As we march head long into the new millennium it would seem that
a Credit Card is an essential accessory of modern life.
There are not many places on our planet where you can't use the
'fantastic plastic' for purchases large and small. In this
phenomenon (the vastness of the credit card network) lies the
ambush of the credit epidemic.
Unfortunately for some of us we are unable to control the use of
our credit cards and we fall into the downward spiral of ever
deepening debt. The fact that financial institutions freely
issue credit cards to those whom they almost certainly realize
do not have the capacity to control their spending or the means
to repay the limits of their credit is irresponsible on their
part.
Of course on the other hand there are millions of responsible
users of credit. For many people a credit card is a means by
which they can deal with their current situation, thereby
allowing them to take control of their finances. By this means
then, they can successfully manage to climb out of the slippery
hole of debt and maintain control of their spending.
The responsible use of credit cards involves us being in control
of our lives. For many 'retail therapy' is an escape from the
reality of what is actually happening in their day to day
circumstances. To be a responsible Credit Card user there are
several things we must consider:
1. Never spend more than we can really afford! It seems fairly
obvious to the thinking person, however the temptation is always
lurking there to use our Credit Cards for things we think we
can't do without.
2. If we do need to use our Credit Card for large ticket items
then do not use them again until we have completely eliminated
the negative balance from that Card.
3. Ideally each month pay the entire balance outstanding, and at
the very least pay more than the minimum payment amount (and
hopefully do not spend any more until our Credit Card is again
debt free).
4. If we are using our Credit Card for everything i.e groceries,
utility bills, daily expenses etc as a means of tracking our
expenditure then set up an automatic payment system with our
bank so that the balance is paid out each month within the
interest free timeframe.
5. When we are going browsing - don't take our card so that we
aren't tempted to spend on unnecessary items. Our wallets can
actually get along without our Credit Card (can we?).
6. If all else fails - freeze your Credit! Yes literally fill a
large container with water, place your Credit Card in a sealable
plastic bag and suspend it in the water, now place the container
in the bottom of your freezer and leave in place until
completely frozen. At the very least this will make you have
some "thinking time" before you are able to use your card.
Credit Cards are a good thing when used wisely. If we find
ourselves in debt over our heads seek professional help. It is
not a sign of weakness to ask for assistance in managing our
finances, in fact it is quite the opposite. Many people have
discovered release from crippling debt by taking the step and
finding someone who will help them.
About the author:
About the Author
Lisa R Johnson is co-owner of
http://www.getfastcredit
cards.com, a website where American citizens can view and
compare countless credit card offers, and can also then apply
online immediately for credit cards.
