Charging Less on Fees, Receiving More on Debt

I have never paid a late fee on a credit card. That's the standard- pay your bills on time. Some cannot due to extenuating circumstances. Lowering late fees from thirty-two dollars to eight dollars gives consumers twenty-four more dollars to pay down debt.

Don't spend that money on lottery tickets. Take this as an opportunity to lower the debt. The lower the bill, the lower the interest. It is a good feeling when one credit card is paid off.

That could build momentum to pay down and eventually pay off another. Debt is a prison. With over one trillion in composite credit card debt (a far more real number than "One billion LinkedIn accounts") people need a light at the end of the tunnel. This is a way to remove unnecessary fees.

The money for fees are going to billionaires who don't need it and probably don't pay taxes. An eight dollar fee is still a deterrent. Late fees are something to avoid. Life is expensive enough.

I shall never attend another concert because "Convenience fees" are offensive. I was at a performance in a bar. There was no cover and it was a beloved performer whom I shall write about later this year.

Madonna? Not quite. Rocket To Uranus references aside, lowering fees is going to benefit some who feel their debt is insurmountable. It is challenging. There are some who have paid off their college loans.

It isn't easy and requires a lot of belt tightening. They did what they had to for a few years and can get it off their chest. It is a good feeling to move beyond any adversity. If one bill is paid off, you can work on the next one.

Work on them one at a time. It is like cleaning. You can see your entire garage and it feels daunting. Focus on one section and you can move to the next. Progress is made little by little.

Lowering late fees can help to chip away at debt. Junk fees are disappearing. That is something good that benefits many. Spend your money on experiences, not fees.