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Avoiding the Accumulation of Credit Card Debt


Have any kind of credit card debt does not really have to be a way a life. Even if society tries to lure you into believing that you can't get anywhere in life without a credit card is something that truly should be ignored. Because it really is not the truth. It's nothing more than a trap to get more of your hard earned money, credit card companies are not there to help or give, they are only there to take.

The ideas within this article are to hopefully help those who are new to credit cards and those who have had credit for a long time keep themselves out of the credit card debt trap. These ideas are to try and help each person who has a credit card be a more responsible card holder.

Don't treat your credit card like it's a debit card because it's not. Because you have a credit card does not mean that you have extra money. A common myth held to be true by many is that a credit card is just an additional bill to be paid each month so why not spend what's available? This will also lead to many card holders paying just the minimum payment each month which keeps them under the thumb of the credit card companies with all the high interest rates they'll be paying.

Make sure that you always balance your finances to make sure you know how much you have at all times. You can do this simply by keeping up your checkbook or using a financial software to help you keep tabs on all of your finances. This will make it easier for you to see just how much money your really can or can't afford to spend each month.

When you do happen to use a credit card it's a good idea to treat it just like your debit card. As soon as you purchase something deduct it from your checkbook. You're going to be paying the bill anyway you might as well deduct it and write a check for it as soon as you get home. You do this and you might think twice about using your credit card so freely.

Another good thing to do is to try your best to pay the entire credit card balance each month. Not only will this save you on interest it will also more than likely keep you from running the bill up to high. This will again teach you to stop treating your credit cards like they are some sort of extra cash. If you spend less than you earn there really shouldn't be any reason for you not to be able to pay off the entire bill.

Make sure to stay away from those checks they send you as well as the lure of taking advantage of cash advances through your credit cards. This is one of the easiest and quickest ways in which you can get you into debt with your credit cards.

Make sure that you always have enough month at the end of each month to pay something on your credit cards, whatever you do, never miss a payment. Even missing one payment can get your interest rates raised on you in a heartbeat. So make sure that you do whatever you can to pay them each month.

The most important thing about all of this is simply don't spend money that you really don't have and a credit card is not cash on hand. Be responsible and do your best to pay for everything with real cash and not with plastic.



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