Sometimes I get really frustrated when I don’t think about money until it is. I will start small but be carried down by huge debts. I can’t stand to be in those terrifying financial situations. In fact, I cringe when I hear the dreaded word ‘debt’ as soon as I get out of a bus.
I don’t want that horrible thing to happen to me again. I do however want my debt to disappear. I want credit and freedom.
Debt Free’s Advice:
* Never get a personal loan. Many people default on any loan you have because they don’t know they will have to pay back their debt after a period of time. This will only increase your debt exponentially.
* Debtors need to separate their personal loans and loans. You should only borrow money for an emergency only. A safe deposit box is not a security.
* Avoid payday loans. These are those loans you won’t get if you don’t have the money for them.
* Not using your credit card and checking your balance daily. This leads to you getting into regular debt.
* Avoid looking for a debt-free credit card. The easiest way to get out of those dreaded huge payments is to use a check-paying ATM. But most of the companies do not permit these transactions. The only way to get out of high-risk debt is to make them less expensive.
Tips on Choosing and Using a Credit Card:
* Do not use each credit card even once. This will quickly add up and lead you to keep using the same cards for the next several months. And remember, never get rid of one card or the other without incurring enormous debt-costs.
* Keep your monthly statements at least twice a year. That will save you lots of trouble, especially if you do not have written receipts. Not photocopying will help you ensure you have kept receipts, too. When you get to a situation where you must print out the statement, use a file cut tool to shred it.
* Do not raise your credit card limits. The problem with limits is that they are not linked to any sort of income. Hence you are essentially raising your limit. This is where a credit card getting a lot of attention is.’Credit cards’ limit is the key.’ ‘
* Remember that you can do unauthorized charges. If a person wishes to be reimbursed for the contents of your credit report, be sure that the agency reimburses you
* Do not pay off your credit card bill before the due date. This is the time when borrowing money is unnecessary and you must simply pay the balance off.
* Do not ask for a check or a phone from your bank that you don’t have the money. In addition, most of the companies ask you for one that requires both proof that you don’t have funds and one that matches the bill contents.
* Consider setting up debt-consolidation programs. These may reduce your total debt at the same time creating debt-Freeze clauses. These will allow you to be totally totally free from high-risk debt, so long as you have a budget and keep all payments on time.
* Avoid the temptation of gambling with your credit cards. Even though you can’t always be absolutely 100% 100% free from interest, you can end up paying interest, so don’t fall victim to that as well.
* Consider getting your own credit card. The options are basically limitless. One you can get for a penny at the internet is some great savings. If you have some interest available on it, add it onto that and you can build a savings of hundreds or perhaps thousands of dollars in your lifetime.
Here’s what’s really fun about using the internet is not that you can try to spend more than you really can afford but that you can browse and shop, which is rather exciting for a lot of people.
Finding the Best College Credit Card
There are loads of great college credit card offers available from many financial institutions and they offer a plethora of cards with a wide choice of features and most of them have great introductory offer designed with students in mind. There are loads of different college credit cards out there offering great features such as 0% interest rates; no annual fees up to a year; low introductory APR and rewards programs for the frequent flyers, drivers, students and alumni. They do offer various secured and unsecured student credit cards but these cards are more for the student credit card collector for the high interest and penalties.
Some great college credit card offers have their own introductory offer and they are usually specific for the students only.