Here is the ugly truth about credit cards — it’s not your actual buying power.
It’s simple isn’t it? Just one swipe and everything that you wanted that you cannot afford now, can be yours! Then the bill comes and we are shocked as how big we owe to the credit card companies. We would feel bad about ourselves and pay. But then again, we sometimes go back to that cycle.
So why do we fall into that trap over and over?
I think we have really misunderstood the meaning of what a credit card is. At that point, to us, that card is our way to get what we want now with the money that we will have later. But that is the point. Will you have money for it later?
If you are good with your finances and really keep track of the things that you spend on your card and the things that you will really have to pay with cash for every month — food, rent, gas etc. Then this may not be a problem but for those who do fall into the trap of overspending with their credit cards, ending up with no liquefied cash for other transactions in their lives, this can result to a problem.
So here is the big truth that all of us should remember, and this one is from an Erzulliesta’s experience: “your credit card is not your actual buying power but your capacity to be in that much debt according to the bank.” Now ask yourself every time you are about to swipe it — can you really be in that much debt and do you really have that money later?
Erzullie is a fierce plus size fashion brand from the Philippines dedicated to designing and producing styles for the empowered Erzulliesta. Shop online: http://erzullie.wix.com/shop