Credit Cards - Debt's Lapdog
Its not that people aren't learning, its just there is no way we can help ourselves. There they are, credit cards - easy to obtain and so easy to use its virtually impossible to even think about cash. We all have them, we al need them - and we all need to learn how t use them correctly then follow through on that education. Which we don't do, which we will never see and which will forever lead to the demise of credit and debt destruction.
Credit cards don't cause debt, people! People cause debt!
No one is pointing a knife into your gut telling you to use credit cards at any cost - but thats exactly what seems to be going on. We know the costs, we know that high interest rates are bad and that revolving credit is a death-knell for stable personal finances ringing greater and greater amounts of debt. How do you ditch this debt? You ditch your credit cards. You go right to the source, take a deep breath and jump off that cliff into cash oblivion.
What in the world are we talking about? Simple - we're talking about credit card abstinence. Not just keeping yourself to a single card and below the limit - that just doesn't happen, if we have the card we're going to use it, its only human nature. But, when we completely eliminate credit cards from our life we are forced to deal with financial situation with our own power, our own income and cash. But there are risks:
- For starters, your credit score depends on the use of credit - take away credit cards and the only way to prove your credit worthiness is through loans, and a lot of people might be intimidated and unable to handle such high cash amounts.
- You will also lose that fool-proof escape mechanism for any financial emergency. Get stranded, get lost or find yourself in an emergency and where once you had those bad credit credit cards you will have nothing.
Credit cards - we depend on them as emergency tools and a means to establish ourselves in the greater financial world, a world many of us do not understand. So can the benefits of eliminating these cards form your life overcome the disadvantages of not having them in your life? Only you can make that call, but if you're serious about Ditching Debt you will want to consider such eliminations.
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