How can you prevent yourself from falling back into credit card debt?

On Behalf of | Nov 11, 2022 | Credit Cards, Debt

Credit card debt is a problem that plagues many. It is all too easy to fall into habits that lend themselves to getting into credit card debt in the first place.

Thus, it is important to tackle these habits first and build new ones in order to succeed at staying out of debt in the future.

Changing how you view credit cards

CNBC takes a look at credit card debt and how to avoid it. First, a person should change how they view credit cards. Many view it as a way to borrow money that is not theirs, which they will then pay back later. Instead, try treating a credit card more like a debit card. A person should only spend what they already have and know that they can pay it back.

Reorganizing budgets

Next, reorganize personal budgets and budgeting systems. Because so many people view credit cards as a borrowing tool, it is easy to begin seeing expensive purchases as “doable”, via payments spread out over a period of months. When a person no longer views their credit card as a way to borrow money, this also cuts into their ability to pay off large amounts over a period of time and reduces the expenses they can afford.

Using cash when possible

Third, try to use cash where possible instead of a card. It is easier to feel the impact of money spent when it is physical. Numbers on a card do not hold as much weight for people, mentally speaking, making it harder to curb unnecessary spending.

Finally, make a habit of paying off a card’s balance in full and on time. This helps a person stick with their new view of credit cards and avoid having to pay big amounts in interest.


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