channels and shipping methods. How is the result? What can we learn from customer feedback to improve our online experience?

40% of shoppers say online shopping is positive because the site is easy to navigate. Businesses and retailers unfamiliar with e-commerce need to ensure that their online shopping experience adapts to their current buying habits. It’s also important to share stories, make a professional and friendly first impression, and win the trust of shoppers.

On the product page, we’ll provide you with neat images, accurate product descriptions, size / assembly guides, and provide exquisite suggestions, quizzes, and other customized shopping experiences. By doing so, the customer can decide that they cannot actually enter the store.

Advice on busy seasons like Black Friday and Christmas: No one knows how this busy season will develop. But you can take decisive steps based on your business.

Once your sales have been transferred to your online store, then it’s best to prepare immediately to serve more orders. We also encourage you to start setting your actual shipping date and delivery date.

2. Support local sole proprietorship

If this global epidemic has any positive impact, it may create a sense of unity among people. Communities everywhere are emerging to support disadvantaged groups.

Another phenomenon is that more and more people are supporting local small businesses that have been hit by self-regulatory requirements.

79% of those who said they were shopping in the area said they were shopping to support the local community or protect their local work. “64% of parents who take their children to school said they were ready to find and help local self-employed people.”

 

As a result of the investigation, we found the following.

• 46% of US and Canadian shoppers say they purchased products from a local self-employed company after the pandemic.

• 34% say they buy products from local self-employed companies more often than before the pandemic.
• 57% said they were deliberately looking for a local self-employed company.

• Among them, parents with children who go to school are easy to reach. 64% of the group say they are actively looking for and supporting local self-employed companies (54% in non-parent groups).

Why the trend continues

In fact, 61% of shoppers say they plan to buy products from local private companies within the next six months. This number is much higher than the number three months after the pandemic. This shows that this trend is not only continuing, but growing.

Very important point

Shoppers tend to prefer small self-employed people who offer their own sales quotes and personalized customer service.

Make the most of it as an advantage of communicating with your customers and skillfully explain how special your product or shopping experience is. “66% of survey participants say they learned about local businesses through comments from friends and family.”

But first, try helping local shoppers find your store. Sixty-six percent of survey participants say they learned about local businesses through comments from friends and family.

On the other hand, 37% of the respondents answered that SNS is a source of information. Attracting passers-by is also very important for retailers. In fact, 42% of shoppers explain that they found a nearby store while walking.

📍 How to attract local shoppers:

• Start a customer recommendation program to increase word of mouth.
• Use Facebook ads for local shoppers.
• Use Google My Business.
• List them in your local shopping guide.

Advice for retailers:

• Prepare clear and eye-catching signs on the road (including new coronavirus safety measures).
• Participate in the local Business Impact Analysis (BIA) and work with local businesses around you to jointly fund community-wide promotions and activities.

• Optimize your local SEO for online map publishing and update your Google Maps list to reflect your current business hours and information.
• Encourage comments and comments.

Busy season recommendations such as Black Friday and Christmas: If you have promotions during the busy season and need more customers, check out the new coronavirus safeguards. For example, do you need to limit the number of customers in your store and assign security personnel to ensure your safety? Consider what measures need to be added or enhanced to ensure a safe and comfortable environment for shoppers and clerk.

3. Demand for off-site pickup services

After the pandemic, the off-site shuttle service from grocery stores to pet clinics has become a recipe for many companies. Shoppers also have many advantages because they can receive the goods on the same day without having to enter the store or pay for express delivery.

This is a very useful service, especially for single parents and people with disabilities. Three months after the pandemic, 40% of shoppers chose to buy items purchased online in stores as one of the reasons.

Among shoppers using the off-site pickup service:

• 31% said they were new to the service from March to June


• 72% said they used the service more often during the pandemic than at the beginning of the year.

Why the trend continues

Our findings show that demand for off-site pickup services will continue until the end of 2020. In addition, the percentage of shoppers who use off-site pickup (38%) is almost the same, indicating that they intend to continue using the service in the event of a pandemic. What is the safety aspect? Another reason seems to be that it is a convenient service for many shoppers.

