Remember the Wolfman? The dude grows fangs and fur, howls into the dark clouds and starts chasing chickens. It’s pretty sad. And then what’s REALLY sad is unfortunately the sorry werewolf gets a silver bullet in the heart.
That, friends, is what happens to spenders who abuse their credit cards. But it’s not all their fault, really. Here’s why.
Credit is a seductive thing. It makes you feel like you have power. Like you have control. And, yes, it can turn you into a monster, like the Wolfman. Or even Darth Vader, seduced by the Dark Side of the Force. Remember the term “seduction”, folks. It’s important.
Let’s go over the Don’ts of credit card spending to make sure you never turn into this horrible, teeth-gnashing credit card monster in danger of getting plugged with a silver bullet:
“Don’t” Number One:
Your Credit Card is NOT CASH. What that means: please don’t use your plastic to pay for things you’d buy with cash–such as food, clothing, and gas. Regular expenses need to be purchases either with cash or a debit card.
“Don’t” Number Two:
Forget the Minimum. Pay off as much as you can! Don’t be charmed into the seduction of making the “minimum” payment every month. It’s a trick. What it does is leave you with more interest to pay, and it takes you much longer to pay it all off. You want to save yourself from debt? Try to pay off as much as you can right away.
“Don’t” Number Three:
Don’t buy that boat with your card! In other words, stay away from purchases you can’t actually afford. Maintaining a “borrower” mentality will set you up for failure. With ANYTHING you purchase, make sure you can pay it all off before you get yourself way over your head. Your checkbook will thank you.
Now, friends, watch out for that silver bullet. Keep these Don’ts in mind, and you will forever be protected from both the moon and the bullet. Happy Spending!