When making purchases, consider using a credit card only if you can pay off the balance when you receive the next statement. Over time, high interest rates and credit card fees can add to the cost of an item and make it difficult to pay off what you owe. Avoid possible automatic rate increases, and other credit card pitfalls, by making payments on time. Use the Credit Card PayOff Calculator to set a goal to get out of debt and to determine what it will take to reach your goal.
Listen to a CPA's advice about managing credit card pitfalls on the newest Feed the Pig podcast. Visit www.FeedthePig.org for more money-saving tips.
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