Sorry, that’s what you are if you are in debt because of the misuse of credit cards-an idiot. Notice the word I use ‘misuse’. Credit cards are similar to guns, in that they themselves aren’t dangerous, but rather the person using them is what makes them dangerous.
Let’s go back a second to something I hinted at, the misuse of credit cards. Here’s a few examples, of what might be construed as misuse of a credit card:
1. Making a car payment, Trevor and Alexandra make a good point about reminding their readers what Dave Ramsey says about car payments-don’t have them. I only bring this up because I know people that DO make their car payments with a credit card, that’s a double whammy.
2. Buying booze or tobacco, honestly if you don’t have money out of pocket to pay for this stuff, you should not be drinking or smoking in the first place.
3. Getting a cash advance with a credit card, a huge mistake of epic proportions if you are already in debt.
Getting out of debt has a lot to do with getting organized, but it also has a lot to do with having common sense. Sorry, but somebody had to say it, most people in debt are in debt because they are stupid. Very few people who have had a life emergency wind up in perpetual deb, usually these one-timers as I call them rapidly get out of the credit card quick sand.
The good news is that if you are smart with your credit card, you can actually make money with it. Just look at the plum card, which has a 2% cash back if paid within 10 days.
