The word credit sounds very attractive to most people, and especially when it is a credit card. This is a great benefit that banks can provide us today. However, it carries a huge responsibility .
Credit cards allow us to use a certain amount of money that we don’t really have. It seems to make our lives easier, doesn’t it? certainly if it grants accessibility to certain things that, without it, we might not be able to access. However, not everything is pink.
Like everything in this world, credit cards have their advantages and disadvantages as well. The use of that “borrowed” money accumulates as debts for us . As if that were not enough, a certain amount of money is added to the total amount of these debts, which represents the percentage of interest charged by the bank.
The reality of credit cards is that if we know how to manage in a correct way, being aware and limited with their use and responsible when requesting an increase in the credit card limit and in our credit capacity, you can have more positive than negative impact.
What is the control of payments of a credit card?
The control of payments of a credit card is based on the study and analysis of its monetary flows , that is, the investigation of its operations based on the amount of money that the user has specifically for this. So don’t let short and long-term interest rates rise .
A good control of credit card payments helps to keep the user’s economy stable . A simple way to start controlling the payment of your credit cards is to be very aware of their use, taking care that the expenses of this, which will be your debt, is not greater than the amount of money in your income monthly.
Second, add up all the income you earned for a full month, regardless of whether you are an employee or self-employed. What you need to know is what is the average amount of money you receive for a month of work.
Having this account ready, we continue to make the sum of all our debts for a month, everything that takes money away. If the sum of the latter is less than the sum of the income, we can use a certain percentage of what is available to pay off the debts with the credit card bank.
If the total of the debts exceeds the amount of the total of the income obtained during the same amount of time as the debts, it is recommended that the use of the credit card be suspended and if necessary, that you eliminate your credit card Play Store credit to avoid more debt.
How to pay a credit card?
Each bank has different ways when making the payment of your credit card debt . Although most have the option of making the payment through the internet, or in the oldest way, which is by going to the bank headquarters closest to you and depositing a check or cash to your credit card account. credit.
The best thing is that you explore these options, because technology almost governs us and the safest thing is that there is an easier and simpler payment method, such as making a transfer through a message from your cell phone.
Steps to make a spreadsheet in Excel and thus keep track of credit card payments
This worksheet can be done in an Excel spreadsheet , in which we must create six basic columns that are the ones that will allow us to record the data of:
- Card type
- Balance to pay
- Expiration date
- Future payments
- Interest rates
- Payments made
After this, we create a list where all our credit cards will be included. We multiply the amount of balance that the card with the highest interest has and set a schedule based on what we can pay . This form must be updated every time we make the payment of a credit card.
