3 Questions to Ask Yourself Before Buying On Credit

Reader Comments
Back to blog

If you can't pay off the credit card bill when it comes in the mail, then you could not afford what you bought with the card. When my wife and I were much younger, we thought we had to have everything right now. The result was using credit cards to make these purchases. Soon we were so far in credit card debt that we could hardly make the minimum payment. The credit cards were easy to get and use. We had to work long and hard to get them paid off. Now we pay our card off each month. We still use the card and have earned several free airline flights. But we now do not pay a dimes interest. The secret is to be patient, and not have the urge to buy everything right now just because you have a credit card. It was a tough lesson for us.

Steve of OH 9:11PM November 12, 2010

Jim, have you calculated the final cost of items you make monthly payments on? In case you missed it, interest adds to the cost. Making monthly payments is usually a bad idea. Marty has the right idea. Pay off those balances ASAP!

Rob of MN 9:16AM November 12, 2010

Marty you are wrong. It is better to pay it off month by month because you don't have to give off a big bunch of money right when you get your pay check. That's why I do it month by month

jim smith of KS 9:52AM November 11, 2010

When you get your credit card bill at the end of the month don't give into the bank when they say you can pay it off month by month. If you can you need to pay it of the first chance you get because the longer you take the more money you are going to be paying the bank because if your late getting your bill in they make you pay extra.

Marty Stiltson of KY 9:50AM November 11, 2010