FMOOD 0106: How I REALLY Feel About Credit Cards - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

Let me tell you how I really feel about credit cards. Credit cards can be dangerous. At the same time, there's nothing wrong with the responsible use of credit cards. The key is to know yourself and know whether or not you possess the ability to own a credit card for responsible use only.

 

Part of the problem and why there is a danger involved with credit cards is that there's the lack of an emotional connection with plastic. When we use cash, we feel the transaction. When we use plastic, we don't really notice it until after we receive the credit card statement. Because there is that disconnect at the time of purchase, we don't feel the amount that we're spending at the time that we're doing the spending. If you're someone who may continue to repeat this process until you are up to your eyeballs in credit card debt, then you should swear off credit cards forever.

 

Here's the deal. There are folks who own one credit card and pay off the balance regularly. There are others who can't get near a credit card without purchasing the world. You need to figure out where you fall on that spectrum and plan accordingly. The key to responsible credit card use can be narrowed down to one concept: have a plan of action before the transaction. If you don't have a plan or don't think that you'll be able to pay the balance off on your card anytime soon if you use the credit card, opt to use cash instead and save yourself the hassle.

 

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