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Providers of CareOne Credit Counseling services offer consumers some helpful tips on how to manage their credit debt effectively even when the cost of living is so high. In the month of May, they address how to combat rising food and gas prices without drowning in credit card debt.
Baltimore, MD (PRWEB) June 2, 2008 -- CareOne Credit Counseling Service Providers Offer Advice to Help Consumers Control New Wave of Credit Card Spending
With credit card companies lending to fewer consumers because of the credit crunch, credit card spending on luxury items has been on the decline. At the same time, however, consumers are facing a new debt dilemma: higher gas and food prices. Now, many US consumers must make these regular, essential purchases on existing credit cards just to make ends meet.
"The rising costs of essential items like food and fuel are having a serious effect on consumers who are already cash strapped," says CareOne Credit Counseling services Spokesperson Clarky Davis. "With economic concerns constantly in the headlines, people are watching every penny they spend, and many consumers are finding that they are not able to cover their expenses from paycheck to paycheck. They are using their credit card to buffer their spending, which is having a snowball effect and sending families deeper into debt."
CareOne service providers offer the following advice to consumers looking for ways to better control their debt without resorting to using credit cards for regular routine purchases:
1. Learn to budget based on income rather than available credit. This can be a harsh change to many consumers used to spending more than they're making, but scaling back is one of the best ways to get credit card debt under control.
2. Try to account for all of your routine expenses in your budget without turning to credit cards. This way, you'll save money on interest payments.
3. If you must use credit cards for these purchases, always keep detailed records and never put more on a credit card than you can pay back that same month, or even that week. This is because these are recurring costs, and they'll continue to add up until they're out of control.
4. Save money on fuel costs by looking into alternative transportation options, such as public transportation or carpooling. Also, cut grocery costs by planning meals ahead of time to take advantage of the best prices.
5. If your credit card debt is already out of control, consider using debt management services from a reputable credit counseling agency that can negotiate with creditors on your behalf with regards to your unsecured debt.
About CareOne Credit Counseling Services
CareOne Credit Counseling Services is a service mark of 3C Incorporated, and is an industry leader committed to providing consumers with education and debt management services related to improving and maintaining their financial health. CareOne Agencies have helped over 4.5 million people pay down debts through solid relationships with over 220,000 creditors. For more information about CareOne debt management services or resources, please visit www.CareOneCredit.com, or contact Clarky Davis at (410) 925-9769.
Contact:
Clarky Davis
CareOne Credit Counseling Services
8930 Stanford Blvd.
Columbia, MD 21045
Phone: (410) 925-9769
Email: cdavis@careonecredit.com
Web: www.CareOneCredit.com
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