Quote:
|
Originally Posted by Rummey
Congrats on paying off your debt!
I have never had debt and do not have a credit card. However, I imagine I will some day. Do you have any lessons that you specifically learned about how to stay out of the cycle of debt? The answer seems obvious, but I imagine a lot of people hear the good advice, and try to live by it, but still end up finding themselves in debt.
Mike
|
I think that like a lot of things, nobody ever really learns the lesson of credit cards until they have been in trouble with them.
The way to stay out of trouble is to never use them. Of course, this isn't really realistic since unforseen emergencies, trips, etc. always come up. I think the trick is to only use your credit cards in these special cases. Don't use them as a substitute for cash becasue this is when you get in trouble.
You use them one day to go out with friends, swearing it is a one time thing and you won't use it any more, but three days later you forgot that you used it a couple days ago and charge your groceries on it. By the time you bill arrives, it looks hopeless. Then you get the attitude that since you are so far in debt already, you might as well charge another meal to your credit card, because another $30 isn't really going to matter anyway. And the evil downward spiral continues.
Bottom line: use your cards only in emergency situations, and NEVER treat your credit card as a substitute for cash.
And pay off your bill every month.