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  • Will You Add? - Our Painful Secret: Credit Cards Debt

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    Credit card companies know this and you should too: people who

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    First, stop using your credit cards. Credit cards are great because they give us flexibility. They allow us to get whatever we want whenever we want it. But that's where the problem comes too. We buy things we can't afford. We take vacations we shouldn't be taking. We eat out more than we should. More than anything we spend more than we should on every single purchase using a credit card.

    Re-read that last sentence. I know you don't believe it, but it's important. It's why your bank encourages you to use your debit card. It's why your credit card company ups your limit when you are already in debt. It's why you get so many solicitations in the mail offering you a new credit card.

    Credit card companies know this and you should too: people who

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    , but how can we get out of it? Here are two simple ideas:

    First, stop using your credit cards. Credit cards are great because they give us flexibility. They allow us to get whatever we want whenever we want it. But that's where the problem comes too. We buy things we can't afford. We take vacations we shouldn't be taking. We eat out more than we should. More than anything we spend more than we should on every single purchase using a credit card.

    Re-read that last sentence. I know you don't believe it, but it's important. It's why your bank encourages you to use your debit card. It's why your credit card company ups your limit when you are already in debt. It's why you get so many solicitations in the mail offering you a new credit card.

    Credit card companies know this and you should too: people who

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    whenever we want it. But that's where the problem comes too. We buy things we can't afford. We take vacations we shouldn't be taking. We eat out more than we should. More than anything we spend more than we should on every single purchase using a credit card.

    Re-read that last sentence. I know you don't believe it, but it's important. It's why your bank encourages you to use your debit card. It's why your credit card company ups your limit when you are already in debt. It's why you get so many solicitations in the mail offering you a new credit card.

    Credit card companies know this and you should too: people who

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    ould on every single purchase using a credit card.

    Re-read that last sentence. I know you don't believe it, but it's important. It's why your bank encourages you to use your debit card. It's why your credit card company ups your limit when you are already in debt. It's why you get so many solicitations in the mail offering you a new credit card.

    Credit card companies know this and you should too: people who

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    dit card company ups your limit when you are already in debt. It's why you get so many solicitations in the mail offering you a new credit card.

    Credit card companies know this and you should too: people who use credit cards have debt. You spend more on your credit cards than you do when you spend cash. Stop using your credit cards and you will save money.

    Second, set a budget. I know, you're an adult and you should have every right to spend your money how you see fit. Then why do you fear those three words (credit cards debt)? You fear them because you don't have a budget and you spend beyond your means. That's the cold hard truth. More than three-quarters of people who are in debt are in debt because they spend too much money (other reasons like medical bills and loss of a job are relatively rare).

    Overcome your fear of these three words: credit cards debt. Stop using your credit cards and set a budget.

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