Just Because You Can, Doesn’t Mean You Should

Just because you can swipe your credit card and pick up that shiny new thing you wanted, doesn’t mean you should. Credit cards have lured us in with the ease of instant gratification, allowing us to shelve what should be thoughtful monetary decisions. In fact, one publication once satirically noted that, “The only reason a great many American families don’t own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments.” Humor often hides some pretty revealing insights. If your wallet is packed full with credit cards, it’s time to start cutting down on them – or even cutting them up – and start treating them more like debit cards. You really need to be spending money only after you earn it. Financial stability is about knowing when and where to buy. You can’t completely abstain from everything you want, but you need to practice moderation. I like to practice something I call the five-minute rule. Before buying something I think I really want, I step away from it for five minutes. If I really have a strong attachment still, I come back and make the purchase. So many times though I find just by stepping away and moving on, I realize that no, I don’t need that! In fact it would be just silly to pick it up. Try it out yourself! In either case, if credit card debt has become a serious part of your life, it’s time to cut those plastic prisons up and free yourself with a little financial responsibility.