Wk5DQ2 - high-interest consumer credit. Avoid consumer...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
According to section 6.4 of Personal Finance, some of the positive steps you can take to manage your debt are: Do not borrow money to pay for things you can not afford to buy with cash unless you have a specific plan for repaying your debt. If it is at all possible, pay your credit card balance in full by the due date in order to avoid any finance charges. Keep track of your monthly expenses to make sure that your net monthly cash flow is on target. Limit yourself to a small number of credit cards. Avoid
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: high-interest consumer credit. Avoid consumer credit that involves annual fees. Do not use consumer credit to pay for regular expenses unless you are doing so in order to take advantage of free frequent flier miles and discounts or because a credit card is required (e.g., internet purchases, car rentals, hotel rooms) and you plan to pay the balance in full each month. I found a great web site that was very insightful as well. http://hubpages.com/hub/4-Steps-to-Managing-Debt-Income-and-Savings...
View Full Document

Ask a homework question - tutors are online