Friday, February 2, 2007

Article on Credit Cards

I stumbled across a good website for learning about the dangers of credit card debt and debt in general. In particular, this person had some really eye-opening figures on how long it will take you to pay off a certain amount of debt- 10 years! Particularly when the author said, "If you find yourself with high credit card debt, cut up all but one of your cards." this inspired me to actually go home and do this today. I swore I was not going to carry plastic around at all once I set up the debt-repayment plan with my mother (who is extremely financially-savvy) and I have used it here and there for stupid stuff like a McDonald's breakfast. Its hard to not carry them cause there are times I have a doctor's appointment or something and I will say, Oh I have the credit card today! What an idiot I am.

I may just go home today, clean out my pocketbook, put my loose change in my jar and at the very least put all my credit cards in my filing cabinet and get them out of my wallet. I don't know if I have the strength to actually cut them in half, after-all...

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