Credit Card Debt

Short Description
stop carrying your credit card with you. … How can I get my Credit Card Spending Under Control? … experience, pay off your credit card balances over …

Website: clark.uwex.edu | Filesize: 261kb

Content
Credit card companies and
lending institutions offer
enticing opportunities for
people to incur debt. A
common mistake people
make is assuming that if
these agencies create
opportunity for you to have debt they must think you
are in a financial position to pay it off. It is not their
responsibility; it is ours to determine our ability to
repay debt.
Credit card companies agree to loan you money
interest free for approximately 20-28 days. You can
use this to your advantage as long as you pay off the
“loan” by the due date each month. One problem
with credit cards, however, is that they can make
spending too easy. If you are not aware of the debt
you’re incurring, you are more likely to create more
debt than you originally intended. The bill at the end
of the month is a wake-up call but it does not help at
the moment of spending.
Many people, who are used to using credit cards,
sometimes demonstrate a lack of creativity when an
unexpected financial expense
arrives. They use their credit
card to resolve the problem
incurring more debt, instead
of using the creative problem
solving strategies they apply
to…