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Heard that I can't use credit cards when I'm in a debt management plan. How will I pay for the unforeseen expenses? I don't have an emergency fund.




You have heard it right.

Start building an emergency fund. Lead a frugal life to save money. Make it your goal to save 10% of your monthly income every month.

Sub: #1 posted on Wed, 01/31/2018 - 16:19

ditchdebt ditchdebt

(Posts: 665 | Credits: 253.81)

You have to create an emergency fund out of your paycheck. As ditchdebt suggested, try to save at least 10% every month.

Sub: #2 posted on Wed, 01/31/2018 - 19:06

tiarajoseph11 tiarajoseph11

(Posts: 317 | Credits: 44.37)

It's high time you learn to live without credit cards. It is true that credit cards are good but, first pay off your debts and then start managing cards efficiently.

Sub: #3 posted on Thu, 02/01/2018 - 18:46

Good Nelly Good Nelly
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(Posts: 2668 | Credits: 533.16)

plan a budget first and set aside money. Cut down extra expenses. It will help you to build an emergency fund. Don't use credit cards to overcome an emergency. It is a mistake.

Sub: #4 posted on Fri, 02/02/2018 - 18:59

sanderspatricia29 sanderspatricia29

(Posts: 683 | Credits: 71.47)

You can sell unused items to have extra cash. There are ways to earn a side income too.

Sub: #5 posted on Fri, 02/09/2018 - 18:13

Mabelle Page Mabelle Page

(Posts: 161 | Credits: 15.88)

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