Probably the last thing that any of us are thinking about right now is the procurement of another credit card. After all, with the country in economic crisis and our financial options seeming to dwindle before our eyes, we are all looking for ways to hunker down and stay as financially solvent as possible. But there are some decisions to be made for sure; and the fact is that some of us are paying way too much for things that we could be saving on and controlling our spending much more effectively.

Consider for example all the money we spend on a monthly basis on our utilities and cell phones – both of which are often associated with sometimes exorbitant fees that aren’t even explained properly. How many of us have signed up for special “packages” through our cable companies only to be overcharged each and every month – nickeled and dimed by charges we didn’t even know existed? How many of us are continually updating our cell phone plans because the packages that the cell phone companies promote are never really what they say they are?

Just like when it comes to our healthcare, when it comes to our finances we need to be our own advocates. We need to be warriors at protecting our pockets and protecting our credit report. And often this means going through each and every monthly bill to see where we can save money and where we are being overcharged. It is tough work but it has to be done if we are to stay in financial control in the long term.

One of the places that is notorious for overspending is credit card fees. We may think that our interest rate is such that we are getting the best deal that we can; but then, before we know it our interest rate has been increased, and fees appear that we didn’t know existed. That’s why it’s so important – especially now during this economy – to compare credit cards; something that we will continue to explore in the next post.

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