Tips to Prevent Debts on your Credit Card

The more cash you make, the more you can reconstruct your credit card debt. Thus, it is important to always keep attention to improving your current income. Constantly seek for opportunities to pick up projects with higher commissions or be willing to take over time or things that could result to a bonus. When you are in bad credit score, it helps to take your job seriously and maintain a high level of work enthusiasm. Along with the idea of creating additional sources of income, you must also adhere to the following 5 manageable ways to prevent credit card debts.

  1. Set funds for emergency uses. While you give focus to paying your credit card loans, don’t ignore the idea of keeping a fraction of your income for emergency purposes. If something urgent comes along like medical expenses or travel abroad, it would be hard for you this time to end your credit card debt. So don’t fail to stash away little amount in your emergency fund and make it a habit to only claim the money for emergencies and nothing more.

emergency use

  1. Pay your credit card bills on time. This will help you avoid fees that could add up to your monthly spending. Organize your budget and search for other options where you can save on fees. Avoid offers that have interest rates as much as possible but if you bump into one, make sure that you can keep up with the repayment rules. For instance, if you book plane tickets online, there will be web admin fees which will add up to the total price. As a saving alternative, why not go to the ticketing office near your area to avoid the fees? It might be a bit inconvenient but there are things you need to sacrifice for a while in exchange to a debt-free you.
  1. Utilize balance transfers. Phone each of your credit card companies for your request to lower your interest rate on your balance transfer. This can greatly help you save much of cash. Do this to all of the credit cards you have. Consolidate your loans on card companies that provide the best rate. Take note of the “balance transfer fees” and make sure that they are manageable. Do not attempt to “close paid off” your credit cards as this can lower down your credit points.
  1. Spend time with the right people. If you attach yourself to people who keep spending and wasting money on their credit cards, then it would be difficult for you to avoid the consumerist habit. Keep a distance from those with negative influence to you even if this means avoiding your non-helpful friends. This may be hard to follow but very effective if you are really serious of terminating your high credit card debt.

spend time with right people

  1. Write down all your credit card expenses. This idea doesn’t need the use of computer but a simple paper and pen. At the end of the day, list all the payments you made through your credit cards and other recurring bills like rent, utilities and groceries and set a specific limit to each of them. If the final sum reveals that there is a shortage for paying your credit card debt, make the necessary adjustments until you get extra amount to pay your card loan.

CAI Financial has the best experts to help you manage your credit cards and Fort Mcmurray money. Look for them today at http://caifinancial.ca/fort-mcmurray.

 

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About bartsuavek

An entrepreneur, financial advisor and advocate of good living. Visit me at: Phone: 780-715-4920 Email: info@caifinancialfortmcmurray.ca Website: http://caifinancial.ca/fort-mcmurray/

Posted on November 3, 2014, in Fort Mcmurray money and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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