Tips
For Managing Your Plastic
by Barak
Strickland, Personal Financial Coach
As it becomes
possible to pay for more and more everyday goods and
services with plastic - whether with a bank debit card
or a personal credit card - keeping track of expenses
can become tricky.
Among the tips I suggest are:
Instead of using plastic, give yourself an allowance -
in cash - and stick to it.
If
you have to use plastic, try using only a bank debit
card which should limit your spending to your bank
account balance.
If
you must use a credit card, limit it's usage to
necessities and pay the bill in full when it is due. If
you have to carry a balance make sure you carry it on
the credit card with the lowest interest rate.
Know your charges and credit limits. Charges and monthly
payments should not be a surprise when the bill arrives.
Make sure you are charging only what you can afford.
Consider a consolidation loan. Paying off multiple
credit card bills with a single, lower interest rate
loan can reduce your monthly payments. But, be careful
that you don't just extend your payments over more time,
and thereby increase your total cost of borrowing.
Keep at it. Changing financial habits requires time,
patience, and discipline, but the rewards are well worth
it, especially financial peace of mind!
About The Author:
Learn proven strategies to improve your
personal financial situation from Barak Strickland,
Personal Financial Coach. Email him at mailto:Barak@strategies-unlimited.com
or visit his web site at
http://www.strategies-unlimited.com
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$17.95/Pack of 24
