Oh the credit card game.
On the plus side, they’re very convenient, come with rewards, and can (if used properly) make it easier to track expenses. As for the negatives, studies show we spend more than when we use cash and there’s a risk of paying fees and interest if we make a mistake (by not paying the bill on time and in full).
We already advocate for paying ON TIME and IN FULL each and every month (that’s a little Captain Obvious 😉 but that’s not actually all you need to do to beat the credit card game. Because it’s possible to pay on time and in full and still not come out on top.
There are two things that you must have to truly win:
- A budget
This is the tool that keeps you from spending more than you want to. But it’s nothing if you don’t have…
Discipline is the ability to overcome weaknesses and do what’s right despite temptations. It can be tough, so keep an eye out for next week’s 3 tips about improving your discipline with money.
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