Article Advise

submitted: Aug 1st 2008 | by: TinaTWiller | Total views: 1 | Word Count: 537 | |

Credit card debt and credit card usage has become habitual for many people in the west. Even though credit cards have the highest interest rates of all the debts we carry, many of us use them on a regular basis. Because of their convenience and deferred payments, today they are used much more than cash.

There are a many ways to pay off credit card debt and many people achieve this feat. Surely, to be able to pay off your credit card debt is a great achievement in itself for not everyone is able to do it. It takes a lot of discipline, restraint, planning and perseverance to finally pay off all your credit card debt.

However, there is more to paying off credit card debt then just what meets the eye. Here we are talking about the life after you pay off credit card debt successfully. As mentioned before, not everyone is able to pay off their credit card debt. Unfortunately, many people fail too.

You have followed your plan and paid off your credit card debt successfully. What do you do now to keep it paid off and not fall back into old spending habits? Remember, there is life after having credit card debt, and it will be much more enjoyable than when you had it.

First, congratulate yourself for paying off your credit card debt. Not everyone has the discipline to do this. Unfortunately, many people fail too. On the other hand, some people who were successful at paying off their debt, fail to keep this debt down. Over time some people build their credit card debt right back up.

There is much we can do within ourselves to change negative spending habits. We can develop a process for eliminating the original debt, which could take 60 to ninety days to implement. After doing the new routine for this period of time we should be acclimated to it, thus falling back into former bad habits won't be so tempting. A few easy rules to help us keep up the new routine are to:

1) If you don't need credit cards close all of them, cut them up and only pay cash. Studies show if you pay cash for everything, you spend a lot less overall period.

2) Only charge as much on your credit card that you can pay off comfortably by the grace period.

3) Use your credit cards like a 25 - 30 day interest free loan. Pay it off before just the finance charges kick in.

4) Only hold as many cards as is absolutely necessary. You should not need any more than three. Hold credit cards which give you a usable benefit, such as points for travel or other necessities.

The advice given above is from the experiences of one who has mastered the usage of credit cards. Credit cards are a wonderful tool if used properly. They can provide us with interest free loans, and offer us a lifestyle we might now otherwise afford. The problem and stress comes when we misuse them. Take the above advice seriously, and use it wisely. Join us in living your life to the fullest and having a Conscious Money Lifestyle.

About the Author

Tina T Willer, MBA gives seminars, and is the author of Articles and E-books on Personal Finance and more. Her financial advice has aided hundreds of people, in becoming more financially fit. Claim your FREE newsletter on Budgeting, Increasing Your Credit Score, Mortgage & Debt Acceleration & more HERE.

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