Category: Credit Relationships

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I love you credit! Or do I?

Wonderful, accessible, way-too-easy-to-get, way-too-had-to-pay-off, credit.
It makes the world go around and sometimes makes our head spin. It can be our best friend or our worst enemy. Using it gives you a temporary high. Owing it gives you a log-lasting headache.
Where am I going with this you ask? I shall tell you.

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One credit card with a dash of control please!

Seriously, why do you have more than one credit card? The likely answer is (although I’m sure many won’t admit it) “so I can spend more money than I earn”. The intentions might be good (buy necessities, pay for the kids sports, buy gifts) but the results are the same (if you consistently spend more than you earn, you will eventually hit a financial brick wall, and your finances will crash). This might mean something as drastic as losing a home or something less severe like paying for a decade or more for living above your means for a few years.