Are you consumed with worry over your credit card debt?
If you answered yes to the above, like most of us today, you aren’t alone. But it is bad for your health so you do need to do something about repairing your credit payments before the situation gets worse. And if you don’t do something about it soon, then the chances are increased that you could well become ill.
Bad health from stress and worry is now a recognized result of debt worry. If you became ill, who would be there to pay your debts for you? Could your family survive and still keep up to date with any credit card bills that come in each month?
The best idea is to recognize and admit when you start to see a problem arising. Don’t hide it from your family and don’t ignore that repayments are starting to become a problem. Contact, in writing, your financial institution and see if you can renegotiate your repayments.
The next thing to do is to leave the credit cards at home when you go out so that you don’t add any more credit debt to an already overloaded repayment program.
If you simply and absolutely can’t do without something, like electricity, then you will have to put it on your card (if you can). But if the need for something is not as urgent as that, forget that the card even exists. That will save you money.
Work out a budget and stick to it. Use cash and not a credit card. Cash is still King.
If you don’t know what needs to be included in your budget, have a look through the charges on your credit card. You are bound to see many small payment on there that you should have paid for using cash. If you don’t carry cash on you for these small payments of non-essentials usually, then perhaps a life-style change will be a good idea before you are forced to make a change much bigger than one you and your family, can live with.