Not being able to pay your ICICI credit card app bills regularly will create massive problems for you. Yes, it will drastically lower your credit score, but it also decreases your financial credibility, which is quite important. 

Being stuck in credit card debt is awful, and it is tough to get out. However, there are a bunch of things that will help break the cycle of debt and be regular with your payments.

Here is a list of a few:

  • Create a Monthly Spending Plan

To break the cycle of ICICI credit card payment, you need to have enough funds in your savings account every month to be able to pay the bills. To achieve this, you must create a proper budget or spending plan.

Start by calculating how much money you are earning each month, and then calculate how much you spend on essentials, entertainment, travel, bills, and more. Keep a separate section for the bills, and if the money is falling short on it, cut corners from the other sections. 

Also, this helps to save a significant amount towards the end of every month. If you face trouble creating a budget, you can take care of a budgeting UPI app on the internet. 

  • Consolidate debts you already have

If you have multiple IndusInd bank credit card payment bills coming in each month, there is a chance that you are paying a high amount of interest. To avoid high-interest rates, take a personal loan at a lower interest rate. You can then use the money to get rid of all existing bills and debts.

Doing so will reduce the total number of monthly bills and will contribute significantly to reducing the interest rate. 

Always go to a platform that provides a personal loan with a fixed and low-interest rate, a pre-decided monthly payment, and a set repayment period.

  • Additional Earning Opportunities or Side Incomes

Sometimes, it can be a challenge to manage the monthly expenses with the incoming ICICI bank credit card payment bills. Suppose you are facing difficulty managing all the expenses with your current. In that case, you have to look for additional ways to earn.

Set up a side gig or do freelancing on weekends. Taking a part-time job on weekends can also help you make those extra bucks to help you stay within budget and not miss paying a credit card bill. 

  • Emergency Fund

Building a budget will help you save money; the saved money can then be used to build an emergency fund. This will help to get money when you are falling short on balance to pay the monthly bills.

Also, having an emergency fund can help you stay out of debt once you clear the existing ones. Start by putting in small savings, and with time, increase the amount according to your convenience. 

Conclusion: The Bottom Line

Regular payment of credit cards through UPI or other means is vital for your financial journey, and falling into a credit debt cycle will only derail it. Create a spending plan and a lot of separate funds for credit card bills. This will also help you establish an emergency fund. Remember, if the money is falling short, consider getting a side income.