Stop Using Credit to Fund A Life Of Debt
- Filed under: credit cards
- Date: Jun 5,2009
Frugal Life Stinks
Discipline. Conserve. Moderation. Budget… are all possibly scary words to someone who would rather ‘live now’ and ‘die poor’.
Unfortunately, in this world of financial turmoil that is today, sticking to the basics is what will get you through life and living in prosperity. Yes, like Grandpa used to say, “Save your money and pay for it cash.”
Why care? When you are on death’s bed you won’t need money right? Wrong. If you plan on having kids think of what you will leave them. Think of funeral expenses. Think of the life your children will have if you educate them about monies and leave a little something to get their finances into gear earlier in life.
However, there is no need to re-read yellow paged fiction novels day in day out. Here at Savemonies we want you to have fun, save in moderation, put some into investing and live a full and abundant life.
Good Debt Bad Debt
When we talk credit, we are talking about bad credit, a.k.a. bad debt. Credit from the bank is money that is granted for you to spend which you have not actually earnt yet. It is usually of high-interest and is marketed as a great deal but may have hidden fees. The thing is, if you start to make this a habit you will end up in a perpetual nightmare of being broke and living week to week.
Why is it bad debt? Read the rest of this entry »
