Hello Everyone! Today’s topic is important. Because we could all use a healthy habit. In budgeting your money. It’s really not good to be in credit card debt. And knowing how to stop making purchases, with your credit card. And budget your money. Into healthier habits. Is beneficial. So here are my tips in saving your money. For better things.
- Set your goals of what you will achieve, while becoming debt free. Like, I want to travel outside of the country. Or, having the burden of debt off your shoulders.
- Make a budget list. Of how your going to pay the balances off. Where are you getting your main source of income? And make wise decisions in paying your balances.
- Take your credit cards out of your wallet. Leave it at home. So you won’t use it while your out.
- Next time you see something online that looks cute. Say I’m trying to lose weight. So I wouldn’t know what size to get. It would be a waste of money. To buy clothing if it won’t fit.
- Pay off your highest interest rate cards off first.
- You do not have to use your coupons in emails. Even if it is a good deal, refrain from buying. If you don’t spend. The less debt you will have. Instead, move these emails to trash immediately.
- Monitor your credit scores. I know this topic makes people unhappy. But is helpful to know other people have it way worse than you. If you continue to pay off balances on time every month. Your credit score will improve. Also as you build your credit. It will make things organised.
- Quit your bad habits. Like, smoking, drinking alcohol, or junk food. Not only will you become debt free. You’ll be healthier too.
- Do not apply for another credit card. Having too many cards than you actually need or earn. Will not be good.
- Do not get a balance increase. It just makes you sink deeper in the hole. Thinking you have more credit. And before you know it. You spend it. Making the debt deeper.
- Sometimes the length of time you have your cards open. Makes your score improve. The longer you have credit cards, in good standing, should make your credit score improve.
- Do not get a loan. Because you must have good credit, to avoid a higher interest rate. And you probably don’t have a good enough credit score. To get a low-interest rate loan. Other wise, you’ll sink even deeper in the hole.
I hope I gave meaningful advice. In saving money, and becoming debt free. Take Care, until next time!