Thursday, July 28, 2011

Credit Cards...Just say "no"!

Hi Girls,
I'm in a weird mood...well, to be honest, I'm ashamed in myself.




When you girls start getting offers for credit cards, take awhile to think about it. Ask yourself;

  1. What will I be using it for?
    • If you say "emergencies", then everything turns into an "emergency"! 
  2. Am I the type of person to spend money as soon as I get some?
    • If the answer is "yes", then a credit card is not for you! It's instant money.
  3. Would I normally buy this if I did not have a credit card?
    • Usually the answer is "no."
  4. If I buy this, will I be able to pay it off? / If I continue to use the card, will I be able to pay it off?
The last question is one I never really thought of. At the time I was 18 years old, and was so excited to have my first credit card. I had a job at the time, but when I went to college, I didn't stop, think, and realize that what I spent, I now could not pay it off because I was unemployed. 

Four years later, I have three credit cards (including the one I opened when I was 18), and I still am paying off the items I bought 4 years ago! (which I probably don't even wear/have/use anymore!) I am 22 years old, and $2,000+ in debt in only 4 years of having credit cards. 

Yes, we all need credit history to (eventually) buy a car, house, apartment, etc. But, there are better ways to build that credit! 

A credit card is fine if you buy little things here and there, but only if you can afford to pay it off when the bill comes. Their also fine when there is 0% interest, which means there are no fees, the longer the money sits there and you don't pay it all off. But, when that 0% offer runs out, they attach fees onto the payment, your making. 

HOW AM I SUPPOSED TO PAY OFF THE CARD IF THEIR PUTTING FEES ON MY PAYMENTS?! It's a crazy world. 

So, here is my pledge;
I, Jessica (Insert Last Name Here), will not buy things I do not need, (and when I say need, I mean NEED!). I will also, pay more than my minimum payment amount each month. When I am able to completely pay off a credit card, I will then cancel the card, and pay it off. If I fail to go through will this plan, then I am banned from the mall, YouTube (beauty channels), blogs, and access from my cards. 

If you are thinking about a credit card, think about it wisely, and have a plan. Because, I obviously didn't. If your in debt like me, take the pledge with me! We can be support for each other!! 

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