Michael Welter

Credit card debts can leave you with sleepless nights. This may also hinder from attaining your financial goals. But, it is not saying that credit card usage is a disadvantage. In fact, can be an excellent part of your lifestyle! It allows you to take advantage of free travels/perks. It also gives you purchasing power on things that you want/need to buy. With the proper attitude and planning on your credit card usage, you are likely to be successful in managing your card purchases. Here are few steps in using credit cards without falling into the debt pit: > Stop creating a debt pit – Prior your credit card usage as part of your financial plan, you need to make sure that you are not creating deeper pit of debt. Realize that debt is a symptom of the problem. You need to have your spending under control so that you are not exceeding on your planned budget. If you feel that you are sinking deeper on debt, STOP credit card usage at once! Try to go at least few months wit...

We think negatively when we hear the work “budget” – basically, it is just a simple plan to have a better picture of your incoming and outgoing funds. It is a way of steering and taking control of your money. Who should budget? Anyone will benefit from a budget, it is not just i8mited to people who are having financial problems. One will be able to distinguish and realize the difference between feeling in control and being able to plan ahead. If you are spending less than what is coming in, you can use a budget to work out how much you can “save” each payday. We call it “paying yourself first”. If you are spending more than what is coming in, you can use a budget to see where that extra fund is being spent with. And you can also check on where to cut down when it comes to additional expenses. Building your budget In creating your budget, we simply add up how much fund is coming in and out of the household coffer, then work on the difference. The result w...