Do you use credit like it is income? You might and not even realize it. When you purchase a TV, furniture or even a car do you pay cash or use credit? If you say to yourself, “I can afford to make the monthly payment”, then you are using credit like it’s income. You should ask yourself, “Can I afford to pay cash for this right now?” If you don’t have enough cash to pay right then, the answer is NO.
If you lean on credit when you haven’t made a plan to save for larger purchases you set yourself up to accumulate debt. 90 days same as cash plans and 12 months no interest deals seem great at first. But for most (88%), the deal isn’t paid off on time. Getting hit with the back interest and fees makes that sweet deal turn into a bad deal. You lose and the credit company wins.
Living debt free is a lifestyle. Set financial goals, and have a plan by budgeting.
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