According to doctors and nutritionists, the secret to wellness is eating the right food, exercising on a regular basis and getting at least six hours of sleep. The same preventive measures taken to ensure you live longer can be applied to guarantee that you do not get into credit card debts. The first step to ensuring financial security is avoiding debts. If you would like to attain financial security, you will find the idea provided herein quite helpful.

#1: Maintain the Right Viewpoint

Majorities of the issues experienced as a result of credit card debts often stem from variations in credit card advertisements, availability as well as values which have occurred over the past 70 years. According to a study that was carried out by a well-respected financial analyst – Linda Tucker, it was discovered that credit card started becoming available to the larger population at the turn of 1960s. Presently, virtually everybody can get a credit card.

According to Howard Dvorking in, “Credit Hell: How to Dig out of Debt”, advertisement usually play a huge role when it comes to accessing credit cards. Given that the present society is mainly obsessed with trying to satisfy their current needs, more and more people are finding themselves applying for credit cards. This has been made worse by the fact that you can purchase virtually anything using your credit card.

Nevertheless, this is not the way things are supposed to be. One of the things that Howard has brought out in his book is that “You do not have to be a slave to a credit card company”. Therefore, you need to try as much as possible so as not to be enticed with the advertisement that urge you to sign for a particular credit card. It’s possible to gain control over your finances, thereby enabling you to avoid credit card debts.

#2: Handle Your Finances

You need to have a plan. A plan in this instance is having a budget that assists you in keeping track of your income and expenditure. With a proper strategy, you’ll never have the urge to use your credit card for purchases. When creating your budget, you need to determine your average monthly revenues and expenditures.

Your monthly expenditure ought to incorporate at least 10% of your revenues that go into creating an emergency fund. An emergency fund should be made up of at least 6-12 months of your total expenditure. What this means is that, if your monthly expenses amount to $2,000.00 then your emergency fund should comprise of between $12,000 and $24,000. Once you have built your emergency fund, you can proceed to build savings and starting other income generating sources.

#3: Get the Right Card

Credit cards are not bad as some people tend to make them to be. One of the reasons why credit cards have been blamed for current financial crisis is because most people do not make their payments on time. Note that, a credit card functions in building a good credit score. If you must have a credit card, make sure that it is the best one.

Author’s Bio:  Kady Babs is a Certified Professional and freelance writer. At present attached with Pass certification. This is Best Source for CompTIA Server+  ISS-001 exam. You can try free demos of all certifications with 100% Risk Free and Guaranteed success. Babs has creative writing skills and helping people to get certified on first try.  

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