Top Five Things You Should Avoid Charging

Wyatt Earp wouldn't stand a chance against today's credit card user. We can whip out plastic must faster than he pulled his Colt 45. Flicking out the plastic is a habit of convenience and it can also be a nightmare in the making. Credit card purchases can have you singing the blues while still paying for things that are long gone.

To paraphrase what a friend once said after coming home with loads of groceries, "I just spent $300 for the sewer." That was the censored version. But, if you're a good money manager with a 720 or higher credit score, this article is confirmation of your greatness and how well you've got it under control.

For those who have seen their credit score decline sharply, it's often due to credit card purchases that exceed 70% of the card limit. And, if you're the person who usually makes the minimum payment, you are throwing money away on interest to an undeserving financial institution. Avoid being lured by points and rewards. Plan your vacation early and pay off the trip before you take it.

Nothing can get you into trouble faster than charging the five things listed below. It can be frustrating to continually pay for something that perished almost as soon as it was purchased. Cash or debit purchases are recommended.

Here are the top five items that you should avoid charging.

Gas

With gas prices soaring nearing out of this world these days, you'll find yourself piling up an unpaid balance that may be difficult to keep up with. Try half cash and half card until you can wean yourself off the card. Ride sharing is a good way to cut back on buying gas.

Eating Out

Are you really willing to pay interest behind that big headed guy with the pointed nose named "Jack" or his namesake whose last name is "Daniel?" Charging an occasional four-star meal is deserved, but when you get your statement you may not have any money left for a stiff one. Recall the aforementioned sewer comment?

Hair Styling

It would have to be a pretty super cut (pun intended) to put it on the credit card. Your hair will only look that way until tomorrow. Then, you have to spend more money to maintain 75% of the original look. You get better shop gossip when you pay in cash.

Christmas Gifts

You still owe Santa from two Christmases ago, so why would you go for a third? Shop earlier in the year as you generate available cash to pay for gifts and to catch good sales. Stash the gifts in your secret place until the holidays come around.

Cash Advances

The interest that you have to pay on cash advances should be against the law, and you should be committed to the state hospital for doing it. Emergencies are understandable. Fun and frolic are good friends of bad credit.

Consider these words from a wise old hard working consumer, "if you have to charge it, you probably don't need it."