Cards are vital in today’s "No Cheques accepted" society. HOWEVER - Once you have paid off your credit card the ideal Card is to convert your Credit card to a Debit Card.

Three reasons why:

• This way you can effectively budget and only spend your own money that you deposit into your card. More importantly you will earn interest on your positive balance rather than pay interest on the debt amount.
• It's always harder to spend your own money, so you will think twice before you buy!
• You will hopefully not get back into the endless, ongoing monthly credit card debt trap. Important tip as you pay off your credit card – contact your card division and instruct them to reduce your limit so that you don’t get tempted and get back into the debt cycle again.

Set a term – pay off your cards and convert to a debit card as soon as possible. When you have done this do a calculation to increase your car or bond payments with the wasted money you were paying on your credit cards. Calculate the massive savings you will make by diverting credit card spend to paying off your home or car sooner. The numbers will encourage you to set realistic, achievable goals. Good luck!