Very important point

If you have a large customer base in your area, or if you want to attract customers in your area in the future, we recommend that you provide an over-the-counter receipt online.

This is the answer when asking shoppers what they need to do to improve their in-store service experience.
• Contact us when you are ready to pick up: 29%
• Increase available time: 29%
• Reduced order-to-receipt time: 28%
• It would be nice if there were easy-to-understand signs on the pick-up location and website so that you could see the details of the pick-up location and pick-up method. twenty three%

In short, shoppers need simple, efficient and convenient services. The key is to smooth the receiving experience through easy-to-understand signs and all touchpoints (order confirmation emails, text messages, etc.).

Advice on busy seasons such as Black Friday and Christmas: Consider your ability to handle busy weekends. If sales volume is expected to increase, can we fully support the over-the-counter pick-up service? Set realistic limits and avoid making too many promises.

4. Request a local delivery service

Like off-site pickup services, local delivery (local delivery services) is becoming an increasingly popular alternative to home delivery and in-store shopping.

Pandemics and political interference (especially in the United States) are affecting the credibility and delivery times of courier companies, and many companies take their own steps to deliver goods to their customers. This is especially important for companies that handle products that are not normally delivered at home, such as fresh food.

The survey revealed the following:

• 31% of shoppers say they bought online from a local store during Corona’s three months.

• 19% said it was their first delivery. In addition, 59% said they used delivery services more often than at the beginning of the year.

Why the trend continues

Delivery delays and service interruptions by major carriers (especially the United States) have not stopped the popularity of delivery services in the region.

In addition, delivery services are becoming more popular due to the remaining risks of shopping in stores in many regions. According to our survey, 33% of shoppers will choose local delivery services by the end of this year.

This is the same percentage of respondents who have already used the delivery service.

Very important point

As mentioned earlier, the tendency to support local businesses does not seem to slow down. We also encourage you to take advantage of this momentum by adapting to the buyer’s new shopping methods.

Introducing local delivery methods to your restaurant or other online store is very easy. However, before you start the service, you need to check if there are any physical restrictions. Have you set the delivery range? Need to hire another courier? Do you charge a delivery fee?

Please be sure to provide these details to the customer before payment. When I asked shoppers how to improve (and get them to use) delivery services, they found that:

• 62% said they would choose a store with free shipping.
• 36% said they would like to offer a free return service.
• 32% want faster delivery.

Recommendations for busy seasons (such as Black Friday and Christmas):

Consider a delivery schedule that can handle emergency flights. Same-day or next-day delivery may not be a viable option, but if the delivery schedule changes, it is important to communicate clearly with the customer at some step in the purchasing process.

5. Look at the virtual experience

Measures to avoid going out and social distance can be said to have the greatest impact on the service industry. Companies such as gyms, hair salons and art studios are forced to improve their digital strategies in addition to rebuilding their businesses.

Some companies need to recreate new products from scratch. For example, yoga studios and cooking classes have embarked on their own video production to offer virtual courses on demand. An Italian grandmother begins broadcasting an online cooking class in an Italian village where the number of tourists has dropped sharply due to a pandemic.

Companies that communicate face-to-face with their customers have found ways to connect digitally with their customers through online consulting, AMA (questions), and events. When the event was canceled earlier this year, cosmetics brand I Meet You sought to connect with customers around the world through a virtual event hosted by the organization’s founder, Charlotte Cho. ..

The survey revealed the following:

• 14% of shoppers say they have purchased a digital version of the service, which is usually face-to-face.
• For the 18-35 year old group, this number rises to 27%.
• This trend is expected to continue to grow. Sixty-three percent of people who buy a digital experience say they use the service more often during a pandemic than at the beginning of the year.

Why the trend continues

Local stores are slowly reopening, but consumers still seem reluctant to return to “normal business.” Therefore, the trend of virtual experiences is expected to continue throughout the year. In fact, 14% of shoppers say they will continue to buy virtual experiences. This is the same percentage of people currently using it.

