Archive for the ‘Personal Finance’ tag
Paying with plastic: a recipe for disaster
Photo credit: Andres Rueda
It’s tiny, shiny and lets me spend money without handing over a single, precious paper bill. It acts like my best friend, but could become my worst enemy. And now, I have two of them.
Credit cards are commonly used by college students because they’re convenient. I suspect that self-delusion adds to their appeal as well; it’s easy to pretend you can buy anything you need - or think you need - when you can delay the financial consequence. Also, it’s a lot easier to deplete your checking account when you aren’t really paying attention to how much is coming out of it, especially if you’re like me and you insist on paying your card off in full every month - wise, perhaps, but costly.
