Credit cards can be very handy in tough financial times such as illness, when you are in between jobs, or when there is an emergency. If your car breaks down, a credit card can ensure that you can pay your garage bill and get back on the road. If your credit card bill is due, there are ways to manage your money to ensure you pay back the minimum amount, or the whole amount. Here are the best ways to get paying your credit card back.
Money Saving Apps
Money saving apps are a great way of tracking your finances and saving without even thinking about it. There are many apps out there that will save you money from your spare change. If you spend £3.59 on your lunch at work, apps such as Moneybox, save your spare change up to the nearest pound and then allow you to invest in a big company such as Netflix. This could help you earn extra money without having to do anything, and it is safe.
Cut Down on Spends
If you usually eat out quite a lot, this could be the month you cut back on this to save extra money. This goes for making lunch for work instead of purchasing food each day and spending less on morning coffees. Instead, invite friends around for tea or find deals online. There are many ways to save money on meals for example taking advantages of apps. Frankie & Benny’s often offers 40% or more on meals when you have the app on your phone. Try swapping brands for shop own brand products; things such as cereals are easy to swap without telling the difference.
Making Extra Money
There are many ways you can make cash extra cash online. You can complete surveys, become an app tester or sell stuff online. If you have a lot of old clothes, books or games, there are many different websites out there to sell your stuff. This is a good way to declutter. If you want quick cash, there are shops such as CeX where you can sell any electronics, games, CD’s and DVD’s. If you want to make more money, check out this great guide to make money online.
You should aim to save at least the minimum amount due each month, but you don’t need to stop there. If you get enough to pay your minimum amount, pay it back straight away so that you cannot spend it. For the rest of the month, ensure you are still saving money as any extra will mean less interest for less time. You can do credit card balance transfers that can save you money, so check with your bank for ways of ensuring that your interest rate is at its minimum.
If you are struggling with money, it may be worth talking to a financial advisor or asking friends and family for help. Ridding yourself of debt before it gets worse is the best way to ensure your financial safety.