Very important point

Digital products and services are not limited by geographic location and scheduled time, which can double the potential for expanding your customer base. In addition, product digitization helps attract repeaters until the store can be safely reopened.

Even if you don’t run a business that sells virtual experiences, you can create digital content, sell products, inform your customers, and help your business community grow. In fact, 37% of shoppers say they are interested in free online courses and educational content derived from their business. In the 18-34 year old group, this percentage rises to 57%.

Recommended for busy seasons such as Black Friday and Christmas: Maximize your sales awareness and offer a virtual experience through discounts and free trials.

Lead the future

No one can predict that 2020 will be this year. Unexpectedly, this pandemic has accelerated the changes in buying trends that have already begun and strengthened the prediction that this consumer trend will continue. Overcoming a global pandemic is a business that can flexibly respond to ever-changing times and connect with shoppers around the world.

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5 Reasons Hannah B. Should Have Picked Tyler Over Jed

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5 Reasons Hannah B. Should Have Picked Tyler Over Jed
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*SPOILER ALERT* Bachelor nation is up in arms about the Bachelorette’s 15th season finale and Hannah’s decision on the final rose.

Hannah B., also known as Hannah Brown, Hannah Beast, and most wildly known as the Bachelorette, worked all season to find her happily ever after. After a long summer, she disappointed a lot of the show’s fans with her decision. A shocking and different finale unfolded afterward and quite honestly, I have a few things to say about her decision as I’m sure all of us fans do. If you’re not yet caught up, beware that this article may spoil the finale for you if the title didn’t already give it away.

1. Tyler treated Hannah better throughout the season

Jed was definitely only there to make a name for himself, while Tyler was there to meet the love of his life. Tyler is definitely nice to look at and is a huge ladies’ man but in the best way. It was proved throughout the season that Tyler respects women and clearly, Jed doesn’t because he lied about another girl from home all season.

2. Tyler picked a better engagement ring

Not that Hannah knew because she never saw the ring Tyler chose, but Tyler’s ring was definitely bigger, more modern, and prettier than the ring Jed picked. This also says something about Tyler’s taste for the finer things, which is something to consider when getting engaged ladies!

3. Tyler is better looking

That’s it, that’s the argument. Don’t @ me, it’s the truth.

4. Tyler’s family adored Hannah

Let’s flash back to hometowns and remember when Hannah met Jed’s family. Jed’s family had a lot of reservations and didn’t exactly love Hannah. On the other hand, Tyler’s family loved Hannah. When Hannah’s family came to Greece to meet the final two bachelors, they even mentioned that Tyler would be a tough act to follow and basically insinuated that they preferred Tyler. We’re with you, Hannah’s family.

5. Tyler wasn’t overly concerned with Luke P. drama

Obviously, Luke P. was psycho and got on everyone’s nerves. While Tyler stood up for Hannah in situations with Luke and stuck with the other men in the game to fight against Luke, Jed took the drama to a whole other level. Let’s not forget Jed even used 1-on-1 time with Hannah to talk about her relationship with Luke.

Tyler was in it for Hannah and Hannah only

We all know now that Jed basically used Hannah’s season of the bachelorette to promote himself and his music. Tyler, on top of all the previous reasons mentioned, came onto the show to find love and be 100% for the bachelorette (which ended up being Hannah).

While all of us #TeamTyler fans may be happy that she inevitably ended the show by asking Tyler on a date, leaving the potential for them to end up together, we have to keep the same energy from the beginning of the finale when she picked Jed. Tyler is not a second option and as far as I’m concerned, Hannah no longer deserves Tyler’s love.

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Instructions to get your initial 1000 Instagram followers

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Instructions to get your initial 1000 Instagram followers
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Each individual, from the conventional individual to the stars, influences the chasing of all territory unit Instagram as a significant inventory of correspondence with people and allies wherever in the world. In this manner on the off chance that you need to be an influencer on Instagram which can be a major stage, the essential issue you ought to do is to extend followers.

