Hello! My name is Tim, here to talk to you a little about using credit wisely, credit card debt wisely. Credit cards have become popular. A lot of the credit card companies rely on people running up big balances and then paying them back over a long period of time, that's how they make money.
To beat them at their own game is very important and what I mean by that is, use credit wisely. Use it only for the purposes that you need, don't finance the future, don't spend more than you can repay in any given month optimally. If you have to use credit card for a purchase that you know is going to take you a few months to pay off, make a plan with yourself, make a pact with yourself. Pay it off over four months, pay it off over five months but don't stretch too far. If something takes you more than a year to pay off, that's going to become a problem for you because there are other needs that come up in the mean time.
Manage your debt wisely; credit card companies want you to ring up the balance. Don't use the whole balance if they give you. If they give you a $5,000 balance, use a lot less than that. Use it wisely and it will be your friend; if you don't use it wisely, it can cost you a lot of money in the long run. If you have questions, you can seek the credit counselors, talk to your local bank, talk to your local financial planner. They can help, guide you too. That's a little bit about using credit wisely. Thanks.
