You know, most Americans are swimming in a pool of debt. While I am one broke ho, I actually don’t have much debt to speak of…which is convenient since I don’t have much money. Okay, ANY money. The credit card companies make it seem so easy to have everything that you want for seemingly nothing. Most folks don’t read the fine print. They want what they think is a free ride to material goods town. Stop and think. Nothing is free, peeps. In order to get a handle on your finances, you’ve got to understand how credit works. Ideally, you will need to carry a balance on your credit cards in order for the companies to make money off of you. They’re basically extending to you a loan. They’re gonna charge you interest. If you pay your balance off every month, you’re sorta screwing them. They don’t like that. They like for you to have just enough to remain in debt.
Do what you can to educate yourself and get the right information.
I know someone who is over 35K in debt. Just from credit cards. That is nuts! Sure, she’s got all of the best clothes, shoes, jewelry and the like, but damn, man…how important is it to have Christian Laboutin shoes when you can’t afford to buy groceries? Crazy. She’s working just to keep the credit folks off her back. Debt consolidation may be her way out, I don’t know, but it’s worth doing the research.
Get the information to arm yourself appropriately, guys.
We all could use debt help so get yourself together. Educate yourself. Don’t be fooled by the come-ons that you get in the mail. If you can’t afford something, you can’t afford it.
I learned a great lesson from my Dad. He never used his credit cards. He paid for everything with cash. We bought our cars, took vacations all on cash. If he didn’t have it in his pocket, he didn’t get it.
The credit cards were used primarily for business transactions. He paid them off quickly. Here’s the funny thing, though. The same man who did this, didn’t help me with my credit cards. He told me he would. I had to learn the hard way.
Don’t fall prey to the enticing offers. Get what you can handle, ya dig?