I was eighteen when I received my first credit card – I will never forget it; it was a jewelry store card. I desired to get my first credit card and start building my credit, especially since I was working. At first, I was rejected by quite a few banks because I didn’t have enough credit, but eventually, they started rolling in. However, through the years, when I began to receive them – Visa, Mastercard, American Express - I felt freaking awesome to have them.
I began endless shopping. I bought things that I wanted but did not necessarily need. All I knew was that I could purchase and use my card by swiping my magnetic strip! I was also living from paycheck to paycheck and yet found myself digging a hole I would later regret. I also realized through the years that I was not living at all. Why? The endless paying-back for credit card bills started, and I found it painful because the speed I spent was quicker than the speed I earned. How many of you have experienced this? Are still.
A controlled expense plan can and will benefit you in the upcoming future. You ask, “How?” Try asking yourself the following questions when you buy something with credit: If you answer any of these questions with a “NO,” it would probably be best if you do not believe.
Do you need it?
Do you honestly like it?
If the answer is “YES,” then ask yourself a few more other questions, such as:
Will you still need it a few years from now?
Will you still like it a few years from now?
I learned that credit cards can be terrible for your financial health if not handled properly. We tend to drown ourselves in the ocean of “wants” rather than in what we actually “need.”
The other solution, outside of asking the questions above – is to educate ourselves and those around us. It would be wise to educate ourselves and others on:
Financial self-management or managing finance
Dangers of credit cards
Saving and spending
Getting into these habits can ease our minds and help others live more enjoyably – having fewer concerns and worries about our finances.
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