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No more running up credit card bills

^{Published on 2024-12-14 07:40:47 - The Royal Gazette}
 

• Dear Dave, A friend told me about your Baby Steps plan, and after years of living paycheque to paycheque and running up credit card bills, I'm ready to get control of my finances. I just have one

The article from The Royal Gazette discusses the increasing trend of consumers using credit cards to manage their finances amidst rising living costs. It highlights that while credit cards offer convenience and rewards, the practice of running up credit card bills can lead to significant debt due to high interest rates. Financial experts warn against this habit, emphasizing the importance of budgeting and financial discipline. The piece also mentions strategies for managing credit card debt, such as paying off balances in full each month, using cards with lower interest rates, and considering balance transfer options to mitigate interest costs. Additionally, it touches on the psychological aspect of spending with plastic versus cash, suggesting that the former can lead to less mindful spending. The article concludes by advocating for a balanced approach to credit card usage to avoid financial pitfalls.

Read the Full The Royal Gazette Article at:
[ https://www.royalgazette.com/personal-finance/business/article/20241214/no-more-running-up-credit-card-bills/ ]

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