I have told you about my credit card woes. It should be a good example to you not to be impulsive when it comes to swiping that card. When you use it, try not to use your credit card again until you pay what you purchased first. That way, you are limiting your acquisitions to what you can actually afford. Avoid bringing it with you all the time. It is a big temptation sitting in your wallet waiting for you to buy that item you actually don’t need right now.
Also, limit your credit cards to only one if you can. No need to be maintaining two to three or more credit cards when you know you will just use it to bury yourself in debts. If you have the discipline or you can afford to pay all cards in one fell swoop, then go ahead and maintain that many cards. Otherwise, it is best to keep only one.
Credit cards can be a great backup funding when there’s a need for it. But it can also give you the biggest problem if you don’t watch out.
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