After doing my research, I found out that credit card debts play a big roll in bill accumulation leading to high bills.
These bills may take many years to be cleared off if a serious action is not taken.
Due to temptation, People misuse their cards making them overspend.
Before you decide how many cards you are going to have or maintain, you should ask yourself a few questions.
Do you really need all those cards? For what purpose and, how are the interest rates? At this time, you will be able to know how much money you have really wasted.
Do not feel frustrated, you are among millions of people with similar problem.
Instead, cheer up since you are now on the right path and, start clearing off all the cards with high interest rate to avoid putting more money into waste.
Many people have no concern in calculating the total interest rate leading to high bills.
Pay off all the unnecessary cards and remember to close the accounts immediately.
You should never close an account before you have completed paying off the bills to avoid paying excessive bills in case the company decides to take a law action against you.
If you must have have cards, maintain one with the lowest interest rate and, make sure to clear its payment at the end of the month.
It's extremely important to use the card on emergency purposes only.
This means you will use cash on all other expenses and, you will not overspend again.
However, its always good to stick to your budget if you really want to maintain good control of your finances.
Credit cards are good when only used for the right purpose and, paid off at the right time.