Creditors Are the Devil in Disguise

Finance & credit card companies are the best marketers in this world. They make us feel that we need to have and use their credit card to have some self-worth in our society. Americans rely and use credit cards everyday and is getting deeper and deeper in debt. I am going to try and convince you why you should stop using credit, even if you pay it off in full each and every month.

There was a study conducted regarding pain when paying with credit card, debit card, and cash. When someone bought something with cash, they would tend to spend less because cash in hand is apparent and all you have is all that you can spend. When someone used a debit card, there was still pain but much less than cash. You don’t see actual cash being exchanged so it’s not as bad, but you do know that your bank account has a certain amount in there and you are hoping that you did not spend more than what you have. Credit cards, on the other hand, has no pain whatsoever. Buy now and pay later. You don’t have to worry about anything and deal with it later. It’s very convenient but also leads you to bad habits in spending money. Additionally, with credit cards you will tend to spend more by 30% on average compared to cash.

I used to have the mindset that I use credit cards to build reward points (it’s FREE MONEY). I would use my cards for everything and then get a rebate check per year for 50-150. When you use your cards more often, you will ultimately spend more. That’s the simple fact. I probably spend thousands more per year just because of using the card. Getting a rebate of 50-150 bucks is not worth it to me any longer.

Just use cash or debit cards. You may think you need credit, but trust me on this. You don’t. It’s time to take back control of your spending and let’s stick it to where it hurts to the credit companies. Creditors & finance companies are nothing more than just legal loan sharks.

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