- Posted April 29, 2012 by
This iReport is part of an assignment:
In need of a Money Coach?
- My Ten Sense: What to do when your money is low
- My Ten Sense: Making more money isn’t the answer
- My Ten Sense: 6 keys to couples happily managing their money
- My Ten Sense: Prepare your children so they don’t ask for handouts
- My Ten Sense: 10 things college students should know from student loans to landing their dream job
My Ten Sense: If you don’t have the money, you should charge it, right?
Wrong. As I’ve said before, you shouldn’t be using credit cards if you don’t have money saved for a rainy day.
So you certainly shouldn’t use a credit card if you’re broke.
Yet, that’s exactly what a cashier expected me to do earlier today.
I took my youngest son shopping at Kohl’s for swimming gear for his upcoming birthday party, and I balked when the cashier said it costs $45. The cashier immediately responded that I can apply for a store credit card to pay for my purchase. She assumed I was broke and could pay for my purchases by ringing up debt on the store card. I had the money. I was just balking at how on-sale items added up to almost $50.
The more money I save, the more I don’t like to spend. But when I was broke, I actually didn’t mind spending my dollar. But that’s for another article.
What’s wrong with the U.S. economy is that many people believe that if they don’t have money for purchases, they should charge it or borrow the money.
No, if you don’t have the money to buy a pair of shoes, a shirt, a cup of coffee or whatever, you shouldn’t charge money you already don’t have to a credit card.
Find out why you shouldn't use credit cards, how to live a good life on a budget and how I stood my ground when I let a salesman into my house yesterday on my blog, www.mytensense.com.