#7. Don't keep more that two credit cards.

The biggest reason for this two card rule is that it is easier to keep track of possible errors and current interest rates with no more than two cards. Some credit card companies will increase your interest rate without prior notification. You must look at your statements each month and inquire about any discrepancies.

#8. Always mail your credit cards bills at least seven days prior to due date.

Currently, credit cards companies are allowed to charge a maximum of $29 for late fees if bill is not paid on time. With delays in mail and processing time once bill reaches credit card company offices, you need at least 7 days to be sure it is posted on time.

#9. Always protect your credit card numbers from others.

Be sure that you don't allow unauthorized people to see your credit card numbers. It is very easy to use someone else's credit card, as stores are very lax in their security of handling credit cards, seldom checking to see if signature on back of card matches one on credit card form. Never give your credit card number over phone unless you know who you are talking to.

#10. Don't use credit cards for groceries.

Buying things like groceries with a credit card, unless you pay card off each month, is a no win situation. Buying recurring items like groceries will only tend to increase your credit card debt each month.

You may even want to use your crisis fund for bills or expenses that you know will be due in future. A few examples of this could be school clothes for kids, insurance payments that are due every three, six or twelve months or even a balloon payment on your mortgage.

One of major reasons to have a crisis fund is to prevent use of credit cards. All of purchases you would make with a credit card could be made out of your crisis fund. With average credit card interest being 18% or more, just having cash available could save you hundreds of dollars a year.

If you don't think you have money for a savings of any kind you might want to think about ways of cutting back on something else to creat a crisis fund. If money is extremely tight, you will probably have to put off starting a long term savings.

Even putting $5 or $10 a payday away will help when you need it.