Money is power. It gives you the means to acquire anything you want. What if you don’t have enough money? Be aware that the credit card companies will be lurking around the corner to make buying easier for you. Don’t give in to temptation!
Here are 3 reasons why you should not get a credit card:
- You Will Overspend
Retailers and credit card companies are like peanut butter and jelly sandwiches. On their own, they are good. Together, they are great.
Sometimes it feels like these retailers are in cahoots with credit card companies. They want to make it easier for you to buy stuff. Just take a walk around the mall. You see signs that say “For every purchase of X hundred dollars with your credit card, get free half-dozen donuts”
If you bite into their schemes, the only donut you’ll find is in your bank account.
A credit card will give you a false illusion of purchasing power by capitalising on the human frailty called “greed”. It will feed your need to acquire things even those that you don’t need.
Before you know it, your home will be packed with stuff that is worthless. Meanwhile, your electric bill is due and you don’t have the means to pay for it.
- You Will Be Mired In Debt
A little swipe here. A little swipe there.
Seems harmless, right? What’s a few credit card purchases? “It will keep my cash flow positive. Once I get paid, I can settle everything.”
Well, you won’t. You know why? Because once you see “minimum payment” on your credit card bill, you will not want to pay in full. Before you know it, you’re mired in debt you can’t pay.
Again, these credit card companies want to make it easy for you to buy stuff. They make everything seem affordable with the minimum payment and “low monthly interest” schemes.
But just like a boxing match, it is not the one shot that knocks you out. Rather, it is the accumulation of body shots that will wear you out. With a credit card, it will hit you where it hurts the most – your back pocket.
- Life Will Be Miserable
Before you had the credit card, seeing the postman deliver the mail was a welcome sight. You couldn’t wait to get the postcard from a friend or perhaps the hard copy of a letter showing you got accepted by the company you applied to.
Once you’ve had the credit card, the postman and the telephone have become harbingers of gloom and doom.
Another demand letter. Another phone call threatening legal action.
How can you live like this?
If you’ve acquired massive credit card debt, these companies will run after you. Yes, they were so nice when you applied for their credit card. But these credit card companies have attack dogs as well. And they will make life miserable for you until you pay up.
Put it this way, why would you want to pay interest on your purchase? Do you think it’s smart to pay interest for the next few months on a cup of brewed coffee that you will urinate in a few minutes?
Instead of getting a credit card, build character by developing discipline. Work hard to pay for the things you want. Hustle in life; don’t be hustled by these credit card companies.