On the off chance that your posts don’t get enough likes and you’re not a tremendous supporter, at that point, you’re an everyday Instagram client. It is highly unlikely to accomplish objectives on Instagram, even though you are extra required on Instagram, the extra likes and followers you can wear to your post.

Interestingly, the GetInsta application is free. GetInsta is an extraordinary device to encourage free Instagram likes and followers. GetInsta can be a free friendly based application to grow real Instagram followers and likes.

Important Features of GetInsta

  1. Simple to utilize

This application is easy to utilize and accompanies an instinctive program. No extraordinary abilities are needed to utilize this application and you should simply enter your Instagram subtleties and begin falling prey to this application.

  1. Security and Privacy

The Security and Privacy Zone unit fundamental alternative to any application we use. GetInsta has been created by a particular and prepared group, in this manner, it tends to be free from any dangerous application. There are no infections in GetInsta. GetInsta gives total protection to your information with no spillage information and danger. It gives significance and keeps up your protection. You’ll have the option to get orderly upgrades of decisions with genuine Instagram followers app and the GetInsta security framework.

  1. Get free Instagram followers at no danger

While acquiring extra followers, the decision will likewise increment simultaneously. All Instagram followers and likes are going to be shipped off you during an insightful time, naturally and commonly. Hence, you are not facing any challenge of being illicit or impeded for great.

  1. Supports various languages

The GetInsta tool will uphold very sixteen dialects and you will want to choose the language you need to pick without any problem. You will want to alter your profile to be incorporated by checking the profile segment and through the Settings tab.

  1. Complete free Tool

You ought not to utilize the money to feel Instagram followers and likes. GetInsta is a free tool. Anyway, you need to procure the coin. At the point when you enter GetInsta, you may get an unlimited coin and you will want to search for Instagram likes and followers. You will want to make coins by working straightforwardly on the GetInsta application.

  1. Genuine and Organic

Clients given by the GetInsta region substance are genuine Instagram clients, not to trick Instagram clients made by a certain something. Likes and followers by dynamic and genuine Instagram records can get you the territory unit.

Steps for utilizing GetInsta:

  • Make an account by signing on to the application or site to get computerized coins immediately, which might be utilized to purchase followers and likes.
  • At that point, add an Instagram account, even though you have a ton of Instagram accounts.
  • Select an Instagram account that you need to extend followers.
  • Check the improvement you need just benefit.
  • You need to acknowledge coins to encourage extra Instagram followers.
  • To gather any coin, check the objectives set by others and spot on the coin symbol.

 

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How to pay off credit card debt quickly!

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How to pay off credit card debt quickly!
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Paying off credit card debt can seem overwhelming and overwhelming at times. The good news? You have started to accept the idea of ​​living without debt!

The challenge? Where to start! You have collected a great deal of credit card debt over years of living an uncontrolled financial lifestyle. What seemed like an innocent expense at the time, a coffee here or a night out at the movies there, ultimately added to a difficult place to be. Perhaps your credit card balances were maxed out or closed. It is entirely possible for your interest rates to rise to 20 percent or even more. In addition to the pain would be the penalties derived from the missing payments.

The unenviable process of borrowing from credit card debt and the potentially devastating consequences of lifestyles, to which many have often become extremely accustomed, can put great strain on health, relationships, and quality of life. lifetime.

To anyone who has found themselves struggling and struggling with credit card debt and tried, let alone succeeded, we salute you. We have helped thousands of consumers break through the chains of heavy credit cards and other unsecured debt and have witnessed countless stories of success along the way. One thing is for sure, usually, when there is a will there is a way, and while it won’t be easy, rest assured that winning the fight will bring such sweet and rewarding relief that it will make all the efforts worthwhile!

This guide to beating and overcoming credit card debt has been designed to help you as motivation or future reference as you meet the challenge head-on.

