How to Get Rid of Credit Card Debts
Credit Cards are perfect little plastic cards stand for a lot of money in your wallet but BEWARE!!! Credit cards are evil.
Everybody finds him/herself depressed with a lot of credit card debts waiting to be paid. The best way to avoid plunge in to credit card debts are not using them. The most dangerous aspect of credit cards are; they seem like your friends waiting quietly in your pocket for lending you money. In spite of all the bank commercials showing credit cards as the savior of human kind credit cards can get you into a lot of trouble. Here are some tips which will keep you away from the charm of credit cards:
- Don't raise your credit card limit every time your bank lets you. The higher your limit, deeper the marsh gets. There is no point of having a credit card with 10.000$ limit while you can earn 1.500$/month. It just gives you an illusion of being rich. It doesn't make you richer.
- Credit cards lend you money. If you have a friend who walks with you every time you go shopping and suggests you lending money with high interests would you accept? Banks are not even your friends. Don't use your credit cards if you don't have to.
- Don't try to cover your credit card debts with loaning money from another source. This will only make your debt bigger. Once it starts to grow it will grow like a snow ball going down the hill.
- Don't spend money just because you can. You can live without a bigger tv or ps3 for a couple of month. Try to save money and then buy what you want. If you can't save money you probably won't save the money to pay your debts.
- Choose credit cards with low interest and low charges. The credit card interest differ for each bank. Make a research about the interest rates and costs of the credit cards before you go and get one.
- Limit yourself. Try to put some limits to your expenses with your credit card. Don't go over that limit that you have set. Setting a reasonable limit and following your own rules you won't get into much trouble.
If you have already gone in to high debts you have to pay the price. Cut down your spending and live some month in misery with the dream of burning down your credit cards. If you have already lived a bad experience you don't need any advices I guess you already got your lesson.