Let’s have credit card discipline to live a debt-free life

To gain power over the credit cards, you need to “pay the full amount and on time”.


This can be easily managed if you have only one or two credit cards. However, if you have the 3rd, 4th, or even 5th card, your expense may exceed income. That is because...


  • You are confused! You do not remember what you spent on because you enjoy swiping the cards so much that the spending exceeds income. So, you are unknowingly in debt.


  • You forget the due date. Because of the late payment, you have to pay for a higher interest rate and lose financial credibility.


  • You do not know the total spending from all cards. So, it is hard to estimate the expense in advance.


  • You under-utilize the credit cards because you do not know which card offers the best value.


Actually, the above issues are not hard to deal with. You simply need to write down the due date of each credit card. Now, many applications are available to help you manage the financial issues and make your life easier. “Piggipo” application can manage many credit cards within one platform. It combines “income-expense” spreadsheet with the spending summary of all credit cards. This helps you keep track of every incoming and outgoing cent so that you can better plan the future expenditure. 

Examples of Piggipo benefits


  • It keeps all income and expense records, including credit card spending. This lets you know what kind of expense you can cut to gain more savings.


  • It gives an alert for payment due date, which helps you pay on time.


  • It summarizes how much you have to pay for each credit card and how much in total. It also calculates what the interest rate is if you make the minimum or partial payment. This helps you better plan your future spending.


  • It searches which credit card offers the greatest value for which store and recommends you to use which card to prolong the payment period.


In case of default, what should you do?

When it comes to credit cards, some of you may not have self-discipline and overly spend. You spontaneously swipe the card to buy whatever you want without checking if you have the outstanding debt. When the due date arrives, you do not have money to repay the debt but do not know how to solve the problem. The first thing you need to do is to calm down and start the debt management plan. If you are determined to eliminate your debt load, there are many solutions:

  • Negotiating with the creditor: Tell the creditor (bank) frankly which creditors you are in debt with and how much it is. Then, let the creditor know that you will not be able to pay off the debt in the future. Once aware of the problem, the creditor can figure out the solution with you.


  • Combining the debt into one place: You have many options to find the source of loan that offers low interest rate such as car or home-for-cash loan, co-ops loan, and personal loan to pay off the credit card debt, which charges 18% interest rate a year. For this method, you need to compare pros and cons of each source and be determined to get out of debt for good. Do not create new debt while having discipline by repaying debt on time. This will build the financial credibility in the future.


  • Selling assets: Try to off load yourself by dumping the unnecessary items and keeping only what you really need. For example, sell personal items and valuable accessories to pay off the debt faster.


Which method you choose to solve your debt problem depends on individual necessity and limitation.

            If planning how to use the credit cards well, you will tremendously benefit from them. On the contrary, the credit cards can be double-edged sword that destroys the life of those who do not have financial discipline or overly spend.


            Now, it is up to you whether you will have credit card discipline and live a happy life or enjoy swiping the credit cards until you are suffered with the overwhelming debt. Which financial life you prefer is totally up to you. Do not forget that the credit cards do not cause you debt but your spending habit does.