TAKE FULL OWNERSHIP OF YOUR DEBT

Don’t underestimate the power of looking in the mirror and taking responsibility for something you can change. Credit card debt, and the way it tends to slowly spiral out of control, almost always starts with bad choices, and that’s okay. It happens to thousands, if not millions of people around the world every year. The most important thing to keep in mind is that when something goes wrong and produces poor results, you can actually improve it by choosing a different and healthier approach.

While this lesson can be applied to many different facets of life, it is extremely relevant to successful credit card debt removal. Rising credit card debt actually became a problem when the first statement came in and you couldn’t pay it in full. Credit cards, when used responsibly and for a purpose, can be a good thing. The caveat is that the balance owed should never have been delayed beyond the first payment due, even in cases where a hefty zero percent interest rate is offered for several months, as that ultimately delays the inevitable for many. persons.

It may sound tough, but we firmly believe that taking full responsibility and ownership of your credit card debt will get you off on a positive footing. Considering how many negative feelings and ultimately the overall negative lifestyle impact that comes with overwhelming credit card debt, taking the initial sting of accepting responsibility early on will make your way toward a debt-free life is considerably smoother.

 

LIVE BY A BUDGET

As Money Fit Education Administrator Todd R. Christensen routinely reminds attendees of the personal-finance workshops he presents, budgeting is for anyone who wants to not only stabilize their finances but also anyone who wants to avoid it altogether. debt-related problems.

Developing and living on a family budget isn’t just about balancing a checkbook. It’s about being prepared for all expenses, including items like car repairs, a trip to the dentists, and more. Strong budgets take into account financial goals and priorities, track actual spending down to the last penny, and help you identify where you have unnecessary spending.

With a budget you live with, you’ll be armed with your actual spending history and will most likely find extra dollars to help pay off your credit card debt. If you find an extra $ 20 per month, which would generally be low, you can apply it to your debt and speed up the payment process. Budgets are beneficial to everyone because of the extremely valuable information they apply and the stability they can provide, as well as the funds released that may have remained hidden.

 

SETTING GOALS: SMART

If you want to make real progress, you will need to set financial goals. With the right kind of financial goals, you will feel comfortable and confident in your progress. However, if you don’t have a solid plan, a goal is just a dream. That’s why we recommend SMART goals.

You may have heard of SMART goals. While there is a traditional version of SMART goals that is taught around the world, the following is a modified version: specific, meaningful, achievable, rewarding, and timely. Let’s follow these steps to create powerful personal finance goals.

S pecific: Write down what you want to do, buy or achieve. Include details that answer questions like “Who is involved?” and “Where is this activity or product?”

M eaningful – A goal must be important to you. It could be a beach vacation, a picnic in the mountains, or a set of new tires for your car. If it is important to you, it will be motivating and you are more likely to stick with it.

A ttainable: Keep the amount of money required for this modest goal, which generally requires $ 1,000 or less. If the amount becomes much more than that, you are less likely to see it as a realistic goal.

R ewarding (Rewarding): Imagine achieving the goal. Write down a few words or phrases that you think will describe how you will feel. You can write something like, “I finally feel like a burden is lifted off my to-do list when I remove this goal.” Give this step a little time. Consider why you want to achieve this and explain it.

T Emily (Oportuna): Enter the month and year you want to achieve this goal. Writing “six months from now” is not enough. Every time you see the goal in the future, it will still tell you that you have another six months. That’s not good enough. Write down the month and year you want to achieve the goal and make sure there are no more than twelve months to go. Beyond twelve months, for most of us, time becomes too long. It becomes too easy to see as long as “long”. When you keep the deadline short, you are more likely to go to work immediately.

Try to use the SMART method when setting your financial goals. You’ll probably be glad you did!

 

AVOID EQUITY LINES IN-HOME CREDIT OR DEBT CONSOLIDATION LOANS

In one go, you could eliminate all of your unsecured credit card debt. Gone would be the worries of having multiple payments, cards that charge high rates and fees, or both. On initial consideration, this may seem very tempting, but as we’ll explain, HELOC (Home Equity Line of Credit) or Debt Consolidation Loans can cause enormous financial stress in the long run.

