Think before you Swipe your Credit Card
It is tempting to use your credit card for every purchase ranging from gas to new clothes and much more. But before you swipe your credit card you should think twice. Do you know what you are doing? If not, you should step away from the counter and put your credit card back into your wallet. Believe it or not, many people use their credit card uncontrollably and never think of the repercussions until they receive the statement in the mail.
What is wrong with using a credit card? Nothing at all if you are responsible. There is no reason to shy away from credit cards if you are smart with your money. But on the other hand, if you are irresponsible and continually get yourself into credit card debt there is definitely something wrong with moving down this path once again.
The benefit of a credit card is that you can quickly and easily buy whatever you want, as long as it is within your limit. On the downside, you need to pay this money back soon enough. Unlike cash, when you pay with a credit card the purchase is not complete. At some point in time you will be asked to pay the money back. To go along with this, credit cards often times have high interest rates that increase the amount of money you owe. So that $500 gift can easily turn into much more over time.
Even though it is easy to swipe your credit card, this is not the best choice for every purchase. Only use credit cards if you are responsible and willing to pay the money back before finance charges accumulate.
October 30th, 2008 at 12:55 pm
[…] Think before you Swipe your Credit Card It is tempting to use your credit card for every purchase ranging from gas to new clothes and much more. But before you swipe your credit card you should think twice. Do you know what you are doing? If not, you should step away from the counter and put your credit card back into your […] […]