Credit Card Debt

Credit Card Debt

Your Credit Card Got a Mind of Its Own? Is your credit card out of shape?

Let’s be honest, there is an abundance of credit available. The humble credit card gives instant gratification. Getting what you want right away, doesn’t matter if you have the cash to pay for it or not. This can cause a real drama for some, resulting in over spend, maxing out the credit cards and little control over finances. If you need a push back in the right direction or looking for some information to keep yourself out of trouble,  look no further. Here are some helpful tips that will get you thinking twice before using your credit card next.

Instant Gratification

With society as fast paced as it is, we are in a time where everything was meant to happen yesterday. Being unable to exercise self control when it comes to money can impact all aspects of your life. Not only an unstable financial position, you’ll find problems stemming through to your health, weight and relationships.

Budgeting

Money is probably one of the main reasons why couples and families fight. A touchy subject at the best of time, particularly when there’s not enough of it. Having a budget is a great way to keep track of spend and ensure it stays under control. It’s not as hard as it sounds, you can keep track of your spend on a pen and pad or on a smart phone application. The key here is to plan your expenses, then keep track during the month. You’ll be surprised when reviewing your spend for the month that’s passed on how much you’ve spend on coffees, lunches, etc.

Peace of Mind

Do you worry about late fees, interest, annual fees, over limit fees, and when that statement is coming? If you don’t owe anyone money you won’t have these thoughts lingering in the back of your mind. The most rewarding things in life usually require a little bit of sacrifice – like saving up for something and buying it when you can truly afford it. The peace of mind that will come with not financing your purchase makes it that much more rewarding.

Final Word

Remember, not financing your purchases doesn’t mean you can’t pay with a credit card – you just have to pay your bill in full within a month. The convenience, protection and rewards offered by credit cards make them a handy tool if you use them wisely.

The truth is if you can’t really afford it, you may be giving yourself a gift in the short term, but you’ll be giving yourself an expensive headache in the long run.