Credit Cards: Can You Do Without Them?

Article source: http://caribbean-marketing.net/. Used with author's permission.

Credit card debt is the bane of nearly every consumer. The statistics are staggering. Depending on whose information you use, the average American may have at least a dozen credit cards, with at least a total outstanding balance of $5,000, and at minimum monthly payments with interest, these would take many years to repay.

There is another way. You've heard it before.

Cut up your credit cards. Keep one or two to use, and pay off the balance every month. Pay down the balances owed on all of your other cards. If you're like many Americans, the thought of cutting up your credit cards causes sweaty palms and hyperventilation. You don't know what you'd do without them. How would you live? How would you maintain your lifestyle?

It is possible. Many have faced exactly the issues you are facing and come through it with a healthy credit report and money in the bank. It takes a bit of work and some self-discipline, yes, but the results are more than worth it. You can rest easy at night. You no longer fear opening your mailbox. Your money is yours again. It doesn't all have to go to pay your credit card companies.

There are many excellent resources to help you with this transition. There are books and workshops by Joe Dominguez, Suzy Ormand, Phil Laut and Jerrold Mundis. Each of these authors and many more offer good information and sound advice for relieving yourself of the burden of too much credit card debt.

For most people, it is fine to have credit cards, as long as you are not abusing them. But for those who cannot control their credit card spending, it might be wise to look into group support or debt counseling. One excellent resource is Debtors Anonymous. You can find local meetings and information, including some good articles on Debtorsanonymous.com.

Jordan Mettarod is divorced and has custody of his 3 children. He works in consumer relations for a major department store. He loves camping with his children and teaching them life skills. You can read more articles about credit cards at FAQ Credit Card

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