When it comes to credit cards, it is so easy to overspend each month and fall into a cycle that is difficult to break. If you have been charged high Annual Percentage Rate (APR) fees, getting out of that debt trap can be a key ingredient to gaining more financial independence - and debit cards can help you do it!
The first step to moving away from high APR credit cards is to find a better option of handling your money. Getting a prepaid debit card can be an important first step in beginning this road to improving your financial lifestyle.
Debit cards allow you to make purchases with money you currently have in your possession rather than depending on the money that you could or will make in later weeks, months or even years. By using a prepaid account you are giving yourself the upper hand instead of a credit company.
The switch from a credit card to a prepaid debit card may seem like a small change but you can reap endless rewards by changing the type of card you hold, in turn improving your lifestyle.
First, with a debit card you will be able to see the difference first in the way that you budget your expenses. When you make a purchase with a debit account you won't have a bill to pay at the end of the month. Instead of being billed, the amount is simply withdrawn from your card.
Eliminating a credit card from your daily life will take away the bill to pay at the end of the month to your credit company. This is especially important if you are currently paying any amount of an Annual Percentage Rate on your account as it can save you large sums of money in the long run. Saying goodbye to credit companies will let you benefit more from your hard-earned money instead of throwing it away on numerous fees for using the credit service. Spending less on APR charges lets you put away more savings in case unexpected costs come up in the future.
The other reason is convenience. Since debit cards carry the Visa or MasterCard logo, your debit card will work in the same places where credit cards with the same logo are accepted, giving you the same convenience factor.
Investing in yourself is the most important thing that you can do for your finances. Remember that when it comes to money you will be the only person who regards your financial future as a top priority. To get more information about prepaid debit cards, go to http://www.LifestyleDebitCards.com
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