Tip 1:

Live within your means. You need to think about living a balanced life rather than sacrifice. It’s all about the way you think about the situation – your mindset.  Positive thoughts mean that you see the glass as half full rather than half empty. How you perceive the situation can therefore affect your health – mental and physical and have an impact on your finances.

Tip 2:

Pay all bills early. Ever heard about universal default? Universal default allows creditors to increase your interest rate if you default on a bill from another creditor. Your payment history can haunt you! Mail delay is therefore your enemy, so beware to mail your payment at least 7 days before it is due.

Tip 3:

Pay more than the monthly minumum. Low payments are a trap to keep you in debt for a very long time. You cannot get out of the pit of debt and become wealthy if you pay the minimum!

Hope these help!

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Tags: credit management, tips
Filed under: Money tips