The credit card problem

I recently read Dave Ramsey’s “The Total Money Makeover.” It talks about how people in America end up in debt and how to eliminate it in order to get rich. Ramsey takes aim at the people for trying to “Keep up with the Jonases” by spending beyond their means like buying an expensive house on debt or a brand new car on a lease.

Not to mention buying s**t you don’t need through credit cards.

Debt is debt.

Credit cards are pain in the butt, let’s face it. They are tempting and will let you have things you want without spending cash but with a price heavier than what you bought. You missed one payment and your credit score will be lowered and your interest will go up. It will keep going up until you pay all of it.

You don’t wanna be in that situation.

Unfortunately, a lot of people not just in America but throughout the world are in this situation. They have accumulated too much debt either through credit cards or other means that it is harder for them to get out. It is becoming worse thanks to social media. People post photos of their vacations to the Bahamas or somewhere in Europe where they stay in a lavish hotel and eat expensive food, not to mention travelling first class.

There is even a YouTube channel about someone who travels First and Business Class in well-known airlines like Emirates and Eithad and admits to have redeemed tickets through credit cards. In almost every video, there is a different credit card, mind you.

How does he do it? I don’t know! Is it worth it? NO!

I get it, some people are smart that they can beat the system. However, the system comes back to attack you when you have accumulated credit card debt. You are always one step away from falling off the plank. You might not spend much and you would make regular monthly payments of your credit cards on time. However, life comes you in the way and you might not be able to pay it.

Don’t be in that situation.

I have finished reading Dave Ramsey’s “The Total Money Makeover” and I have not only paid my credit card bills but I have stopped using credit cards for now. I was not a big spender but I was always cautious not to fall into the trap.

Debt is debt.

Some financial analysts argue there is good debt or bad debt. To most folks, debt is debt. Let’s face it, not everyone is smart to beat the system of how the economy is set up. You have to play it safe. Using credit cards mean you are putting yourself in danger even if you are paying on time. You’ll never know when things go bad. You might get laid off from work, you might get into an accident, you might get a divorce and your assets could be divided. You could get a traffic ticket.

You’ll never know!

Be safe financially.

Let me know in the comments how you guys feel. You can support me at https://www.buymeacoffee.com/bilalali1000.