Hi Reader,
Credit cards themselves aren’t bad. It’s how we use them.
Responsible credit use can help build your credit history, earn rewards, and provide flexibility.
The best way to use them? Become the credit card company’s worst customer.
Pay off your balance in full every month and enjoy 0% interest.
If you’re serious about eliminating debt, here’s where to start:
✔ Track your spending: Understand where your money is going.
✔ Prioritize high-interest debt: Focus on paying off the most expensive balances first.
✔ Cut unnecessary expenses: Small, temporary sacrifices make a big difference.
✔ Increase your income: Side hustles, selling unused items, or negotiating a raise can accelerate debt payoff.
✔ Use a repayment strategy: Choose between the Snowball Method (smallest debt first) or Avalanche Method (highest interest first).
🚫 Don’t withdraw from retirement accounts. Taxes and penalties make this an expensive solution.
✅ Explore alternatives. Balance transfer cards, debt consolidation, or credit counseling can help reduce costs.
🔑 Build an emergency fund. Having 3–6 months of expenses saved can prevent future reliance on credit cards.
Instead of making credit card companies rich, make yourself rich.
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David N. Waldrop, CFP®
Owner of Bridgeview Capital Advisors, Inc. a Registered Investment Advisor.
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