New York residents like you do not want to fall back into debt once you start making your way out of it. Of course, this is often a difficult task, especially if you have years of bad financial habits built up.
One of the most crucial parts of success in fighting debt is building new, better habits as soon as possible. In particular, you can start by changing how you use and view your credit card.
Change how you view your cards
The Balance discusses ways you can avoid credit card debt. The first involves changing how you view it. Many people, likely including yourself, view credit cards as a way to borrow money and pay it back later. Instead, try to treat your credit card like your debit card. Do not buy anything that you do not have immediate funds to pay back.
Always make payments on time. Late fees stack up fast and ruin your credit card score at the same time. You could end up paying more in interest over time, too. It is easy for late fees to snowball and this might lead to you trying to make ends meet by using credit cards. It is a dangerous cycle.
Keep tabs on your balance
Related to that, pay your entire balance each month. This should not be hard if you follow tip one and treat it like a debit card. This keeps your interest down, your credit score high and eliminates the risk of credit card debt entirely.
Finally, limit the number of credit cards you own. It is easier to fall into debt with more credit cards. It is also harder to keep track of money and bills. Generally speaking, no one needs more than two. If you have more, you may want to trim your count down.
