photo credit: Andres Rueda
Credit cards are a modern day convenience. It makes shopping and spending more accessible and convenient. It is safer to carry compared to cash. Instead of being in control and a master over the handling of the credit cards, some people end up being a slave to them.
People forget that they are borrowing money when they used the cards. Sometimes, they borrow more than they can afford. The debts accumulate and gather interest and soon they find themselves stressed out making repayments.
Signs of a credit card slave:
• You have multiple credit cards in your purse or wallet.
• Your credit cards are at the credit limit or over.
• You are easily swayed to offers of credit top-up or to new additional cards.
• Your income is mostly used up to paying off credit card debts.
• You often find it difficult to make the minimum monthly payment on the cards.
• You are scared of opening up your mail for fear of looking at the bills.
• You freaked out when an emergency crops up requiring you to fork out money.
If you find that you fit to most of the description above, get some help. Sometimes it helps to get advice or assistance from an experienced friend or from a financial planner. An outsider may be able to see your situation more objectively and help you to make better decisions and take control over your finances. Sometimes that is all it takes to turn around a bad situation. Banging your head against the wall alone does not enable you to see the root cause of your misery. Hence, forget your pride and seek advice to get out from being a slave to credit card debts.
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