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Are You A Credit Card Addict? |
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Do you often use your credit cards for impulsive shopping? If yes, then you are under the danger of getting hit by a huge wave of debt accumulation. If used in an emergency, credit cards can be a blessing to the person who needs quick money. But when used daintily, they can ruin your finances and drown you in an ocean of debts. Are you a habitual user of credit cards at every single purchase, including meals and clothes, or other such items, where you can easily pay in cash? In such a case, the only way to prevent a financial catastrophe is to change your spending habits soon. But how? The best way is to find out the triggering force behind reckless shopping. Usually, people go on a shopping spree when sinking into bouts of depression. If you are one of those, leave your credit cards at home. OK, so you aren't one of those who casually thrust your credit cards into the hands of the store cashier. But certain unavoidable circumstances had led you to have a frivolous use of your credit cards, and now you are in a financial mess. But are you still using those credit cards? Don't. Tough situations demand tough choices. Tear them up, burn them, throw them in lock and key, do whatever comes to your mind; but don't use them. Not so easy, is it? But then remind yourself of the financial muddle these credit cards have got you into. Once you accomplish this feat, just call the respective credit cards companies to close those accounts. Keep one credit card strictly for emergency. Although you'll have to pay off the balances of your discarded credit cards, but at least you won't be able to use them anymore. At last, you can breathe a sigh of relief! You no longer have a pile of credit cards urging you to spend. Finally, you have abandoned the use of credit cards, but are missing them intensely! If you're still longing for your precious credit cards, it means you don't know about debit cards. Debit cards provide as many of the good things that credit cards provide, but prevent you from falling into a trench of debts. The chief difference between debit and credit cards is that the former draw funds directly from your bank account to make a prompt payment for your purchases, while the latter add to your balance to repay later. With debit cards, you don't risk overspending. This is because debit cards work like checks. No money in your account, no purchase. You can have your debit cards from several large card issuers. Debit cards are safe, as they prevent you from straying away beyond your financial boundaries. With debit cards, you enjoy the same convenience and portability of credit cards, and live within your means. The only pitfall is that using debit cards will not help in building your damaged credit history, but that doesn't matter. The passage of time will heal your credit injuries. One more alternative to credit cards is smart card. They are like an "electronic purse" embodying in it health insurance records, drivers license, passport details, phone cards, along with your payment records. Smart cards are three-in-one cards. They act as a bankcard, a credit card, and a checkbook. Smart cards are smart! With two marvelous alternatives to credit cards, you can't help but ditch your credit cards for the better. And it's good that you do it soon, if you don't want the financial worry get to your nerves. |
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