Overspending is a problem for many Louisiana consumers, and they often use their credit cards for purchases that may not be necessary. It’s easy to swipe a card or buy something online, and the impact of these choices may not be fully apparent until the balance reaches a point where it is no longer manageable. Even when making minimum payments, credit card spending can lead to financial problems.

Curbing spending may be the key to getting credit card balances to a more manageable level. One way to do this is by carefully monitoring online purchases. Don’t keep credit card information stored on sites, making it more difficult to purchase something with one click. If necessary, avoid certain sites and buying things that are not absolutely essential.

Another step that may prove helpful for some is to carry cash for certain purchases. Limiting spending to what can be bought with cash on hand can help consumers eliminate unnecessary purchases they may be tempted to make. It’s more difficult to spend cash, and the physical act of handing over money to a sales clerk can give someone a more accurate picture of his or her overall spending.

Credit card spending is one of the many reasons why a Louisiana adult considers filing for bankruptcy. Chapter 7 bankruptcy allows for the discharge of certain types of unsecured balances, including credit card balances. Bankruptcy is not always the most optimal choice for everyone, and this is why it is helpful to seek an evaluation of the individual case before making any important financial decisions.