Are your Credit Cards Taking Over your Life?
If you’ve ever used your credit cards to pay your monthly bills, you know how stressful that can be. It’s worse when you become dependent on them each month to survive. What you may not be thinking about is the more you use the card, the higher the monthly payment will be, but what’s worse is when you get to a certain point, the credit card company will either lower your limit or they’ll tell you, the card can’t be used.
Another thing that may cause a problem is if you max your card out and the interest puts you over the limit. You’ll receive over the limit fees and your payment will increase to accommodate those fees. If this happens, the stress is going to go through the roof and you may find you feel like you’re losing it all. If you’re a work at home mom and you depend on the income you make from your business to keep you at home, this can be devastating.
While coming out of this may be really difficult and you may feel it’s nearly impossible, just remember, there is a light at the end of the tunnel. With a little hard work, dedication, and the control to not make purchases, you can turn this around and have the money you need. You may need to be creative in finding ways to make this happen through your business, but it is possible when you look at the big picture and you consider everything.
Last year one of my authors wrote an article about paying cash for your purchases. She talks about the Minimum Payment Warning and how long it will take you to pay off a credit card when you only pay the minimum due each month. Click here to see what she discovered and how she was going to handle things so she could purchase a new dishwasher.
This author knows how hard it will be, but when that monthly minimum payment number goes down and she begins to see the balance go down as well, she’ll be jumping up and down for joy because she won’t be paying large amounts of interest and her family will be able to do things they want to do. She won’t have to worry if her vehicle breaks down and she won’t have to worry if she’s going to have enough money for groceries.
