While cutting up your credit cards might seem like the only surefire way to make sure that you don’t carry any monthly credit card debt, after taking a look at those who never have this monthly dilemma here are a few ways to make sure it doesn’t happen to you.
These say spenders usually have an Emergency Fund and a separate Vacation Fund. They don’t rely on credit cards in emergencies and are regularly putting cash into accounts to avoid crediting large sums that they can’t pay back.
They also avoid the rewards trap, it’s tempting to spend big to rack up extra rewards points or cash back, but if you aren’t paying off the balance in full the tiny rewards percentages just aren’t worth the fifteen percent interest you’re paying on your balance.
Another strategy that might seems obvious to you is that they spend within their means.Using apps like Mint can hep you organize your accounts in all one place. Shopping with a list is also a god tactic. Planning your daily spending before you go out helps to stop you from splurging on any impulse purchases.