I think each one of us is well aware of what an advantage it is to be able to just carry around a few credit cards instead of worrying about getting out enough cash or carrying a dirty check book. Even merchants should be thankful for credit cards, because they don’t have to deal with bounced checks. Add in the miles you can get from credit cards and they are well worth your time. I think we all know these advantages, but credit cards are changing every day. Take a look at some credit card news to see how crazy the credit card industry is. It’s huge and the credit card companies are the big winners. The credit card holders are the big losers.
Let me give you some credit card advice. Do NOT EVER pay interest on a credit card. Do not EVER pay a late fee. Do not EVER EVER EVER pay an annual charge. If you follow these three rules then you will love having a credit card because it will provide you a lot of convenience and will also provide you with some added benefits in the form of miles, points and a great credit rating when you might need to buy a house or something important like that.
I know that many may say that these three rules are unreasonable. All I can say is that it’s not if you plan well. the first one may be the hardest to follow. Although, I only have one suggestion. Live within your means. I guarantee you that I could help each one of you find ways to reduce your budget and save money so that you could live within your means. By doing so you won’t have to worry about paying interest. In fact, in many cases you can start earning interest. Then, you are the one with the power. I know the world tries to tell you that you can have what you want now if you just use credit. Well, ignore it, because all credit really is is giving you what you want now, rather than waiting.
I can’t tell you how liberating it is to not have any debt and it’s powerful to actually have money in the bank.
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