Hi everyone I'm Laura Adams. Welcome back to another episode of Money Girl.

Before we get started I want to invite you to a special event that I'm kicking off in just

over a week called dominate your debt. I'll be offering a webinar event, plus you can also

enroll in online group coaching for ongoing personalized advice.

Dominate Your Debt is for everyone who wants a crash course in smart strategies to get out of debt

as quickly as possible so you can live a richer life.

To learn more and sign up for the webinar and coaching program, please visit dominate

your debt.com. I look forward to seeing you there. And speaking of

debt in this episode I'll cover one type of debt management strategy which is

using balance transfer credit cards.

You'll understand the right way to use them

so you cut your interest expense, save money,

and get out of debt faster.

A balance transfer card is a special type of card that offers low or 0%

interest for a certain amount of time, which is known as the promotional period.

Promotions vary depending on the card,

but they're generally in the range of six,

maybe up to 24 months.

The longer the promotion, the better.

Until it expires, you can keep a balance on the card without having to pay one penny of interest, at least for those 0% offers.

Let's say you're carrying a $5,000 balance on an expensive credit card that charges 22% interest.

If you move it to a transfer card that charges zero percent interest for the first 12 months,

...