Managing your personal finances can be a headache! Avoiding debt is a big part of it but the goal is also to effectively manage your income no matter how big or small.

We want to help you develop sound financial judgement by sharing tips that can help you plan your personal finances and activities.

Let’s examine credit cards. Here are some dos and don’ts for acquiring and using your card.

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First and foremost, don’t get a credit card that you can’t afford. Get a card based on your income no matter the limit being offered.

Do use your credit card only when you can pay it back. Basically, only use your credit card when you have available funds to repay in full.

Don’t miss payment due dates. Be sure to pay attention to your payment cycle and due dates.

Do maintain your credit card limit. Try not to go over it.

Don’t pay the minimum monthly payments. Increasing your payment allow you to faster reduce your current balance. Always aim to pay more than the minimum.

Do get a credit card that gives you some sort of incentive. Cashback, points or rewards are perfect.

Don’t forget even when you are not using your card, interest is being charged.

Do get all the information on your credit card interest before acquiring it.

Successful management of your finances is possible. It requires commitment and education, and we are here to keep you supplied with the information to help you make informed decisions.

To get more advice and information on managing your finances, contact a local financial institution.