Question by ZXZX: Has anyone paid off student loans with credit cards, or know of someone that has? Is it possible to turn federal student loan debt into unsecured credit card debt, thereby not having the IRS on your tail if one does not pay the credit card debt that was used to pay off [...]
Still, credit cards are a fact of 21st century life, and it only makes sense to understand how to use them wisely. While it’s probably impractical to keep all plastic out of your wallet, it is prudent to limit the number of cards you have, and, of course, to pay all balances in full every month.
The envelop system works great for this. If you budgeted $500 for groceries, get an envelop and put $500 cash in it. Once the money is gone, you don’t spend any more money in that category unless you take from another. Make sure the budget is realistic.
So, high-profile companies have now put free information together so you can stop getting harassing phone calls and letters from your credit card company.
Having debt is serious business, in fact, it’s estimated that each American family has approximately $20, 000 in debt. Once again, these are high interest loans, and when hard economic times hit, the first thing that doesn’t get paid is a credit card bill.