Although credit cards can potentially exacerbate debt, when utilized under strict control, credit cards can be incorporated into a budget as a way to save on purchases and even build good credit. However, particularly for those who have constrained budgets, it is important to use credit cards sparingly to avoid large interest payments that could strain budgets even further. Please visit any of the calculators below for more specific information or calculations.
It is important to make sure not to double dip when accounting for student loans, personal loans, or credit card debt in the budget. This applies to student loans and tuition and credit card balances being carried month-to-month. Continue reading “For instance, do not add $20 to both Credit Card and Meals Out for the same dinner”