Eliminate Credit Cards

Through my own experiences in the 1980's as a college student, I learned how dangerous spending money I did not have can be to my future. I got myself into quite a bit of trouble. Please try your best to avoid getting into credit card debt, if you could help it.

When I was a teenager obtaining a credit card was easy the offers came in the mail every day. As a young adult I was very happy to receive these credit card offers. It was fun, just to be frank. I looked at these cards as free money, what does a teenager know? Some of these offers promised me so much it was truly difficult to resist. Some offers were as low as 0% introductory offers, free balance transfers, no payments for 90 days and a slue of free gifts if you accepted and signed up. Free cameras, free movie tickets, free dinners and a lot more, back then I fell for most of the offers that came to me. I started spending and over spending, within a very short time I was several thousands of dollars behind and growing. My biggest problem was paying back the new balances of accumulated debts. The scale was tipped toward the spending side, big spending versus small earnings. I had no means of paying off these debts which were compounding daily, as fast as I made bare minimum payments the principal would increase. I was truly spinning my wheels.

My accumulated debt followed me all the way into my twenties and subsequently into my marriage. My wife and I had to utilize consolidation and counseling, just so that we could handle our monthly payments and still have enough for everyday expenses. Shortly after our first consolidation the holidays were upon us, and we went right back into credit card shopping. With our knowledge and previous experience, we should have been more cautious and steered clear of too many new purchases. Once again, we started accumulating more bills and things got tougher, within a short time we became candidates for debt consolidation and counseling again.

All together my wife and I have consolidated our debts three times since our twenties. Today we are doing much better, the experience taught us a lot about money and good spending habits. My best advice based on my experience is to consult a debt consolidation specialist if you find yourself in a similar situation. These credit cards are very important in times of emergency, spur of the moment spending, they are not all bad. If I can help it "I AVOID CREDIT CARD USE."

- The Webmaster

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