New Delhi, Feb. 20 -- Credit cards can be a convenient way of acquiring money, with the possibility of paying for things in a while. This instrument of payment comes in handy when one is short of cash. But if used in a careless manner, they can lead you to debt and financial ruin.

Here are five ways to use your credit card wisely and not fall into debt traps:

Keeping an eye on your spending on the credit card is important to prevent you from spending more than you can. Monitor your spending to avoid splurging. Keeping things simple and being completely aware of all the developments with regards to your spending is very important. You can also limit the spending on certain types of purchases to prevent you from overspending.

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