Cutting Credit Cards

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The Zen Habits website is more known as a personal development style website so it is a little surprising to read there an article called 6 Simple Steps to Credit Problems. The fact that it appears there is, I feel, a sign of how significant the current crisis is seen.

The article presents you, as the title suggests, with 6 steps you can take to help avoid credit problems. The steps are simply put and are quite logical and straightforward. The article suggests that you curtail spending, create an emergency fund, make debt elimination a priority, lead a simpler lifestyle, make sacrifices and commit to avoiding credit.

Six simple steps that anyone can understand and, at first, would seem simple to achieve. I wonder, though, how easy would it be for you to avoid credit problems? Ask yourself these questions;

1. Can I cut back on my food purchases?
2. Can I save money weekly to create an emergency fund?
3. Can I afford to pay more each month to reduce my credit card/loan bills?
4. Can I sell my car?
5. Can I sell my house?
6. Do I have enough cash to make purchases I really need?
7. Can I cut up my credit cards?
8. Do I trust my bank to look after my savings?
9. Can I trust my mortgage/finance company?
10. Can I, if I wanted to, simplify my life?

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Tags: Credit card, money, Money Management, Personal Finance, Saving, Zen Habits