I’ve always tried to follow a simple rule about money management. Avoid debt like the plague. Seriously, I abhor it. I’ve seen what it did to my mother and father and I absolutely hate it. I understand that it is sometimes a necessary evil. However, credit cards are really risky if you don’t know how to manage them correctly. Take a look at this website that teaches about credit cards.
It’s a pretty straightforward site that is packed full of information. In fact, I’d almost say that there is too much information on the site. I’ve got a large screen and I had to scroll a full 10 screens to get to the end of all the information they had on credit cards. Since I’m a technology guy, there is some layout things that could be done to improve the page. However, the information on that site is good. The most important thing it said was to look at your credit card as a high interest loan. That’s exactly what it is. Why do you think credit card companies can afford to send you thousands of letters trying to get you to sign up for a credit card? Easy, they are making stacks of money from the high interest rates.
My best advice to you is to Pay Off Your Credit Cards ASAP and Avoid Debt like the PLAGUE!!
Once you do this, you’ll feel so much better. Not to mention, without debt you might actually have some savings. With savings you can start looking at various Banking Investment Services that will actually start paying you interest as opposed to having to pay interest. That’s an awesome feeling when your money starts working for you rather than your credit eating at you. It will be one of the best days of your life.