Consider this, if you swap your unsecured credit card debt for a line of credit attached to your home equity, you’re essentially betting that you won’t have a problem with repayment, putting your home as collateral. The worst-case scenario would be that you lose your home because you took on unsecured debt and secured it with your home.

Money Fit advocates for and provides debt consolidation to people in need. We do not promote the use of debt consolidation loans. At first glance, debt consolidation is the act of consolidating multiple debts into one payment. This can be an effective strategy when done without a loan. Once you take out a large loan to pay off multiple small loans, there is a massive risk of running your initial credit card debt right where it was, only now you have to deal with a large debt consolidation loan. If you haven’t remedied the source, which is generally bad spending habits, and you’re still on a debt consolidation loan, you should avoid using your newly paid credit cards at all costs.

 

CUT YOUR CREDIT CARDS

A powerful and symbolic approach to dealing with credit card debt is to start by cutting it off and removing your access to use it. It can be a difficult step to take, but once the cord is cut, you can begin to depend on the cash you have from your income. No more loans and payments more than necessary. No more staying in a vicious cycle that repeats itself constantly; charge, pay the minimum, charge, pay the minimum, charge, pay the minimum and never have an impact on the balance of the cards.

You have already accepted responsibility for runaway credit card debt. Now, in a defiant display of power, he has cut credit cards and made himself enormously strong. When you wage war on credit card debt, you effectively agree to never trust it again. You will not need the plastic when you arrive at your destination debt-free.

 

START SELLING BY SELLING UNUSED OR NON-NEEDED ASSETS

Take a look, maybe you have things that you no longer use or need that you could sell and apply to your credit card debt? Maybe you could hold a garage sale or sell online? You might be surprised how some of your items that you no longer need or use would be worth to someone else.

Doing this can give you a good lump sum to apply to your credit card debt and provide a next-level boost when starting your repayment.

On a side note: don’t touch investment dollars like retirement accounts to pay off your credit card debt unless you talk to an investment planner and possibly consider a 401k loan that allows you to pay interest yourself. While it can be tempting to eliminate a good chunk of debt right away, you should proceed with caution, especially when it comes to your retirement financing. Selling a 401k could cause problems due to the IRS imposing early withdrawal penalties, not to mention falling short when it comes time to retire.

 

PAY THE SMALLEST DEBT FIRST (SNOWBALL METHOD)

The debt snowball method, which aims to attack the smallest balanced credit cards first and then apply that payment to the next card in line, is a preferred method of repayment for people managing their card debt. credit on your own. The snowball method, while potentially a bit more expensive than the alternative debt avalanche method (attack higher interest rate accounts first) provides an extremely important component of motivation to pay off credit cards.

Psychologically it can be very important to see progress when we embark on a mission as challenging as paying with credit cards. Smaller rewards, like removing the first card off the list, can provide a great charge of positive energy and the motivation to keep pushing.

Debt management plans, such as the program offered by Money Fit through the organization’s nonprofit credit counseling services, tend to combine strategies and often attack the highest interest rate payments first. However, the person who relies on the debt management plan is often more concerned that balances are going down overall and not as much of a need to see the progress of the individual account as those who are paying on their own.

MICROPAYMENT MATTER: MIX THE SNOWFLAKE METHOD WITH THE SNOWBALL METHOD IF POSSIBLE

In order for the snowball method to take off and eliminate the debt at a faster rate, we recommend mixing it with what has been coined as the snowflake method. It is not an alternative to the snowball method because it still depends on attacking the smallest balance first until it is removed.

Because interest rates are calculated using an average daily balance formula, you can save money on interest by paying as soon as extra money is available.

Here’s a hypothetical situation, let’s say that during your budget you see that you are wasting a considerable amount of money each month buying a large specialized mocha on the way to work each morning. Instead of spending $ 5.00 on coffee, you would make a one-time payment to your credit card with the lowest balance. Do it 5 times a week and that’s an extra $ 25 that week for that card.

