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How can you avoid credit card debt?

On Behalf of | Aug 27, 2021 | Credit Card Debt | 0 comments

When you fall into debt and have to file for bankruptcy, it can feel like the end of the world. Moving forward, your top priority will likely be some form of avoiding relapse or the possibility of falling back into debt again.

But how can you do that? Some things you cannot control, but others are within your grasp. This includes how you treat your credit cards.

View it as a debit card

The Balance lists out numerous ways to potentially avoid credit card debt. One of the biggest ways is by changing the way you view your credit card in the first place. You likely consider your credit card as a way to borrow the money you do not have at the time or do not wish to put down all at once. Unfortunately, this is the easiest way to fall into debt. You end up stacking your expenses until you can no longer keep up with payments, at which point you will take on additional costs through late fees or interest.

Instead, treat your card like a debit card and only spend the money you have on hand. This helps you avoid incurring those extra fees by allowing you to pay off every bill on time and in full.

Use your card responsibly

Treat your card responsibly, too. This means no giving it out to other people to borrow, no taking cash advances, and no signing up for multiple cards in an attempt to get around the spending limit. It exists for a reason, after all: going beyond it will likely go beyond your means, too, which undoubtedly leads to bankruptcy.