Would you go to a bank and borrow money to buy a pair of shoes? How about applying for a loan for an outfit that you must have? Most people would answer no, yet this is essentially what you are doing when you use your credit card to purchase frivolous 'you think you have to have' items.

Having many credit cards used to be fashionable, but not any more. Paying cash still reigns supreme. Unfortunately, the lives of most Americans are riddled with debt, most of it from credit cards.

Isn't it interesting that the words debt and death sound so much alike? Being in debt can kill and steal your joy. Do not allow improper use of credit cards to be a burden to you. Here are a few basic steps to wise management of your credit card:

· Keep your receipts of purchases made during the month and verify the purchases on your credit card statement monthly.

· Decide that if you cannot pay the bill in full when the statement arrives, then do not make the purchase on your credit card.

· Resolve to use your credit card ONLY for rental car and airline reservations. However, pay cash when settling the bill.

· Pay more than the minimum balance each month.

· If possible, pay the credit card balance in full each month. Decide now - if you cannot pay the balance in full at the end of the month, then do not make the purchase at the beginning of the month.

· Pay the bill BEFORE the payment due day to avoid late payments and interest.

· If you are over your credit card limit, attempt to pay at least the amount over the credit card limit immediately to avoid paying an 'over the limit' fee, which can be as high as $25.00 a month.

· Instead of using a credit card, use a check card. With a check card, funds are automatically withdrawn from your checking account when the purchase is made, thus no bill at the end of the month.

· When you get a new credit card, read the fine print. In many instances, companies offer low interest rates initially to get your business and that rate is only available for a limited time.

Focus on reducing your credit card debt. It's all about living abundantly!

Contact Mary Grate-Pyos at:
MGPINVEST@aol.com