Lewis & Monroe, PLLC
Free One-Hour In-Office ConsultationsFree One-Hour In-Office Consultations

How to avoid credit card debt during this time next year

Just how should one use their credit card over the holiday season? This is one question many Florida residents are asking themselves after putting themselves in significant debt from buying gifts this year.

The first thing to do -- before even spending a dollar -- is to create a budget. By having a budget, a shopping isn't as apt to just go out and start swiping their credit card and overspending.

At the same time as creating the budget, now is also a good time to get a clear picture on all debts that have already been accrued. This way a shopper will know how much he or she can actually spend. When figuring this out, also keep in mind that experts advise against spending more than 20 percent of a credit limit. Spending more than 20 percent could end up negatively impacting a credit score.

Lastly, if in the middle of shopping a person realizes that he or she has already gone over budget, something went wrong and it is time to stop. The idea of just putting debt on top of debt is never good for anyone.

For many Florida residents this advice may come too late as they have already overspent this past holiday season. Or, in other cases, medical emergencies and other unplanned events happen, and the credit card debt just keeps piling up. Either way these tips are still useful to follow in the future. For now, an attorney with experience in debt relief solutions can help explore what options are available.

Source: Fox Business News, "Warning Signs for Holiday Credit Card Debt," Dana Dratch, Dec. 20, 2012

No Comments

Leave a comment
Comment Information
ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
Email Us For a Response

Contact The Firm In Orlando, Florida

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Lewis & Monroe, PLLC

651 Rugby Street
Orlando, FL 32804

Phone: 407-917-4147
Fax: 407-246-0008
Map & Directions