Shelby has been out of college for about a year and has continued to work at the pet store full time. She recently got engaged to Mark Lawrence. After the last year of saving, she now has an adequate emergency fund. However, in the last year, she and Mark have used credit cards to make many of their purchases. They used cards (they each have several) when they ran out of money near the end of each month. They also used credit to fund a vacation to the beach. Shelby justified the trip and many of her purchases because both of the cards she uses have rewards programs. Both Shelby and Mark almost always make their payments on time but have been unable to pay off more than the minimum balance every month, leaving them with credit card debt.

Shelby and Mark would like to get married soon and possibly even buy a condo, but are not sure how to finance these things while also starting Shelby’s pet salon.

Questions 1. Given her current situation, list some suggestions on how Shelby can reduce her credit card debt.