Use of debt
macy
Rep Points: 500
People tend to use debt in various ways and some were even living out of it. Debt supposedly will only be used on specific needs and not on daily use. Debt should only be used on important things such as to purchase house, cars and other major needs.
I completely agree. I saw a girl the other day charge a coffee on her Visa. I wanted to tell her if she doesn't pay it off this month that coffee is going to end up costing her several hundred dollars down the road.:rolleyes:
macy
Rep Points: 500
hahaha, It actually happened to others and they didn't give a damn on it. Sometimes the one paying their credit were their parents so they have the habit of charging little expenses on it.
It's a bad habit to incur debts when you can avoid them. Most probably, you won't be able to keep track of them or overestimate your ability to pay.
Sometimes parents should be blamed having dependent children because they allow them to use credit cards that at the end they are the one who suffers from paying all those interests as well as the primary debt. They should teach their children to pay cash with their own money if they are able to produce one.
neol
Rep Points: 250
Debts can help you sometimes if used carefully. But if let slipped out of control, it can ruin your financial life.
I agree to that. Don't let your life be controlled by debts. You should control any money you borrow and use it for important things and not spend it on leisures that you will regret after.
i believe that debt should be the last resort. and if we decide to get a loan, we must also find a new income stream to pay for this. having a new debt without additional income will disturb the balance of your cash flow, leading to more debts.
[QUOTE=chrissie1101;139]I completely agree. I saw a girl the other day charge a coffee on her Visa. I wanted to tell her if she doesn't pay it off this month that coffee is going to end up costing her several hundred dollars down the road.:rolleyes:[/QUOTE]
Credit cards have these perks to their card holders like charge to card and earn points. That could be one reason why even small items are charged on credit cards.
yeah but what people don't realize is you have to spend 20k on your CC just to earn up enough points to get yourself a toaster or something.
Page: 1
2 3
