Credit Card are common and become a fact of life today. Now today, nearly everyone has access to a credit card. Much of problem with credit card debt problem comes from changes in credit card availability, advertising and values.
Credit Card is a burgeoning problem today, there are many card holders falling into debt, facing financial problem, unable to pay debt and got into bankrupt, especially the yongest today. Causes include beliefs about future earnings, debt attitudes, financial knowledge, Spending maximum credit limit, depending on the credit card, buying things not needed, reacting to advertising, paying only the minimum and paying late.
There are some prevention method to avoid credit card debt:
~ keep the right perspective when using your credit card.
~ manage your finance to avoid unnessary expenses & having to put large amount of debt on credit card.
~ setting budget, to help you on track set goals and put motivators in place.
~ monitor credit limit.
~ use it like cash, not a credit card.
~ know the interest rate.
~ early education, teaching youngest generation all about the money before they even qualify for credit card.
~ pay the balance in full and on time.
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