How Not to Accumulate Credit Card Debt
Let's face it: at least 2 out of 10 Americans have delinquent credit cards and bad credit standings.
This is something you would not want to face in the years to come.
We all know that a bad credit standing is directly proportional to a hard time getting loans, renting a house, and just about anything that has to do with credit checks.
Before you become a victim of credit card debts, here are some simple tips that you can do so without depriving yourself of a plastic.
First and foremost, know your credit card details.
Make sure that you know how much your credit limit and due dates are.
If you have an organizer, it would help to write it down just to be sure that you won't forget about it and acquire interest charges later on.
Second, know how much your monthly income is.
Jot down how much you earn and subtract all your monthly bills such as rent, electricity, car mortgage and groceries.
The final amount is the only amount you can spend, give or take a few hundred dollars for everyday expenses.
Make sure that you do NOT spend more than the final amount so you won't scamper for extra money when your credit card bill is due.
Lastly, paying in cash obliterates the need to pay for credit card bills later on.
If you have the cash, better settle your needs with it.
Why wait until the bills are due before paying for it when you can pay for it now, right? It may take quite some time before you can get used to having a card in your wallet and not using it for impulse purchases.
However, with discipline, you will not be a victim of credit card debt later on.
This is something you would not want to face in the years to come.
We all know that a bad credit standing is directly proportional to a hard time getting loans, renting a house, and just about anything that has to do with credit checks.
Before you become a victim of credit card debts, here are some simple tips that you can do so without depriving yourself of a plastic.
First and foremost, know your credit card details.
Make sure that you know how much your credit limit and due dates are.
If you have an organizer, it would help to write it down just to be sure that you won't forget about it and acquire interest charges later on.
Second, know how much your monthly income is.
Jot down how much you earn and subtract all your monthly bills such as rent, electricity, car mortgage and groceries.
The final amount is the only amount you can spend, give or take a few hundred dollars for everyday expenses.
Make sure that you do NOT spend more than the final amount so you won't scamper for extra money when your credit card bill is due.
Lastly, paying in cash obliterates the need to pay for credit card bills later on.
If you have the cash, better settle your needs with it.
Why wait until the bills are due before paying for it when you can pay for it now, right? It may take quite some time before you can get used to having a card in your wallet and not using it for impulse purchases.
However, with discipline, you will not be a victim of credit card debt later on.
