Should I Use My Credit Cards to Help Make Payments Towards My Debt?

There was a time when I paid off my credit cards in full each month. No matter what I charged on them they were paid. My wedding that had costs thousands was put on a credit card and the following month it was paid in full. But when the economic crisis started and my income began to decrease it became harder and harder to pay off those credit cards every month like I used too. Eventually, we began using credit to pay for other credit, which had turned into a financial disaster.

I always thought that things were going to get better, but two years after that point, things really haven't improved economically. I had figured that everything was going to turn around and we would payoff all these cards again just like we did in the good old days, but we're still waiting for the good old days.

I am going to tell you now, DO NOT USE YOUR CREDIT CARDS AS AN INCOME SUPPLEMENT! I made the mistake of thinking that at any moment things would be the way the used to be and we would have no problem paying off our cards. But in times like these you CANNOT base your financial decisions on what used to be, you need to focus on what you have today. I know how hard this is to consider and that you are thinking if you just take that cash advance it all be fine. At this point things are not fine. That doesn't mean that they aren't going to get better future, but right now is just not the time.

If you really need to supplement your income here are a few ways you can do that without relying on credit cards:

Check around your house for items you can sell. I have sold everything from clothes, CDs, and even parts of my toy and comic book collection to get cash to put towards my debt.
Get a job! Unemployment is at a high right now, but you could find a second job that could supplement your income enough to help make up the difference. I've worked at night as a security guard and a janitor to help me get by.
Rent out a room in your home or find a roommate to share the rent.
Turn your hobby in a business. Blogging about personal finance makes me a couple of extra bucks.

Your long term financial security may require you to make the right choices today. And what is right, isn't always what's easy. You need to do whatever it takes to get out of credit card debt, build an emergency fund, and work on your retirement savings. Doing what you have to do doesn't mean you have to do it forever. Maybe a few months or maybe a year. This isn't a punishment. It is a choice to do what is right and take action to build financial security and live like other can't.

[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]

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