Growing up in a menial town had its advantages . We were far astray from the craziness of big city living . Despite living in the small town, I still always tended to do things in my own personal way . Have my own space, have my own money, get me a credit card, then I would be living the good life . Little did I know though, everythign was not all glittery like I thought it would be . What younger people don’t know about credit cards is that it is what it’s known as, credit . It has to be paid back . You can’t just spend it and hope for the best. There is a price for having so much credit at your disposal .
Credit card debt is one of the biggest problems in America today . The Creditor, often credit card companies, give credit out freely, and most often people don’t realize how much they will have to pay back, after interest when all is said and done . I never got a credit card because I was scared to end up like my cousin . Because I got out on my own early in life I luckily learned a lot about managing my credit . When my cousins Grandfather passed away, he left her $12,000 . She went through that money in 6 days . She does not have money management skills. She didn’t even make a payment on her car . She had already had 10,000 dollars worth of credit card debt. She ended up losing her house , her car, and her job (wonder how that happened) .
But the lesson of this story is to learn money management early in life , by ready forums like Talkgold, and in the long run you will gain your financial independance . As parents we need to teach out children how to manage money as well as the negative aspects of debt. We need to ingrain this negativity into them at an early age. Growing up some people never had this.
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