Meta Search Engine Navigation


Look For It  




Debt Management – Credit Card Curse?



by Adam Heist

ARTICLE REPRINTING IS PERMITTED

Are you in credit card debt? Do you want to get out? It's quite simple really. Earn more than you spend and use the difference to repay your debt. This math could be worked out by a 5th grade student so what makes it so difficult to really get out of credit card debt? We take a look at some of the reasons below.

Firstly, people are just out of control when spending at malls. Our demand for luxuries and conveniences has increased manifold in the past decade and unfortunately our incomes have not kept pace.

What adds to the problem is that credit card companies make it so easy to avail their unsecured loans that the Joneses next door just seem to have everything. And you want it too now! Another way credit card companies don't make it easier is by offering the minimum payment trap. This means that you will practically never repay the loan in complete and actually end up paying much more in interest than the item that you actually bought originally!

Unfortunately, even financially responsible people fall into credit card debt. This happens mostly after a personal incident such as a divorce, loss of a job or a midlife crisis leading to a nervous breakdown!

So how does one know if they are in the trap? There are various signs available such as if your paying more than 20% of your income to repay debt (not including mortgages) then your in too much debt. Other tell tale signs include only being able to manage the minimum monthly payments, maxing our on several or all of your credit cards, frequently charging items that you feel will be paid by you at the end of the month but are eventually not done so. Other signs include using credit cards for everyday items such as groceries or for luxury items that you can't afford.

If your worried that those close to you will find out how much debt or in, or are simply worried for yourself about the debt your in, then you are definitely in the credit card trap. If your creditors are calling for their dues or your credit report is already suffering you need to take some affirmative actions right away.

The first thing is to understand exactly where you stand financially. This entail knowing how much you owe (and what your paying for it!) as well as how much you have in savings. Take stock of your situation and come to terms with reality. Understand what are your expenses (and how you can reduce them) and what is your income (and you can increase it). In a nutshell get cracking with your net worth and cash flow and get yourself out of that mess.


Information About The Author

Adam Heist is an avid freelance writer who especially loves writing about empire home loans . For more information regarding Loans take a quick peek at our site today.


Published by Meta Search Engine LOOK-4IT.COM.




You can reprint this article for FREE at your web site. Doing this you agree to keep all texts and hyperlinks unchanged.

Please keep reference to LOOK-4IT.COM meta search engine as well, if you decide to use this article as a free content for your web site.

Back to article category: Debt Management

Additional Debt Management Articles

Debt Management and Using the help of Agencies
Are the bills coming in faster than your income? If that's the case take heart for there is help at hand.

Debt Management Tips for Senior Citizens
Nobody I know wants to spend the last period of their life struggling with debt. Unfortunately though, that is exactly what is happening for an increasing number of senior citizens.

Debt Management Family First!
If you are in debt the first place to look for the easiest and lowest interest rate loans is your family.

Debt Management – Spending Less Means Saving More
hen you are in a hole, the first thing to do is to stop digging! So if you are in debt, the first thing you should do is to lessen your spending and increase your saving in order to reduce your debt.

Debt Management – For Women
There are a lot of women who delegate their financial security to their spouse. These are the same women who find themselves in poverty or debt ridden in the event of a divorce or death







Home  |  Submit Article  |  Link to Us  |  Directory  |  Free Content  |  Contact Us  |  Privacy Policy  |  Terms of Use

Copyright © 2005-2006, LOOK-4IT.COM. All rights reserved.

All trademarks, icons, and logos, shown or mentioned at this web site, are the property of their respective owners.
The information in the articles is provided without any warranty and must by used by the reader at their own discretion.
A professional opinion should be sought before taking any of the advice.