Sabotaging Your Own Credit Card Use

June 1st, 2009

headacheSome people, for one reason or another, seem to unwittingly sabotage their own finances.  I’m pretty sure you’ve seen it – folks who seem to do exactly the wrong things when it comes to wisely looking after their financial success.

Look at many people’s credit card behaviors and you can see what we’re talking about.  In fact, the reality that so many people are experiencing major problems with credit cards doesn’t surprise me at all – the signs have been glaringly noticeable from the start.

Credit cards are intended as a financial convenience, not a source of liquid funds or a comfortable loan.  Having a credit card doesn’t mean you can finally afford a 50-inch TV which you couldn’t possibly handle paying for before.  It doesn’t mean you can take vacations that are well beyond what you can pay for.  Simply put, it doesn’t give you permission to consume items conspicuously.

As a society, we really do have to start looking at credit cards in a healthier manner.  Instead of thinking of all the things you can purchase using your credit balance, focus your attention on how much easier credit cards can make your usual purchases.  Rather than having to carry cash every time you leave the house, you can simply bring your credit card along and know that you can pay for any expenses that you need.  At the end of the month, the same amount of money that you would have spent should go into settling the amount you incurred on the card, instead of letting the debt pile up.

Any other way of using credit cards, unless carefully planned for, usually leads to self-sabotage your financial capabilities.  Don’t let the tempting allure of “buy now, worry later” suck you in.  Use your credit card responsibly.

noel Posted in Credit Card Guides

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