No Credit Card Means No More New Debt October 9, 2008
Posted by Vedis in : Credit Cards , add a comment
I have no credit card with me any more. The last one that I used for emergency was also terminated a few days ago.
It’s good that I just have to concentrate on paying off credit card debt. No more new debt from now on. This also means that I must use cash on everything, even on a pack of biscuits or a best buy cap.
What if I run out of cash when there is an emergency? Well, leave it to God. He will take care of it.
You Don’t Need Tips On How To Choose The Best Credit Card July 10, 2008
Posted by Vedis in : Credit Cards , add a commentLike choosing the best fat burner, there are also tips on how to choose the best credit card. In fact, 12 tips.
I no longer need to read tips for picking the best credit card. The reason is simple. My goal is to be debt free in 3 to 5 years.
No more using credit cards. Use cash or debit cards. Not enough money when it comes to buying big tickets? Then, delay the purchases.
Tighten Your Belt, Save Big Money & Pay Off Credit Card Debts June 10, 2008
Posted by Vedis in : Money Saving Tips , add a commentWith the increasing gas prices, everyone is doing their best to tighten their belts and save more money. You are lucky if you are debt free. I am deeply in credit card debts. Not only do I need to tighten my belt and save money, I have to pay off tonnes of credit card debts.
Here are 10 big saving tips that you can try if you think of saving more than a few bucks here and a few bucks there.
Among the 10 big money saving tips, I love the tip of using cash. Yes — Use Cash. I am so used to using cash now that I carry cash only. My remaining 2 credit cards that haven’t been shredded yet are left in my bedroom most of the time.
Another money saving tip that I follow diligently is — Note Every Dollar I Spend. Whether it’s a candy bar or some very cheap pens, jotting down every dollar I spend helps me explore areas where I can save more.
5 Simple Debt Reduction Method to Financial Freedom April 5, 2007
Posted by Vedis in : Debts / Credit Card Debts , 5comments“It doesn’t matter now.”
I have been telling my friends this recently whenever someone finds out that I am in Debt Trouble. It just doesn’t matter how we got into our debt trouble. Stop harping on what we spent on, how much we spent and why we bought those junks that we thought they were “must-haves” items at that time.
“It just doesn’t matter now.”
The most important lesson we have learnt from getting into debt is to get out of debt trouble as soon as possible.
Have we taken actions ? Yes, we have and we are. Here is our Simple Debt Reduction Method at the moment before we apply more advanced techniques for debt repayment:
1. Cut Off Credit Cards to Avoid Extra Charges. I still keep 3 credit cards. Originally, I owned 7 credit cards ! (I once boasted to my hubby that I wanted to own 10 credit cards ! Silly enough !) I am waiting to snip another credit card. My hubby has cut off 3 out 6 credit cards.
2. Write to Banks Asking for Lower Interest Rate. Now, our interest rate is between 9% to 12% per annum. 18% per annum is really a burden.
3. Spend Less. Many people have the impression that Women are the Big Spenders ! Wrong, you guys. My hubby is the big spender here. Again, you get him wrong. He doesn’t smoke, drink or flirt. He is just a watchmaniac ! He likes admiring, buying and keeping watches.
4. Make All of the Minimum Payments early or on time.
5. Use Cash if possible.
They are simple steps to implement. Just do it !
