1.   When you subtract your bills from your income, are you looking at a negative balance?

2.   Do you need to change your spending?

3.   Have your credit cards been a major contributor to financial difficulties and stress?

4.   Is credit card spending causing poor or bad credit?

 

If the answer is yes to any of these questions, it is time make a plan to reduce your spending and debt.

 

Set Up a Budget

Now that you have identified where you spend money, you can set up a budget. Target areas where you can reduce spending. Make a commitment to stay with your budget and plan how you would handle emergency spending should this happen.

 

Review Credit Card Terms

It is important to look at the terms of the cards you currently have or may be considering. If you receive an offer in the mail, look for all the under-lying terms behind that terrific offer. Does the card give you extras that will be useful with your budget, such as points toward purchases or air miles? What is the interest rate, yearly fee, the credit limit? There are many hidden traps in credit card offers and you can avoid them.

 

 

 

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People receive credit card offers regularly in the U.S. mail and through the Internet. As the holidays approach and the marketing pressure becomes intense, the media publicizes sales and credit card opportunities increase, particularly in the department stores as you shop, or with online offers. It is very easy to accumulate a large amount of debt.

 

The problem with credit card debt is that spending is easy, accumulates quickly, and can be very difficult to pay off. Credit card companies want consumers to spend to the limit so they can collect more interest. Some companies offer cards even if you have bad credit - for an exorbitant interest rate, of course.

 

Once spending IS out of control, it can make life difficult. With large credit card payments, people cannot pay rent, utilities, and their necessary bills for living. This can become their worst nightmare.

 

Review Spending

Sit down and list your monthly obligations – rent, utilities, cable service, credit card payments, long term payments (such as a furniture purchases, school loans, etc.) and anything else that comes to mind. Subtract it from your income. Then, ask yourself these questions?

 

Managing Credit Card Debt

Dave Poletti & Associates - Resident Newsletter

Don’t Forget!

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It is important that you report your maintenance promptly to avoid delays in service and additional damage to your residence. Plus, we have made it easy to report your maintenance - at www.DavePoletti.com . Then choose the “Maintenance” button on the left of our home page, fill in the blanks, and click “send.”

 

Our goal at Dave Poletti and Associates is to provide you with prompt service. Your main-tenance request will be reviewed and tracked immediately. The more detailed information you can provide us will help in our service to you.