Always follow the 20/10 Rule of Credit. Never borrow more than 20% of your annual net income, and never let your monthly debt payments be more than 10% of your monthly net income.
Know the difference between needs and wants. Before making a purchase, ask yourself, "Do I really need this?" You can lower your monthly expenses by avoiding purchases you don't actually need.
Always try to make more than the minimum payment due on your credit card bill. Low minimum payments are designed for convenience, but not for quick payments of your balance.
Never let your credit card reach its spending limit. Always keep part of your credit available for emergencies and other unplanned expenses. Maxing out your credit cards can also be perceived by lenders as a negative on your credit report.
Know what your purchase will really cost. Remember that, if you charge a purchase to your card and don't pay it off right away, you'll end up spending more than the original price.
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