Many people today are having trouble with the economic conditions at the time of this article. Some have lost their jobs and many others live in fear of losing the jobs they currently hold. I think it's fair to say that many people are right on the edge when it comes to being able to pay their bills on time each month.

It appears that many of us have gotten away from many of the values our parents taught us like not using credit cards and paying cash for things you purchase or going without. I know my parents taught me to save up if I wanted something rather than simply using a credit card and figuring out how and when to pay for it later. I must admit when you do that you certainly take better care of the item you have worked so hard for. You appreciate it and more and really scrutinize your purchases. It's amazing what you decide not to buy when you really think about the hard work involved in paying for it long term.

I have fallen guilty like many others of using those dreadful credit cards. Have you ever noticed that when you can pay them off they give you interest rates so low you almost can't rationalize not taking advantage of the credit offers. The problem is that when things get a bit tougher financially they jump the interest rates up by 10% or more, which makes life even harder. It sure would be nice if interest rates would go down on credit cards when your finances got tight wouldn't it? I think we can all agree if we followed the lessons of life that our parents and elders taught us we would be better off for it. Hindsight is always wonderful.

I recently noticed that the government was debating laws to prevent credit card companies from raising rates and taking advantage of people during the current economic crisis. It such a farce, because they were proposing legislation that they would not be enforceable until 2010 or 2012 as I recall. What good does it do to pretend to prevent them from raising credit card interest after a few years when all they need to do is raise them before that date so they can avoid the law. Who are they protecting? It sounds like they are trying to protect the credit card companies rather than the people who voted them into office.

I talked to a friend the other day and was informed that she had over $35,000 in credit card debt and rising. I believe I heard on the news that the average credit card debt in the United States is between $30 $50k. We have really gotten away from the good old American values that our parents taught us, but we can change if we want to.

I personally long for the day when I can get back to the values that were taught by my parents and have no debt. One day I hope I can reach that goal again. Here are a few tips that I know of that will help get someone on the right track.

1.Pay off credit cards with the highest interest rate first.

2.Do not open any new credit cards.

3.Close higher interest rate credit cards once paid off.

4.Check to see if you credit card company will give you a better rate.

5.Call to see if annual fees or over limit fees can be reversed.

One last important factor is that many credit card companies are required to send you a notice advising you of the rate increase. You can tell them that you do not want to pay the higher interest rate and they will more than likely accommodate you providing you close your account and do not use the cards again. Please feel free to read both this article and one of my many others by visiting my link in the resource box below. I always enjoy getting emails pertaining to my articles or my site. Your feedback is important to me.

Enjoy the journey to becoming debt free!