You don’t have to look very far to find someone who has gotten into trouble with credit cards. Heck, most of us can look in the mirror and find someone who has at least occasionally misused his plastic. Regardless of what people tell you, though, neither the credit card companies nor the little shiny plastic cards themselves are the problem. With a little common sense and some credit card comparison, you can keep your debt under control without rushing to the drawer for a pair of scissors.
Now, if you’re a compulsive person and your debt is out of control, don’t let us stop you. By all means, cut up your cards. If you don’t, someone else will soon enough. Fortunately, though we may occasionally get out of hand with credit cards, most of us aren’t that desperate.
If you find your credit card bills are starting to creep up a bit higher than your comfort zone, here are some things you can do to dial things back a bit:
- Credit card comparison. When we think of credit cards, we think of shopping, not shopping around. But if you can find a better interest rate (or better yet, a zero transfer rate), you can save yourself a bundle on credit card payments.
- Limit yourself to one or two cards. Let’s face it, having a dozen cards at your fingertips is way to much temptation for the average person to handle without going nuts and shopping ‘til they drop. Unless you have extraordinary self control, two credit cards is plenty for you.
- Be accountable. One of the biggest things that get people into trouble financially is feeling like they don’t need to answer to anyone. If you’re married, make sure your spouse knows what you’re spending. Otherwise, bring in someone who is financially wise and can help you keep your spending in line and have them help hold you accountable.
- Keep receipts. Often simply going over the receipts at the end of the day every day is enough to keep you cognizant of how much you are spending, which can help you from getting carried away with your credit cards.
If you find that you’ve done all these things and still have trouble managing your credit cards, consider seeing a credit counselor. Many credit counseling services are offered free, and even the ones which charge a fee are generally fairly reasonable.