Don't Build Credit!
The latest Consumer Price Index reports that inflation rose 9.1% from a year ago in the month of June.
As the cost of everyday goods and services goes up, many have turned to credit cards as a way to get by.
If you find yourself relying on cards, here are 3 tips to help get yourself thru today’s turbulent economy.
??Pay Your Bill On Time
Even if its just the minimum, stay current to avoid late fees and penalties. Your payment history is a major factor in maintaining a strong credit score so don’t skip payments.
??Pay in Full
Do your best to not carry a balance. Credit cards are notorious for charging high interest rates and inflation is only causing it to climb higher. Don’t dig yourself into a deeper hole.
??Find A Card With An Interest Free Period
Certain cards offer interest free periods on new purchases that might allow you to buy things you need while still giving you the time to pay them off at no additional cost. The big takeaway here is only delaying paying for as long as the interest free payment lasts. Don’t get caught in a mess with this one.
It might not be easy but the goal should be to get out of this market in the same condition if not better than you entered it in. Don’t let credit cards be your demise.
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