On How To Prevent Credit Card Debt
Posted on September 18, 2009 at 12:16 am
I am looking for ways on how to prevent credit card debt. Hope you can help. It's something I'm trying not to happen but given current circumstances I think that may not be possible
Posted on September 18, 2009 at 1:17 am
One helpful piece of advice that a friend gave me on how to prevent credit card debt is by not allowing my credit card balance to be remotely near my credit limit. It may be harder for me to pay off the debt in the future if that happened, she said. Also, it sends a bad signal to the creditors.
Also, going beyond your limit may result in being charged with over-the-limit fees, which may prove to be more detrimental for you in the long run.
Posted on September 18, 2009 at 1:36 am
How to prevent credit card debt:
One of the most surefire ways to do this is by creating a budget and
sticking to it. It's easy to get to tempted with buying items or services that we think we need
right now, but in reality, most of the items that we purchase only tend to be things that depreciate in value. If you want to buy something, you need to think about it multiple times before swiping your card--and of course, check to see if that item or service fits your current budget. Otherwise, you run the risk of being unable to take care of more important things like your mortgage or rent, utilities, and the bills that need to be paid.
Posted on September 18, 2009 at 3:22 am
Another way to prevent credit card debt is by NOT buying the "balance transfer zero-interest-credit-card" teasers. These really will not last a very long time. If you must use a balance transfer, make sure that you are able to aggressively pay down the balances within the zero-interest period. Failure to do so may bring you more debt than you can actually manage.
Posted on September 24, 2009 at 12:08 am
Also, prevent credit card debt by making it a point to save. A good amount to save would be 10% of your total net income. Savings play a big role especially in emergencies when we would need spare money handy.
Posted on September 28, 2009 at 6:56 am
how about putting up a garage sale? that helped me in preventing credit card debt... well it helped me get out of it, too, it was really helpful too
Posted on October 19, 2009 at 1:37 am
how to prevent credit card debt... well, pay everything in full and on time.
Posted on October 19, 2009 at 3:29 am
Good point, Mei Mei. One of the foundations of being able to prevent credit card debt is to have the self-discipline and responsibility to allot finances accordingly to our bills.
Posted on November 4, 2009 at 2:52 am
If you'd also want to know more about how to prevent credit card debt, feel free to fill out a form on top of the page and you'll be matched with a qualified provider who can help you out.
Posted on November 9, 2009 at 7:24 pm
Get educated, Read books read this forum up and down. The informatio posted is great and you are talking to real people. Not someone that is getting a commission for the advice giving you.
Budget is key, you can't expend more than what you make.. and using the credit card and the checking account at the same time can get you in trouble.
Then learn about interest, how much realy cost if you are paying it. check Rule of 72
Insanity: doing the same thing over and over again and expecting different rusults Abert Einstein.
Have a system to use Money, Money is math is an Idea.
Good luck
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