Lay off the plastic
Saying goodbye to your credit cards can save you from Bankruptcy
When you get a chance, open your wallet and count the number of credit cards. Many of the people we’ve come across have found themselves in Bankruptcy proceedings without even knowing how many credit cards they were carrying. That’s some scary stuff. More and more people across the country have been struggling due to a variety of factors that have hit us hard. Sadly, many of those people turned to maxing out their credit card to get by as things got worse. Unfortunately for them, it’s a steep climb back up. But if you’re not quite over the edge yet and you’re interested in making sure you don’t get there, cutting down on your credit card use can go a long way in helping you outmaneuver Bankruptcy.
Swiping the plastic is too easy
Credit cards – one of the most ingenious creations that have ever impacted the general public. Sure, they couldn’t be easier to use and they make your life a breeze when out anywhere. No more clumps of cash or fiddling with change. There’s no denying that credit cards offer convenience for the consumer. But if you think to yourself for one second that is the reason why banks introduced credit cards to the public, you’d be sadly mistaken.
Banks and credit card companies profit directly off of the convenience of credit cards and all the benefits you believe they’re providing to you. The truly brilliant thing about credit cards from a bank’s perspective is that they make purchasing effortless. Before you know it, you could have spent thousands over the course of a few hours, and you’d show no physical loss for it. One thing is to slide a piece of plastic through a machine. Shelling out hard cash is another thing entirely. Banks wouldn’t have it any other way. At the end of the day, they are the ones making off with your hard earned money in the form of interest and late payments that you likely wouldn’t have incurred had you been forced to shell over cash for everything you bought. In fact, many people have avoided some really bad things like Bankruptcy by switching to an all-cash system.
Bankruptcy doesn’t have to be in your future
Credit cards have become an omnipresent force in today’s society. A good number of people probably don’t even remember what it was like before credit cards, let alone believe that it is possible to live your life without any. However, those people would be completely wrong. Credit cards aren’t an inextricable part of your life. Especially if you’re thinking that Bankruptcy might become an option for you, try to cut down on your credit cards first. By cutting out the plastic, you can do a better job of budgeting and you’ll likely have more disposable income to show for it in the end.