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How to Avoid High Credit Card Debt

IN NEW YORK AND PARIS. HE WAS RESPECTED, ADMIRED AND ACCLAIMED AT SCA” D. WE HAVE A BRAND NEW “ASK ASA” FOR YOU THIS MORNING… AND TODAY… ASA TALKS ABOUT CREDIT CARD DEBT. HE MAY BE SO HARD TO MAKE ENDS MEET WHEN YOUR INCOME DROPS…BUT CLI.MB SPENDING OUR ASA CONSUMER JOURNALIST AARONS SMITH EXPLAINS IN…WHY CREDIT CARDS…ARE A *RISKY WAY TO CLOSE THE GAP.BTDE IS UNIVERSAL. WE ALL KNOW IT. WE ALL HAVE IT, AND WE UNDERSTAND IT. BUT CREDIT EXPERTS SAY IT IS IMPORTANT TO CONTROL OUR DEBT – RATHER THAN LET OUR DEBT CONTROL US. RICHARD REEVE, COUNSELING SERVICE IN SAVANNAH AREA CONSUMER CREDIT TIME OF OUR LIFE FOR THOSE BIGGER PURCHASES. THE PROBLEM, AND WHEN CREDIT AND DEBT BECOMES A PROBLEM, IS WHEN WE USE IT TO SUPPLEMENT OUR INCOME.” A CREDIT CARD TO MAKE PAYMENTS ON ANOTHER RICHARD REEVE, CONSUMER CREDIT COUNSELING SEICRVE OF THE SAVANNAH AREA “ONE OF THE WORST THINGS WE CAN DOS I USE BORROWED MONEY TO PAY BACK BORROWED MONEY WHICH KEEPS THIS CYCLE KEEPING UP AND THE ON-GOING DEBT TRAP” G. TO BREAKING THE CYCLE, YOU MUST REDEFINE YOUR RELATIONSHIP WITH YOUR MONEY. YOU NEED TO UNDERSTAND WHAT YOU EARN AND WHAT YOU SPEND – AND REALISTICLY DECIDE WHERE YOU CAN SAVE TO BALANCE YOUR BUDGET WITHOUT RELYING ON CREDIT CARDS. OT( S FUL RICL)HARD REEVE, SAVANNAH AREA CONSUMER CREDIT COUNSELING SERVICE “WRITE YOUR MONTHLY INCOME ON URYO’S MONTHLY EXPENSES. AND THE GOAL IS TO HAVE THAT BECAUSE MORE THAN THOSE EXPENSES” S REEVE KNOWS SOME THINGS THAT ARE NOT EASY TO CUT – HOUSING, UTILITIES, TRANSPORTATION, INSURANCE. OTHER THINGS – FOOD, CLOTHING, ENTERTAINMENT – GIVE YOU MORE FLEXIBILITY. LI (FULL SOT) RICHARD REEVE, SAVANNAH AREA CONSUMER CREDIT COUNSELING SERVICE THERE ARE ONLY TWO THINGS WE CAN DO: EARN MORE INCOME AND REDUCE OUR EXPENSES.” REEVE LIKES THE IDEA OF TRACKING ALL YOUR HOUSEHOLD EXPENSES, EVEN FOR A FEW WEEKS.

Ask Asa: How to Avoid High Credit Card Debt

It’s not easy to make ends meet when incomes go down and expenses go up. But consumer journalist Asa Aarons Smith says credit cards are a risky way to bridge the gap.

Debt is universal. We all know that. We all have it and we understand it. But credit experts say it’s important to control our debt rather than let our debt control us. “It absolutely makes sense to use credit at certain times in our lives for those larger purchases. The problem, and where credit and debt become problems, is when we use it to supplement our income,” said Richard Reeve. , Savannah Area Consumer Credit Counseling Service. It’s a problem when we use credit as a crutch to get by month after month, especially when we use one credit card to make payments on another. “One of the worst things we can do is use borrowed money to pay back borrowed money, which keeps this cycle and this debt trap going,” Reeve said. To break the cycle, you have to redefine your relationship to your money. You need to understand what you earn and what you spend — and realistically decide where you can save to balance your budget without resorting to credit cards.” Write down your monthly income in your monthly expenses. And the goal is to have that income exceed those expenses,” Reeve suggested. “When it comes to balancing the budget, that’s not the most exciting thing to say, but there’s There are only two things we can do: generate more income and reduce our expenses,” Reeve said. Reeve likes the idea of ​​tracking your entire household. Every time you buy a pack of gum or pay a bill, write it down – that way you’ll know where every penny is going and have the information you need to cut some of your expenses.

Debt is universal. We all know that. We all have it and we understand it. But credit experts say it’s important to control our debt rather than let our debt control us.

“It absolutely makes sense to use credit at certain times in our lives for those larger purchases. The problem, and where credit and debt become problems, is when we use it to supplement our income,” said Richard Reeve. , Consumer credit advice service in the Savannah region.

It’s a problem when we use credit as a crutch to get by month after month, especially when we use one credit card to make payments on another. “One of the worst things we can do is use borrowed money to pay back borrowed money, which keeps this cycle and the debt trap going,” Reeve said.

To break the cycle, you need to redefine your relationship with your money. You need to understand what you earn and what you spend – and realistically decide where you can save to balance your budget without resorting to credit cards.

“Write down your monthly income in your monthly expenses. And the goal is to have that income greater than those expenses,” Reeve suggested.

Reeve knows some things aren’t easy to cut – housing, utilities, transportation, insurance. Other things – food, clothing, entertainment – give you more flexibility.

“When it comes to balancing the budget, that’s not the most exciting thing to say, but there are only two things we can do: generate more revenue and reduce our expenses,” said said Reeve.

Reeve likes the idea of ​​tracking all of your household expenses, even for a few weeks. Every time you buy a pack of chewing gum or pay a bill, write it down. So you’ll know where every penny is going and have the information you need to cut some of your expenses.