Easy and Smart Ways for a Credit Free Lifestyle


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Easy and Smart Ways for a Credit Free Lifestyle

Easy and Smart Ways for a Credit Free Lifestyle

Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
Our lifestyle today has been dictated by a society following the standards of the rich and famous. Through advertisements, we learn how they act, react, and spend. What few people realize is that this is the very reason why they are knee-deep in debt. People forget that the best way to stay credit free (and essentially hassle free), is by keeping a simple lifestyle. What exactly does "living simple" mean? Here are a few short definitions. * Buy only what you really need. Make a list of all the things that you need to have for everyday, whether for study, work, or recreation. Some people would reason out that they are busy to even follow their schedule, but that is where time and resource management comes in. Instead of dining out, you can try cooking at home. If you have to go to work, then it is best to pack your lunch. This way, you won`t have to eat out (and use your credit card to pay for expensive meals). If you want to eat foreign cuisine, then seek out a friend who can prepare snacks for you. This will definitely be cheaper than eating at a restaurant. Aside from saving your income, you can also help your friend add to their family`s income. They can use this extra income as savings. * Instead of paying someone to do the chores, do it your self and spare some time cleaning your own home. This will serve as your daily exercise, not to mention the fact that you are saving your income since you won`t need to pay for a helper! * Manage your resources. Learn to budget your available resource and always set aside enough savings for future use and for emergency purposes. If you can help it, don`t use your credit cards. While these provide you with greater convenience, it also charges you with interest with every transaction. If it is unavoidable to use credit cards, use it wisely and always monitor you transactions. Always be aware of the interest rates and repayment terms. Discipline is always a must for credit card users. * Always keep track of due dates for bills and other fees. Try using bill payment programs. Payment for bills can automatically be done through your bank as an automatic payment. But it is better to pay your bills in advance rather than waiting for the due date. If you fail to pay credit card dues on time, then the interests add up and it can lead to a bad credit history. It is also important to keep a record of payments. Quicken one of the top personal accounting software today is offered free online. You can also download excel template from Google Docs so you won`t need to keep a log book. * Practicality means that you always use common sense when buying stuff. Avoid impulsive buying because chances are, the stuff you buy is not something you need. If you can, reuse things instead of buying new ones. There is no reason to sour grape when you get hand-me-downs - this is one good way of lessening your expenses. When it comes to keeping simple lifestyle, the keyword is "creativity". We need to be creative and always find ways to save.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!