Many people are feeling the effects of a sluggish economy. Trying to make ends meet is a daily challenge in a lot of cases. One strategy to combat some of the financial stress is the creative use of balance transfer credit cards. The following are a few of the many scenarios where this tactic may be of some help to the consumer.

First, it might be a good idea to decide which type of card suits one's situation. There are plenty of companies that have promotional interest rates that might be as low as zero percent. However, that introductory interest rate may only last for a few months. Other offers may be at a slightly higher rate, but may offer that rate for a longer period of time.

Paying off one's debt at a faster rate is one of the main arguments in favor of transferring balances. During the promotional interest period, depending on the rate, most or all of what a consumer pays goes toward reducing the debt. Responsibly utilizing this type of card may result in paying far less interest in the long run.

Lowering one's overall monthly payments is another potential byproduct of this approach. This may help a consumer make ends meet during time when income may take a dip, for example. One might consider doing this in advance of anticipated slow work periods, and then increase monthly payments when the busy work season resumes.

A one-time large purchase could be another indirect use of a card of this type. Perhaps one has a card that offers certain incentives or points for large purchases. Using that card to buy a big ticket item and then transferring the debt to another card could result in point accumulation and easier monthly payments.

Some people have been dreaming about taking a special vacation, but the anticipated expense of it may have been holding them back. One way to make the dream come true is by charging it and then transferring the debt to another promotional card once the vacation has taken place. This is a similar approach that one might use with the big item purchase.

These are just a few of the many uses of balance transfer credit cards. One should probably examine one's financial situation first, and then apply the strategy that fits best. But these cards, if used responsibly, can help one manage the personal budget with a little more flexibility and a little less stress.