8 Tips to Use Credit Cards Wisely to Avoid Debt | HowAfrica Latest news, views, gossip, photos and video

Credit cards are a staple in modern finance, but they come with the risk of accruing debt. HowAfrica offers 8 tips to use credit cards wisely and avoid debt. Firstly, keeping track of your spending can help you monitor how much you’re spending and prevent overspending. Secondly, pay your bills on time to avoid late fees and interest charges. Thirdly, don’t overspend just for rewards points, as it can lead to a pattern of debt. Fourthly, avoid impulse buying, as it can be tempting to buy items on credit that you can’t necessarily afford. Fifthly, know your credit limits and try to stay well below them. Sixthly, pay off as much of your balance as you can each month. Seventhly, avoid cash advances as they come with high interest rates. Finally, assess your credit card usage at least once a year to ensure you are not falling into patterns of debt. Remember that credit cards can be helpful tools when used responsibly and cautiously. It’s essential to remain vigilant regarding credit card debt as it can have long-lasting financial consequences.