Americans are using their credit cards to buy
everything from sodas from machines to hamburgers through the
drive-thru. They are often purchasing the basics, such as food and
utilities with their credit cards.
And I'm not talking about those who are
going through major life changes that require an emergency plan, such
as a death in the family or other one-time events. I'm talking about the
people who make "I don't have the money right now, so I'll just charge
it and pay later," their mantra.
I understand tough times. But you have
to realize that by using your credit card to buy food and pay bills will
actually create more bills for you, not less. You are actually hurting
yourself more.
Emergency repairs and medical bills are
often necessary. But you should never buy groceries or pay your
children's tuition with a credit card.
When it comes to food, there are ways
to find it. You can simply eat what is in your pantry until you run out.
You may not feel like another can of peas tonight, but honey, it's
free. You already have it.
And if you can't make ends meet, you
don't need to be paying for your child's tuition with a credit card.
There are grants, student loans and jobs that the child can find out
there. A credit card to fund college is not a good idea at all. You
shouldn't but yourself in that kind of debt for your child's education.
And he or she shouldn't either.
Using credit cards as something to fall
back on when you don't have anything else isn't a good idea. You become
dependent on them. You learn that they are there just in case, and this
is a good time...
I know that there are times when you
have nothing else you can do. That is why an emergency fund is so very
important. My husband lost his job recently and we went two months
without a paycheck. We didn't have to put one thing on a credit card
because we were prepared.
You have to learn that credit cards are
really dangerous ground. They encourage you to spend, spend, spend in
the hopes that you can't pay on time. Then they raise your interest rate
and charge you late fees.
Get out of credit card debt. It will cost you too much.
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