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Money and Finances
Reply to "I feel like I am doing money management wrong"
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[quote=Anonymous]The “advantage” a credit could’ve given you when you were unemployed is that you can charge things and then make only a small minimum payment every month, which would’ve allowed you to hold on to most of your savings. But CC interest rates are very high. If you’re just making the small minimum payment every month, it becomes very hard to get out of debt and it can take many years to get yourself out of the debt hole. So while it’s good to have a credit card or two, it’s best if you always pay your balance in full every month. Which means you shouldn’t charge more than you can afford to pay every month and you need to have the self-discipline to do that. [/quote]
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