Can Knowing How You Got In Debt Help You Get Out?
Wednesday, October 28th, 2009 Subscribe To Our Feed
Most all of us have been in debt one time or another. Is that bad? Not necessarily. But if you have more than 2 credit cards and pay only the minimum payment due or worse, use another card to pay it…You are in trouble.
How did we get in trouble? Maybe you got one of those mailings after graduation that offered to “Help you build your credit”, remember you can build GOOD and BAD credit.
I only got it (them) for emergencies. I know that new leather coat was an emergency… Really? What does having an emergency have to do with a credit card? Most emergencies can be handled over time, without using a card. P.S. Why do you carry it (them) with you then?
I got mine to transfer my old balance to a much lower (for a while) rate. OK – Why is there a balance? Why do you still keep the old card in your wallet or purse? Come on now.
I can’t live and operate in this world without a credit card. Everywhere uses them. I personally have found you CAN live without a card(s). They came up with something a long time ago called CASH… it still works well. Checks are still accepted at most larger companies.
OK, not having a card makes ordering stuff on the internet hard/impossible. Then use a debit card from your bank that’s tied to your checking account. It works just like a credit card and is safer to use. I use mine all the time on the net and “Out in the World”, without any problems. This is not credit; it comes from your checking account. If there is no money in the checking then you can’t afford it. Thank you, debit card.
Here lies the problem. “If you have to use your credit card or sign a contract…you can’t afford it yet.” But it’s on sale; I’ll save so much money. Great, it will be again soon and it will cost you less, because you won’t have to pay interest on the cash purchase.
I have to have a credit card to survive, is only an excuse to get something you want but really can’t afford. Be honest with yourself, you know that’s true. We got in because we were greedy and selfish and we paid the price. Nothing nice to think about, but true.
Get out of debt and stay out. Pay as you go, it really is cheaper. The only cards you should have on you, are – Your debit card, your Paradise Bakery affinity card and your library card. Follow this advice and you’re set for Financial Freedom.
“If common sense is so common…why is there so little of it?”
To read more “Rantings from a retired Financial Planner” go to http://imaginedebtgone.com
To read some great ideas on getting out of debt go to http://getoutofdebtreally.com
Go There NOW!
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