The Secrets of Finance and Credit

Credit cards. You can’t live with them and you can live without them. Credit cards are a necessity in the event of emergencies and for the very important factor of building a good credit composition to demonstrate to lenders that you are responsible and can handle having credit. Alot of people unfortunately find themselves in a debt spiral when they mistake credit for cash. In simple terms cash is money that may be spent usually without consequence. Credit cards when used frivolously and on items that are not needed will add up to debt which shortly brings you to struggle to just make the minimum payments. Then comes the “PP” syndrome which is stealing from Peter to pay Paul when you start taking from one credit card to pay another credit card: this usually indicates the beginning of the end!

Remember to use your credit cards responsibly. That includes but…

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