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Are you too far in debt?Debt in American is an ever increasing problem, and with 39% of all Americans paying only their minimum balance on their credit cards, it should come as no surprise that Visa, Mastercard, American Express, and Discover Cards are filling up to the brim with debt. Oftentimes customers will go as far as to pay off one card with another, creating a boomerang effect of debt.

One reason for this debt is the amount of Income-to-Credit ratios used by many credit card holders. A good mark is the 15% level. If more than 15% of your income goes to credit card payments, there’s a chance you’re on the brink of credit trouble.

But even with minimum payments and a high Income-to-Credit ratio there are steps that can be taken. The obvious step is too stop spending so much. A simple budget that’s planned ahead can help curb spending while leading to lower credit card bills. In order to lower bills there are a few quick areas you can examine. My favorite rule is the “no credit-card rule” I discovered this when I was at Aldi’s Food Stores. The Aldi’s by my residence only accepts debit transaction, this not only reduces my credit card debt, it also insures I’m only using money I have on hand. Another step in the food area is simple enough, buy non-brand name foods. While coupons may be tempting, they usually still end up costing more than non-brand name products.

Debt can become unmanageable if not taken care of in its early stages. Check out the articles in our archives to learn more about debt management. If your debt is beyond your own control fill out our Debt Consolidation form at Credit Card App Finder and a debt consolidation representative will be able to assist you further.

This article is the property of Credit Card App Finder and may only be published with the following tag added “Credit Card App Finder Online Credit Card Database, Credit Card Finder, and Review site.

James Johnson is the owner/operator of www.creditcardappfinder.com and an avid community service volunteer.

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