I use my credit cards because they are both rewards cards and sometimes it's just more convenient. I am certain to always make an entry in my checkbook for the amount that I charged so I can pay the bill in full when it comes due. I get the benefit of time delayed payment plus rewards.
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I have about $40,000 in credit card debt, yet I was still using my credit cards. I know- not very smart. This week, I decided to get smart. I shredded all of my credit cards! It felt great and now I know that I am literally unable to add to my credit card debt! I will continue to pay my bills on time and try to pay more than the minimum due. 410
When I was young, parents (at least MY parents) never discussed money. It was only when I took over my elderly mother's finances that I discovered they had paid cash for cars, rented from inlaws while saving to buy their modest home for cash, invested in stocks, & paid all credit cards in full each month. When my father's salary increased, he saved the extra until he had enough to buy a $1000 CD (certificate of deposit) several times/year. It took decades for me... (click title for more info)
to learn good money habits on my own. Don't discuss specifics with children, but when opportunities arise, teach them the pitfalls of credit card spending, benefits of saving & investing, bargain hunting, & good money management skills. And above all, practice what you preach.
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