“Help! I moved out of my parents’ house six months ago, and I’ve run up balances of over J$90,000 on three credit cards since then. I had to buy things for my apartment, and I think I went overboard. I can now only afford to pay a few thousand dollars every month on the cards, and seems like it’s taking forever to reduce the balances. What can I do?”

You’re not alone in your credit card crisis. News reports have indicated that credit card use in Jamaica has grown significantly in recent times. The resulting increase in credit card debt has left many customers feeling desperate for solutions to get rid this seemingly endless liability.

Credit cards are not necessarily bad- they can be an extremely convenient way to pay bills, or to provide funds in the case of a sudden emergency. However, a credit card can be like an out-of-control racehorse who has thrown its rider, if proper money management skills are not used along with this convenience. Continue reading Credit Card Crisis →