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Manage Your Cash Flow With Your Credit Card

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Want to use your credit card to balance out your income and manage not to go into soul-sucking debt? It is completely and totally possible. Honestly, it is not as hard as you might think it is. You have to make up your mind that you are going to do it and then sit down and figure out a plan. Write down a 90-day cash need and decide where it is you go wrong and where a credit card can help.

Get Out Of Debt

Yes, this is something you have to do. No, it is not going to be easy or even an overnight thing. That is why you must sit down and write out a plan. Write down everything you have coming in versus what you are spending. Decide what needs to go. Live within your means. What that is going to entail is basically do not spend more than you make. Pay off all your credit cards and do not use them for anything that you do not have to have. Pay off your credit card each month so that you do not carry a balance.

Manage Your Cash Flow

Do not do anything with any income that you have until you get home and have time to work out your financial situation. Do not make impulse buys on purchases you know you do not have the money for.

Look at your expected income and spend accordingly. For example, you know that you have 200 coming next week, but your phone bill is due and you are out of groceries. Only spend the 200 on your credit card until you know you have another source of income coming in. This way your cash flow has been stretched but you are not going to go into debt.

Be smart with your money and manage it so that you know that you have everything that you need without going into debt. It does you no good to set a goal but then not do anything to manage your income to reach that goal.  You can also find some more information about managing your money and emergency spending here.

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