Credit as a Trap

Growing up in a humble town had its advantages . No one in the town faced the world like big city people did . Despite living in the small town, I still always tended to do things in my own personal way . I thought that if I moved to my own place, supported myself with a job, and got a credit card, then I would be living a near perfect life . But everything is not all it seems . younger peopel liek myself did not understand that credit cards were so complicated and hurtful to ones finances . It has to be paid back . You can’t just spend it and hope for the best. There is a price for having so much credit at your disposal .

Credit card debt is one reason Americans are having problems when it comes financially . Credit card companies distribute this so called “credit”, but what you don’t know is that you have to pay it back one way or another, with interest . Because of my cousin’s experiences I luckily never got a credit card . I got out on my own a lot quicker than most teenagers, so I know a thing or two about money management . When my cousins Grandfather passed away, he left her $12,000 . Withing 4 days that money was gone . She does not have money management skills. She didn’t even make a payment on her car . She had already had 15,000 dollars worth of credit card debt. In the end she lost almost everything, her truck , her job and her house .

If there is one lesson to be learned here, it is to learn how to manage ones credit and debt early in life , by ready forums like Talkgold, and you will be financially independent in the long run . As parents we need to teach out children how to manage money as well as the negative aspects of debt. We need to instill this negativity into them at an early age. Growing up some people never had this.