Saturday, August 25, 2012

The Credit Cards life

Most of us may have one or two Credit Cards, right?

Most people think having a credit card is a bad idea, or having one will let you over spend on things that you don't need.

This ideas are sometimes rights if you think your credit card is an extension of our monthly pay check. Here might be some ways to keep out of credit card debt.

1. Always remember, your credit card has a limit, which is what is left on your monthly pay check. Don't go out and spend because it's pay day or sale. You must save for yourself and family, pay your regular bills, and last the needs of your family.

2. Buy only what you really need. Never buy what is "IN" or "NEW", that is a common attitude of most people, buying stuff that their peers have.

3. If you really need to buy, make sure by the due date of your credit card you have a ability to payoff your card, minimal due will do but full payment is much better, Interest will keep growing if you don't pay it all off.

4. Already in credit card debt, rule one, pay as much as you can, without sacrificing our plan on savings, pay the regular bills, and the needs of your family. If you have another credit card, sometime they offer Balance Transfer, you still pay interest but in a fix term and amount for a fix period not like having to pay the minimum amount on your card always it will just add up.

5. Last, if we can do it, try not to use your credit card at all, just in case of emergency.

Hopefully this can help us in our credit card life.

No comments: