Dont Fall Back on your Credit Cards

By: Martin Lukac

When it comes to credit cards, they aren't for the basics in life. There are times when you cannot avoid going into debt. People lose their jobs. You may have unexpected bills or an illness in your family. These are situations in which you must balance the pros and cons of using your available credit.

However, for everyone else out there, debt is not a recognizable solution to your problems. Many Americans are simply using their credit cards to pay for their basics. They aren't going into debt to survive, they no longer know how to survive without going into debt.

If you are using your credit cards to buy your food and pay your bills, you are just flirting with disaster. Think of it this way -- you may be lightening your load this month, but you are hefting it onto next month. Paying with a credit card just creates more bills to pay.

You should never have to fall back on your credit card to purchase groceries or pay your bills. There are many alternatives to doing this. You can apply for food stamps or go to a food bank. You can simply eat more frugally -- cut out the dining out and the convenience food. Reassess the way you spend your money.

You need to cut back on what you are spending. I'm not kidding you when I say that you are going to have to eventually. You might as well start now and save yourself some money. Learn how to budget and how to spend less.

I know that it doesn't sound like fun -- not getting what you want when you want it. But it is well worth it. If you are able to cut back now and work towards eliminating that credit card debt, you will see amazing things happen. You will have more money to spend. Your entire paycheck won't be spent the minute you receive it. You will be able to save and plan for the things you really want.

Using your credit card as a safety net is not smart. Instead, you need to put money into an emergency fund. Emergency funds will help cushion your monthly budget while helping you avoid going into debt. When your car breaks down or you change jobs, you won't have to worry about making ends meet right away. You use the emergency fund to take care of business.

By doing so, you save yourself thousands of dollars in interest payments to your credit card company. Stop using your credit cards on a daily basis. If you keep charging, where will you turn when a real emergency actually comes along? If you have no more credit, you will be in real trouble. Save your credit for when you will really need it.

Take steps to stop spending and pay off your credit card debt. It is essential to your financial future. Remember, when you buy $100 worth of groceries on your credit card, it is the same as spending $1,000. Don't let credit cards spend your money before you make it.

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