Top Ways Of Keeping Your Credit Cards In Check - Personal ...

The easiest way to get debt in your life is not to pay your credit card bill. Most people love the advantages of having a credit card such as instant buying when you want an item you desire or the ease of getting out of any emergency. Credit cards are lovely when they increase your purchasing power but they can be the monster in your wallet when they increase the money you owe the bank.

You do not have to be caught in the trap most people are in that is credit card debt. Whether you have just gotten yourself a new credit card, have gotten one for your young adult there is no reason to have the worried look on your face. It is possible to live a life that is debt free. Credit cards should aid your finances and not ruin you.

Don?t fill your wallet with cards

Most people especially college students like the feeling of having more than one credit card to their name. There is no problem with that actually but the issue arises when you have about five or six credit cards.

Chances are when you have such a high number of cards you will not be able to track your spending. Even when one maxes out, you just proceed to the next one without much thought. Before you realize you are deep in debt and you do not know where to get the money to repay the credit company. To enjoy using credits cards, stick to having less than three.

Place limits on your credit cards

Ensure that the credit cards you are using have reasonable limits. If you know, you are a huge spender you can ask a friend to help you set the limit and be there with you as you make that c all to the company. High limits make you want to spend even when you do not want to because you know your credit card limit at the back of your mind.

Carry only one card at a time

If you have more than one credit card ensure they are not in the same wallet or purse. Identify one card for spending and the other for emergencies or travelling. That way you do not end up spending until you get to the limit of all your cards.

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Do not bite off more than you can chew

When you get your credit card statement at the end of the month and find that the bill is much higher than you can pay, discontinue using that card. Using the card with an unpaid bill is the first step to credit card debt. First, you will be charged for the unpaid amount and the higher it gets the more interest you have to pay. Stop using the credit card until you completely pay off the debt. Make it your money principle to start a new month on a clean slate.? It is not difficult to have your credit card bill at zero balance at the beginning of each month.

Keep track of your records

Tally your receipts to your monthly statement to enable you to note early in the event of fraud. Some people are indebt simply because someone out there is defrauding them.

Smith Jones works as a financial advisor for debtconsolidation.com.au and provides financial aid solutions for their clients. He also authors blogs about financial tips, preventing bad debts, and bankruptcy.

Source: http://pfsuccess.com/top-ways-of-keeping-your-credit-cards-in-check/?utm_source=rss&utm_medium=rss&utm_campaign=top-ways-of-keeping-your-credit-cards-in-check

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