Philadelphia, PA (PRWEB) September 07, 2013
Debt Consolidation USA, an online source of information about debt and debt relief issues, reacts to the recent news published on the Daily Finance website. The news publication was released last August 21 and is titled “Credit Card Debt: Falling But Still Very High.” It simply discussed how this type of debt is steadily going down.
The DailyFinance.com article mentioned that the credit card debt is down by $150 billion compared to the debt amount back in 2008. Debt Consolidation USA provides their reaction to this piece of news through their own published article “The Falling Credit Card Debt: Are We Wising Up?” The article published on September 3 gave the following assumptions about the data from Daily Finance.
1. Consumers are making less credit card purchases.
2. Consumers are more conscious of what they buy through credit cards.
3. Consumers are making timely payments.
4. Consumers are using debt relief programs to lower their credit card debt.
The debt relief website thinks that Americans are practicing better financial management habits - which bodes well for their future. The article states that consumers are stressed because of this high debt amount.
Debt Consolidation USA understands that some people cannot live without their cards and to keep them away from debt, they provided some guidelines.
1. Live on a budget. This is the only way that consumers can limit their credit card purchases so they can live within their means.
2. Stick to cash for daily expenses. The article also advises consumers not to use their cards for everyday spending. That will help eliminate or lessen unnecessary expenses.
3. Utilize the rewards on credit cards. These cards usually have reward programs and the consumer is encouraged to maximize them.
4. Pay the balance before the grace period. The article suggests that consumers must make it a habit to pay their balance in full and within the grace period of the billing cycle.
5. Save up for an emergency. Lastly, the article urges consumers to save up for unexpected expenses. That way, they don’t have to rely on credit cards during emergencies.
To read the whole article, visit Debt Consolidation USA or click on this link: http://www.debtconsolidationusa.com/creditcarddebt/the-falling-credit-card-debt-are-we-wising-up.html.