by Doris Dobkins
Let's talk a little
bit about credit cards for a moment. Did you know that baby boomers
are the first generation to grow up at ease with credit cards and
ATM's. At the same time consumer debt has also increased to an all
time high. Do these two things have anything in common? I believe
Using a credit card for purchases tends to increase your average
purchase amount as well as increase your impulsive purchases. It is
a proven fact that people who accept credit cards get more sales
(about 90% more sales). Thatís definitely something to think about.
Question: Where are those sales coming from?
Answer: Those of us with credit cards in our pocket willing to use
I have a challenge for you. Can you go for a whole month without
using a credit card? Try it, and see how much money you can save
from avoiding those impulsive and spur of the moment purchases.
I know I spend a lot more money in a store when I know I will be
charging my purchases. Carefully determine what you need before you
go shopping. Make a list and stick to it. If you have to, estimate
the cost of what you will be buying and take only enough cash to
cover your purchases.
I can't emphasize this enough. One of the keys steps towards being
debt free is to pay off your cards in full each month. The other key
step is to stop using them - which cuts down on your impulsive and
Instead, invest your savings or put it in the bank. Save up for the
things you need and live below your means. Enjoy a richer fuller
life without debt.
Take the challenge and let me know your experience.
Doris S. Dobkins, is a money saving expert and the author of the
book Financial Freedom from A-Z. Visit her web site today at
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