Instant Gratification
Credit Cards are great when it comes to emergencies at time when we need them. I do not have a single credit card with me now. I used to have around three.
I was young and did not know how to handle my finances. Luckily, one day, I had external forces that helped me kicked the habit. My parents knew I had trouble paying what I owed due to credit card debts. This was me then.
Spiralling out of control
I spent loads on my credit card. I used to. Everytime I cleared the minimum monthly threshold of payment, I impulsely spent again. I had gotten so acustomed to the convinience of being able to purchase at will beyond what I earnt that it became a habit.
How it all started
I wish someone had told me early when I just started working. I got my first 💳 credit card and initially I was reluctant to use it. Then, one day I did. That was the start of a vicious cycle of impulsive spending.
Intervention
At times, it is important to get help. Luckily, one day my parents intervened.
I used parts of my savings from an insurance investment savings account to pay off those debt. If that amount was still invested till today instead of paying off the credit card debt I owed, it would have grown by a lot today. Oh well, I guess at times we need to learn our lessons the hard way.
Hope
I paid off all that owed and started new. It wasn't easy but at least today, I am credit card free. Nowadays, I think twice before purchasing. Buying with money I have in my bank is harder than buying with credit. It is an illusion.
I usually only spend alot of my money on food and mostly groceries nowadays. Ocassionally, some stationary to reward myself a bit.
Hope that after reading this, it will get you thinking of whether to use the credit card or not.