Credit Card Debt

A Credit Card is the most abused of all financial tools. It almost never serves its purpose…healthfun-ps.com.

The card is meant to bring the benefits of convenience and low risk associated with carrying cash. However it has brought an equivalent of a curse to most card carriers. Treat yours with respect in a self-controlled manner; it’s not your money.

Why are we having plastic money debt

• Lack of self-control is the main reason we have high debt or a credit card for that matter. Getting a credit card seems to be similar to having a “never wait until I afford” attitude. YES, you can wait until you afford any item you need and in most cases you just want. Just use the same old principle of SAVING until you can afford to buy it cash.
• The other sad reason is that we get to a debt trap because we want to keep up with the Jonses. We forget that we are unique with unique abilities. We want
to have that luxurious car, and home and still buy as much items as we want on credit. It doesn’t work like that.
• We don’t have our priorities straight. Human nature says we must get it all and the reality is that we don’t afford it all. We have limited resources and we must only live within the resources we have. Anything that necessitates spending a cent above our disposable income is what we can’t afford.
• We are too materialistic. Some of us use "pay-later" cards to buy yet another pair of expensive shoes we don’t really need; to try yet another “new in the market” perfume whilst we have five bottles of other variants; to go on a holiday we cant afford; to create false impressions of ourselves; and the list goes on.
• Finally, we have cards because we can. That’s being influenced by others’ decisions and falling for peer pressure.

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