Using Credit Cards Responsibly

Credit cards are everywhere these days – and with good reason. These pint-sized plastic placards have allowed millions of people across the globe to purchase items from every store imaginable with ease – no longer having to worry about carrying around large quantities of cash that could possibly be stolen. They’ve even allowed us to rack up airline miles, rewards points or pick up something we need ASAP a day or two before a regular paycheck clears into our account. But there’s a darker side to credit cards – and unfortunately many people have come to know it face to face. Spending far beyond their means, wracking up huge debts and incurring mind-boggling interest rates is the norm for some people. Some people know better, while others like our children are trapped into card offers for a free box of pizza on campus, not knowing the future consequences they’re stirring up. It needs to stop today! Credit cards can be a wonderful tool, but they mean nothing without a little personal financial responsibility. We need to make it a goal to educate our youth. One of the steps we’re taking at Pay Your Family First is with the UPside VISA prepaid card. It allows kids to start learning about cards and how to work within the budget on them at home, before they venture off to college and potentially make disastrous mistakes. You can find more about it here. It’s all about learning to use credit cards with responsibility – that’s a big step in shaping the way we think about money.