Its the sign of the times, people are using credit cards as a means to survive. The average household now carries an average of between $6,000 and $10,000 in consumer credit card debt. When is it past the point of no return? And what can you do to help end the credit card abuse? Here are some helpful ways to move past the credit card and back into the land of living within your means.
1. Take the Credit Cards Out of your Wallet! If you don’t have them with you, than you cant use them.
2. Make a budget and stick to it. This is hard for some, but it will save you so much money in the long run. NOLO has written an article on How to Make a Budget and Stick to it. It takes you step by step through the process of making a budget.
3. Carry cash. If you know you are going somewhere, carry only enough cash to cover that expense so that you don’t over spend.
4. Check the interest on the credit cards. When you see how much is going towards interest every month its going to help you stop spending.
5. Contact the creditor and explain your situation to them, together you can work on a plan so that obligations are repaid. They would rather have you pay them back then default on the loan and stop paying your bill.
What will it take to pay off your credit cards? Check out this credit card calculator from Bankrate.com.