How many credit cards to you have ?
June 12, 2009 3:45pm CST
When I was 18 I thought that credita cards were the greatest thinf...free money thatyou didn't have to pay back for a long time . Then the bills starded to ppile up and I couldn't even efford to pay the minium balance on any of them . So my bills stared pilling up . Now I am 25 and only have 1 credit card to pay off .I paid most of them off by using the "snowball effect" which my mom had been doing for a while and helped me through it. Are you still in debt? If not what did you do to overcove it . If you are in debt are are you planning / hoping to over come it ?
• Hong Kong
25 Jun 09
I have around 10 credit cards and I don't have much debt in fact. My habit of using credit card is that I only use it if I know I can repay it. How can I make sure that? Well, I treat credit card as a virtual link to my saving account and whenever I spend a dollar using credit card, I will tell myself that a dollar is ALREADY deducted from my saving account. Thus, if I estimate that my saving account is approaching zero, I just won't spend a dollar more. By doing so, I have never really in debt to the banks. So, the banks can seldom charge me for extra money.