If you’ve been late with payments or have stuck only to paying the minimums, it’s time to give that up now. Here’s what you do. To avoid late payments, note the due dates when the bills arrive and then set a date for payment five to seven days ahead so you’ll definitely be able to mail your payment on time. To put more toward the balance, finally do a budget. Yes, create a “spending plan” that spends less than you earn! Yikes! This will help you identify the non-essential spending you’ve been doing so you can pay your outstanding credit balances faster.
One point to be very careful on, if you continue to use the credit card, you must, MUST payoff those new charges in full every month. It might be easier not to use the card at all once you’ve decided and made the commitment to pay it off. Either of these steps may be difficult to accomplish on your own. Enlist a friend or colleague, even your therapist to help with these critical steps.
As always, please visit our website www.weslingfinancial.com or email us at info@weslingfinancial.com for further info and to discuss your personal situation.
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