Using Prepaid Credit Cards to Control Your Debt
Controlling your debt is one of the things that should be at the top of your list of things to accomplish today. It really doesn't matter if it is the holiday season, or just another day of the year. You can control your debt by using a prepaid credit card and just a little will power. Here's how.
First, select a prepaid credit card that you want to use. There are plenty of choices out there, so compare wisely. Try to find a prepaid card that charges as little (or no) fees as possible. The less fees you have to pay, the more you will have to spend. Now the monthly fees are not extravagant; but why pay the fee if you can find a card that does not require one.
Then, check out the prepaid credit card company you have chosen to do business with, to make sure it is a company that you want to deal with.
Before obtaining the card, make sure you read the fine print; which is the terms and conditions agreement. You really need to understand what you are getting into before you obtain and start using the card.
Create a plan around the amount of money you want to spend to control your debt. With a prepaid credit card, you will only be able to spend the money you load onto the card. Couple that with your will power (just load the card with the money you budgeted to spend and no more per month) and you have created a very good instrument and method to keep your spending under control.
It is as simple as that. OK! Nothing in life is really simple, but you have the method you need to control how much (or how little) you go into debt. If your will power is low, ask your best friend(s) to help out. The idea is to spend only what you want to buy, and keep spontaneous spending to a minimum. Actually, zero spontaneous spending is best.
Lastly, to stay on top of your credit score, remember to check your credit history by obtaining an annual credit report from any one of the three major credit bureaus; or try to obtain a free credit report to keep up to date about your credit history.
Today, or during any holiday season, or at any future event; controlling what you spend gives you the power to control your debt. I say, “Take control of your financial future!” I'm pretty sure that the banks will try to help you get into as much debt as possible. After all, that is one of their biggest tools for making money off of you.
So, go shopping; but, remember to leave your credit cards at home. Instead, use a prepaid credit card (no more than two) and help change the phrase “Shop 'til you drop” to “Shop, have fun, and stop when your budget tells you too!” It's the responsible thing to do.
Also, use will power, stay in control, and budget your money. This will help you keep your debt level as low as possible.
Good Luck & Happy Shopping!
ATTENTION: No Content on this page can be copied or reprinted on any other website, blog or other. That is prohibited. This is exclusive content here in the HubPages Community. However, feel free to 'Link to this page' or 'Email this page' using the buttons found at the bottom of this page. Also feel free to bookmark this page.
If you are already a member of the HubPages community, sign-in and Share It! to obtain a link with your own URL tracker. Non-members, copy the link below before you Share It! Use this link in place of the standard one that is generated.
Link to This Article...
Thank you for readership and cooperation.
More by this Author
How would you spend a million dollars? How far do you think a million would go? Think about it. You are about to get shocked!!!
As you read through the "TERMS AND CONDITIONS" of the various prepaid credit cards, you quickly realize that there are some things that you are asked to refrain from when using the card, and other things...
Living in the Chicago area, public transportation can be a pain in my ... back! With less people riding the buses, fares are increasing, service is poor, and the schedule is a mess. It could be much better if more...