How to protect seniors -- older parents, relatives and loved ones -- who live alone. Tips on what to do in case of an emergency. Safety ideas.

Friday, February 06, 2009


Rule 6. Consider cultivating a cash-only credo (cutting out credit).

The only way to reduce your credit card balances is to pay them off faster than you spend on them. Stopping spending on credit cards is the quickest path to a debt-free state. If you cut credit card usage to zero (or use them only for emergencies), you will not only reduce your outstanding credit card debt faster, but you can plan better and calculate when those balances will go to zero. Steady reduction in your balances month after month also looks good to credit reporting agencies. If you insist on using the cards, consider an alternate strategy: paying off whatever you spend each month plus the minimum payment due.

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