How To STAY Out of Credit Card Debt!

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https://www.youtube.com/embed/JEjtnYNbPWM hi men so you view my video on how to leave charge card debt youve followed all the steps you did all the effort and you learnt your lesson and you are now credit card financial obligation complimentary I am so proud of you I wager you feel great I wager you feel better I bet you feel more in control of your financial resources and I wager you feel freer when it pertains to making that final payment on your charge card life gets amazing because when you are debt-free this means that if you wish to you can proceed to accomplishing more meaningful and satisfying monetary objectives more chances and tools exist within you to advance your monetary situation to develop more monetary security to create a much better monetary future and possibly just offer you more choice and time and who doesnt desire that and now that youre out of charge card financial obligation and youve done all the effort I hate to be the bearer of bad news but it also takes a lot of work to avoid of credit card financial obligation you have come up until now and the last thing you desire to do is repeat history and sabotage all your tough work by returning into financial obligation again you require to dedicate to the journey of remaining out of credit card financial obligation so this video that Ive produced you is how to stay out of credit card debt for excellent so my very first recommendation is to ask yourself honestly do you really require a charge card does having a charge card include value to your situation Im not stating that credit cards are bad there are some amazing credit cards out there with amazing rewards programs things like frequent flyer programs discounts on car leasings complimentary travel insurance but if you discover that having a charge card is producing more trouble than excellent you may be much better off simply simplifying your financial resources and not actually having a credit card in the very first location you need to be honest with yourself and ask yourself if you have that self-discipline to avoid of credit card financial obligation if your answer is no do not make yourself accessible to debt and if your answer is yes because you simply require a charge card for emergencies thats not truly the very best response because really you need to have money cost savings for emergency situations my second suggestion if you need to keep your credit card out of your wallet now I know individuals that in fact keep their credit cards frozen in blocks of ice in their freezer and I know this sounds definitely crazy but it works for them since it keeps them on the straight and narrow and by theyre not having their credit cards in their wallet when temptation occurs which it constantly does because of social networks advertising and marketing that we are continuously exposed to when because urge strikes them if they dont have that credit card they cant use it so if they actually desire that specific product they need to spend for it in cash or with their debit card you use cash as in physical money or a debit card you tend to be a lot more present and in the minute youre really questioning the worth and the exchange so you understand in handing over those notes what youre actually buying it is it really worth it and also seeing your savings stopped by that particular quantity of money once again are you prepared to see your savings drop for that particular item if the response is yes clearly the exchange continues however if you do not youll realize and stop and you will not be drawing in junk and crap in your life that you simply do not require and the temptation will pass my third recommendation is have a low limit on your card that indicates if you do enter into difficulty at least its quarantined to a percentage and its simpler and quicker to pay off if you discover this taking place repeatedly you need to have an appearance at your budget plan and work out where your moneys going and if you are earning as much as your lifestyle needs and you might need to bid farewell to charge card for great or just for a little while my 4th recommendation which i believe is probably my most useful suggestion in this video is examine your credit card transactions routinely do not wait up until completion of the month when you get your charge card declaration due to the fact that when the declaration shows up during the month we easily forget about all those little purchases and things that we bought and purchased online and put on our card and after that we get a little bit of a rude shock when it comes at the end of the month and initially you believe honor that cant be right how does this all build up you may even believe oh there may even be some deceitful inaccurate charges to my card but as you go through a transaction go oh thats ideal I did buy that oh yes I did order that yes we do go to that restaurant you realize how little things quickly accumulate you examine your transactions on a regular basis and when I say routine I attempt and do this every day or every number of days a minimum of I can see exactly where my cashs going I can budget plan for the rest of the month if I capture myself having expensive a week I know that ease off for the rest of the month Im a lot more in control I understand where my cashs going and I do not get in charge card financial obligation 5th suggestion which is most likely among the most obvious suggestions is pay your charge card in full monthly do not lose valuable money on paying interest that money could be used for numerous better things it might be utilized for developing up cost savings it might be utilized for paying for other financial obligation like your house loan it could be utilized for investing it might be used to assist bring your retirement faster your money and its being lost by offering it to the bank due to the fact that youre not being responsible with your money modification this routine my sixth suggestion and this is not simply restricted to this particular video however have a spending plan now if you have a budget youll know exactly just how much you earn and precisely just how much it costs to live and the cost of your way of life and when you comprehend your living costs youll make much better decisions and the manner in which you utilize money and when you use your charge card my seventh recommendation and this is most likely among my favorite suggestions is transfer cash so say for example you go to a shop and you buy a brand-new clothing and state the clothing costs $300 when you are paying for that and youre putting on your charge card because you understand that you utilize your charge card responsibly ensure you transfer $300 to your credit card to pay for that deal in full that will imply that you are constantly debt complimentary you are still getting the advantages of your charge card my last recommendation is comprehend the fees and charges that come with your credit card some credit cards have an extremely high yearly charge and that charge can immediately put you back at a loss even if youre being responsible with your card so by knowing what the fees are knowing what the rates of interest charges you can prepare and prepare your money circulation and make sure that you are always out of the red in debt complimentary isnt about living a mean stingy life with cash or denying yourself any luxuries its actually about appreciating and understanding your financial scenario and where you desire to go you will recognize the prospective exciting opportunity that exists within you to develop a better monetary future for yourself a financial future thats gon na give you a lot more choice a lot more versatility and a lot more time who doesnt want that you want to remain out of charge card financial obligation for excellent ensure you use this as a chance to your advantage use your newfound healthy monetary practices and direct them into accomplishing bigger and much better objectives for yourself whether that be building up a cost savings account whether that be investing or whether that be towards your retirement planning so that you can bring on your retirement date sooner or with more cash it doesnt matter the option is yours so thats it for this video I will see you later in the week for way of life love and if you have not currently please make sure you subscribe I constantly appreciate your feedback and if youre interested you can follow me on instagram at sugar mom TELEVISION and you can like us on facebook or you can head to the main sugar mother website for additional information I will see in a few days ciao for now bye Read More: How I Paid off $34,000 in Student Debt My First Year of Medical School

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