"Your financial statement is ready."

Are you worried about your debt that keeps piling up?

A few handy rules of thumb will help you avoid debt traps from credit cards, student loans, and subscription fees.

• Does everyone around you have a new iPhone?

• Would you like to buy one, but you don't have enough savings?

• No problem! Just pay for it with a credit card!

• You can afford what you want right now at no additional costs*!

Really? No additional costs?

Sounds amazing, doesn't it?

*Except that's almost never true, so watch out for credit card features that companies use to attract clients like you. Some of these add-ons can lead to additional costs and affect your credit ratings.

What you're attracted to:

• Bonus points

• Discounts

• Rewards

• Minimum payments

• Instant money

What you should be careful about:

• Fixed fees

• Interest rates

• Penalties for late payments

• Increasing debt

• Credit score impact

Balance due on unpaid credit card bills will grow over time! That's how credit card companies make money.

Always make sure you can pay off a credit card bill IN FULL and ON TIME!

Otherwise, you're just kicking the can down the road to your next bill (and accruing more debt).

Student Loans

Every dollar you borrow will have to be repaid with interest, so you could spiral into more debt if you don't pay them back.

Pay off your loans with recurring automatic monthly payments so you don't even have to think about it!

Subscription Fees

Monthly subscriptions for services can be sneaky and add up quick!

Subscriptions are usually set up to automatic payments to a credit card, so keep a list somewhere or it'll be tough to keep track of them all.

Debt isn't a personality trait! So don't make it a part of your personality by letting it hang around.