Do you get jitters thinking about credit cards? Does spending on your cards make you feel like you are doing something wrong or financially unwise?
Credit cards are just one way of spending money. They are a tool, nothing more.
One of the mistakes people make when thinking about credit cards is the thought that Credit Cards lead to Debt Problems.
This simply is not the case!
Credit cards don’t get people into debt, people do.
Yes, people have fallen foul of debt problems, but that is a symptom of bad spending and bad financial management. Unfortunately for some people, credit cards make spending money easy, and while for most of us this is a good thing, perhaps some people need that cooling off period between the store and the ATM.
If you are worried about your family or yourself getting carried away at the checkout, what can you do?
Well for a start you can set your credit limit to a sensible level.
Secondly you can make sure your repayments are set to pay off the whole balance or at least a good portion. As you learn to manage your spending and you train yourself to keep the balance low, you can relax the rule.
Finally keep tabs on your spending, ignoring how much you are paying on the card is how spending gets away from you.
Most people would agree, the convenience alone of cards makes them worthwhile to keep around, you just have to keep your brain in charge, not your shopping gland!