One problem that many of us face on getting that first credit card is that we imagine that the money flows freely. I thought that my salary could handle all the monthly minimum payments; after all I would be paying for the shoes, clothes, and make-up in installments. Was I ever wrong!
After barely a year, I experienced the humiliation of having a credit card payment declined; that too, in front of my family and friends. That should have worked as a wake up call, but did not. I figured if I paid double the minimum payment, I would still be able to go my expensive hairstylist every week. I could not keep up with my rising bills.
Thank goodness, my friends intervened and helped me realize the mistakes I’ve made with my credit. You see, it is the thought of having so much money at your disposal, money that’s not even yours, that makes spending it so much easier. I was offered a huge credit limit. Somehow, I got the idea that I would benefit with maximum use of my card.
I suppose I was nave when it came to credit cards and other matters pertaining to finance. In fact, not once did I hear my parents complain about finances while I was growing up....
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