Just take a walk around the mall to see that the windows bring promotions with incredible discounts and sales beyond interesting. When it comes to paying, forms of payment are even more tempting. Loss of sight, checks and the practical Installment on the credit card.
It turns out that even with so many facilities, you have to be very careful not to cross the line and end up all wrapped up in finances. And you know, accumulated debts are always synonymous with headache.
In the case of credit card debts, attention must be redoubled. A basic rule is not to commit more than 30% of your income to debt, especially from credit card. Remember that the credit card interest They are among the largest in the market and this debt grows like a snowball.
If you do not use your card for essential expenses, the first step is to recognize that you have crossed the line with credit card spending. In this case, the best tip is to learn to control your impulses and put the card aside until you can regularize your situation.
But if your case is different and you need the card to be able to meet your financial commitments of the month, the situation is a little more complicated to resolve. But calm down, there is a solution. Check out some Tips To Get Rid Of Credit Card Debts and know what to do to resolve the situation.
Always try to pay the full amount of the credit card bill. If you pay only the minimum, the rest is charged with a fine and interest. Choose an invoice due date that coincides with the period when your account will have money. For example, one day or one week after receiving the salary.
Set up a strategy to pay off the full invoice. For this, the first step is to adapt your spending to your reality. Make an analysis of everything you earn all you spend. List your monthly credit card spend, you can do this by setting up a personal budget spreadsheet that is unique for this purpose.
It's important to know where every penny of your money goes and then decide what can be kept and what should be cut or replaced at least while your invoices are still late.
Then, contact your account manager to renegotiate credit card debt according to your possibilities. By keeping your spend spreadsheet up to date, you can keep track of your spend and channel efforts to settle backlogs as quickly as possible.
O credit card limit It is just a loan that, when used, needs to be repaid. So do not spend the full limit offered by the bank and when you are about to make a purchase, remember that it will contribute to the invoice value growing and your problem increasing. It is also worth lowering the card limit and if you realize that the amount of the bill is too high and with your salary will not be able to cover, take personal loan In the bank to pay off debt can be a good option. Usually the cards are lower than those on the card.
How to get rid of credit card debt FAST (January 2021)
- Career & Finance