A Credit Card Is Not Your Friend

Today is a good day. I finally paid off my credit card…in full. Oh, I can’t tell you how good it feels to finally be out of debt! Well, except…you know…freakin’ Sallie Mae.

Here are a couple tips that helped me when I was trying to swim out of this black lagoon:

  1. Don’t put small purchases on your credit card We all know it’s tempting, but don’t do it!! Putting on small purchases are easier to forget than an impending big charge. The less you put on a credit card (or debit card for that matter!) the better. I have become a big believer in trying to carry cash with me, and only using cash!
  2. Swallow your fear: submit big payments If you get a paycheck for $800, and your other bills are paid, put $100 into savings and submit a BIG payment. Try to put $200-$400 for the month. The bigger, the better. You will feel like a huge weight is being lifted!
  3. Don’t swipe after you make a payment. We’ve all been there, we think that since we paid off some charges, we can continue to swipe! Our credit line is up, so why not? I’ll tell you why…because being confident about your money can be lethal. Obviously not at all times, but when you get cocky, it can be bad.
  4. Use your card for a specific thing. Whether it is for gas or food…keep it as such. Don’t go crazy using your credit card for frivolous purchases. The up side of this is that several credit cards have a special for cash back or double points for a certain thing. If it’s offered, use it. If you get double points for food and entertainment (ie: movies)…use it for just that. You can get some super fun things! (ie: points to use towards cash, gift cards, or your cc balance)

Try it, and get back to me!

 

xoxo- kate

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