Quick Tip

Tips to watch your spending, credit card debt as pandemic restrictions loosen

ByJason Knowles and Ann Pistone WLS logo

Sunday, May 23, 2021

Tips to watch your spending as pandemic restrictions loosen

The weather is warming up and you may be ready to spend more money, as pandemic restrictions loosen. But Consumer Investigator Jason Knowles has the quick tips so you can also watch your wallet.

CHICAGO (WLS) -- The weather is warming up and you may be ready to spend more money as pandemic restrictions loosen, but you also want to watch your wallet.

Lending Tree says a recent survey found that 47% of Americans plan to go into debt this summer as they spend more on travel, clothing and eating out.

Experts say before you start spending more again, you should revisit your priorities since many may have changed during the pandemic.

Look your budget over again. Write down what you plan to spend on entertainment;

Also take action to reduce your debt. Consider a zero-percent balance transfer to a card to automatically reduce your interest you may be paying;

Try to call your current credit card company and ask them to lower your card's interest rate. Most people may not think to do this but Lending Tree says 80% of people who do ask are successful.

For more tips on how to reduce your debt, visit LendingTree.com.

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