Some might think, why not wait until the end of the week and submit the $ 25 payment? Or wait until the end of the month and pay an additional $ 100 on the card? There are two reasons to send the payment as soon as the money is not spent. First, once the money is sent to the creditor, it cannot be spent. Effectively close any reason for not having it available at the end of the week or at the end of the month. Second, interest rates are calculated using an average daily balance formula. You can save money on interest by paying as soon as the money is available.

If you keep those payments smaller, you will eventually get out of debt sooner and the effort will be well rewarded. You will have to stay exceptionally motivated to pull it off, but get into a routine and it won’t be a problem.

 

FIND ADDITIONAL SOURCES OF INCOME

At the end of the day, after the entire budget is completed and plans are made, your current income may not allow you to meet your credit card payment obligations quickly enough. To expedite the postponement, you may consider finding a part-time job, a weekend job, or even working from home in your spare time.

If you are in a one-job home where a partner stays at home, maybe they can help you in the short term?

It doesn’t sound nice, but at the end of the day, the added income could be extremely rewarding. The ultimate goal is to give up the burden of debt for the rest of your life. It can be difficult to visualize, especially if you’ve struggled to make minimum payments for a considerable period of time, but it’s worth it. The freedom you will gain to really start living life on your own terms will be worth the sacrifice in the short term and could open doors you thought were closed, such as being able to travel or even start your own business. Maybe you want to help a child in college? The opportunities become almost endless.

 

STAY RESILIENT, FIND A MOTIVATIONAL SOURCE AND ADD ON THE

It sounds simple enough, but the truth is that time has a menacing way of removing the immediacy or urgency of things. That can be a blessing at times, but it can also be a hindrance. When you take on the task of paying off your credit card debt, you want to be vigilant at all times. You won’t be perfect and you shouldn’t expect to be, but you always want to keep an eye out for the prize.

Find a source of inspiration and, of course, use it. Maybe you’re following a personal finance expert like Money Fit author and educational manager Todd R. Christensen? Maybe it’s as simple as keeping a photo of your loved ones close by and using it as motivation when the going gets tough? Regardless of what you wear, know that you are not alone and that you can surround yourself with positivity and encouragement. Debt is no longer as taboo a topic as it once was. People have learned that supporting each other is good for everyone in the long run. Don’t fear judgment. You are the one with financial freedom and overall peace of mind on the line.

Once your payment plan begins, we recommend that you do not look back unless it is a reminder of what not to do if you sense that you are falling into old habits. You know what got you into this mess, there’s no reason to beat you up for it. Keep your mind and your goals forward-thinking and the sky really will be the limit.

You have our best wishes as you embark on your journey. In assuming your debt, we invite you to use Money Fit as a resource, regardless of whether you are a customer or not. As a non-profit organization with over 20 years helping consumers live debt-free, we have made it our mission to help each individual conquer their debt by providing educational resources and encouragement.

If the prospect of paying your debt on your own is daunting and you want to be considered for inclusion in our debt management program, we invite you to provide your information online so that one of our certified credit counselors can get in touch, or you can call us toll-free during normal business hours to schedule your free consultation.

 

Bankruptcy as a Last Resort

As we address the issue of paying off your credit card debt, we want to make sure we address your bankruptcy filing. Our goal is to help people overcome their financial problems by repaying their debt in full (which is why we do not recommend debt settlement as an option) so that they can protect and build their credit score. Over the course of a person’s life, a positive credit score can be extremely advantageous over a poor one.

That being said, there are reasons why bankruptcy is available. If you have not filed for bankruptcy in the last 8 years, you will need to speak with a highly qualified and qualified bankruptcy attorney. While Money Fit provides bankruptcy advice and debtor education, we are not attorneys and we do not provide legal advice. All information is provided for consumers to use for research as they seek to learn how to manage their debt and should not be construed or construed as legal advice.

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