CREDIT CARDS DEBTS

Credit cards is the ultimate seduction. They're so easy to use, they offer you everything you could ever possibly want to buy and they encourage you not to think about the consequences. They're also a necessary part of modern life.

They can be a TRAP for the unwary. It is the reason you never get out of debt and never have any money to save or invest.

Using a credit card responsibly means :

1. Only make purchases within your existing budget
2. Never purchase perishables with a credit card
3. Paying off your credit card bill in full at the end of each month
4. For larger purchases like appliances or furniture, pay off your bill within a year
5. Never get into more debt than you can afford to carry

Some helpful hints about credit cards :

Here's what you do if your credit card debt is getting out of hand. First, don't blame anyone but yourself. Next - stop using it. Don't accumulate any more debt. Limit yourself with just 1 or 2 cards. Don't get anymore new cards. Freeze all your credit cards in your freezer.

Check out your statement the interest rate they are charging you. Think about an investment that pays you an interest at the same % a year.

Therefore, paying off your credit card debt is your 1st priority in your budget. Make sure you pay more than the minimum charge for each of your cards. Pay by CASH instead of using future money. You will learn how to budget your expenses if you use CASH.

The above is based on my years of experience in dealing with credit cards with some reference from the experts.

I welcome you to share with me and others if you have any better solutions to settle credit card debt.

Control Your Credit Cards Usage !