Most of us have some sort of credit card debt. Here are some good ideas on how to keep your credit card balances low:
1. Dining out. Credit card debt experts warn that dining charges are one of the largest charges credit card users charge on a monthly basis. Simply cutting dining out or being a little more vigilant on the spending can go along ways. Dave Ramsey often warns about dining out. Eat the food you have at home and save!
2. Grocery shopping. Go with a written plan before hand. Also, for non perishable items such as cereal, buy the off brand and you will save. Don’t forget about weekend coupons!
3. Stop the coffee and soda purchases. This can save hundreds of dollars each year. Personally I save almost $75.00 a month by stopping soda purchases.
4. Never miss a payment. Set your mortgage and car payments on auto draft to avoid the late charges.
5. Always monitor your credit report and credit score. Ask for a lower interest rate on your card. If they do not lower it, look for a credit card that will offer a lower rate. My experience has been that people who monitor their credit reports on a monthly basis generally have higher scores.
6. See if you can qualify for Federal utility assistance.
7. Watch monthly Dave Ramsey YouTube videos or listen to his radio show. It gets you in the right frame of mind to tackle credit card debt.
If you are experiencing credit card debt, feel free to call the Stone Law Firm in any of our offices in Columbia, Florence, Irmo, or Greenville offices for a free consultation. We can see if bankruptcy options such as Chapter 7 or Chapter 13 bankruptcy could help. We can also explore non bankruptcy options for your credit card debt.