 |
| |
Along with the freedom, and more responsibility comes this right of passage in to adult hood, called bills. Creditors started sending me applications for cards when I was still in high school. I was already 18 and in my senior year of school. Unfortunately no one ever taught me about credit cards, bills and debt.
I had a few cards when college started, and I just kept buying things. I thought it was fun to have the freedom to spend money, without asking for permission and more importantly without the funds actually having to be there in my bank account. I had a job, but I was working retail, and only made $500 a month.
My credit card debt became $1400 in just three months. I couldn't afford the minimum balances, and my debt kept rising. I would pay a little here and there, but the interest rates were through the roof. I had to consolidate for 18 months to get out of debt, but that is not the best choice for everyone, and not all situations call for a consolidation.
So being eighteen not only gives you the freedom to spend, but it also can start you on the path to debt and a poor credit score, which will follow you when you're trying to make important purchases as you get older. When you're young, all you want to do is hang out with your friends, go shopping, partying and whatnot, but all of that costs money. Money that you might not have, while credit cards are giving you a false sense of having cash in your pocket.
Therefore, it is imperative that you start off your spending habits properly. And if you already are in debt, I have some tips for getting your bills under control; things that I have done in the past and other tips that will definitely help you. Here are some ways you can take control of your debt:
http://thesavvygal.com/articles/2008/09/19/the_money_honey/59money.txt
No comments:
Post a Comment