Things to Ask Yourself Before You Swipe that Credit Card
To Swipe or Not to Swipe that is the Question of Our Time
And when you do, you are most likely to be asked: "Paper or plastic?" Of course this is just to find out if you want your purchases inside a paper-bag or a plastic one.
But our generation has also been asked one more question before that, and it is normally "Cash or plastic?" Plastic here of course means your credit-card.
Now you may want to ask yourself a few things the next time you swipe your handy-dandy credit-card or better yet before you wave it. Oh, and they just make it so easy now to take your money.
#1. Are you planning ahead about your Financial Future?
If you have thought about it, then you may want to see if you would care to live within your means first or at least be sure that you're able to pay for that credit-card purchase on its due date.
If you're not then by all means swipe away, tomorrow's a long way's ahead anyway.
#2. Are you planning to purchase a Big-Ticket Item (a house, a vehicle, home appliances or something expensive) you have dreamed of having for a long time?
If yes, then you may want to see if you not being able to pay for your credit-card purchases today will backfire on your big-ticket dream-purchase later on.
If you want to see your dream come true, then swipe only when you can afford it.
#3. Are you planning to live like nobody else in your golden years or you want to live your dream now and plan to die young?
If you want to have something to live off later on, avoid over-exercising your swiping-hand but instead focus on having a working-budget, keeping it and include something to save for the future.
If you plan to die young then swipe away.
#4. Can you afford to be in debt and stay in debt all your life?
I am pretty sure, this one hasn't crossed your mind if you're still on a credit-card swiping overload. Now if this hasn't happened to you yet, it might just be what's ahead for you in the foreseeable future:
• You will constantly be paying at least the minimum credit-card payment due each and every month until eternity and you'd never see a dent on your ever-growing credit-card debt, like the rest of us who have gone overboard ahead of you.
So beware.
Published by James Prince
James is a fusion of the East and the West, the Old and the New World, and most everything else in between. He got his early education at an exclusive all-boys school and went on to receive further studie... View profile
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6 Comments
Post a CommentHello Mariely, that's right. And that was the motivation for this article. Thanks!
Hi Brian! Thanks!!
Hello Katrina, that's the way to go, pay as the bill comes. Thanks!
Good point James! Good thing to let people know about the possible consequences of the indiscriminate use of credit cards.
James...Great article. Your off to a good start. Keep it up!
I always pay my credit card balance in full when it comes in. I do however find that I spend less money when I use cash.