Why Credit Cards Are Not My Friends | I've Paid For This Twice Already... http://www.paidtwice.com/2007/12/21/why-credit-cards-are-not-my-friends/#comment-8676 LJ Fri, 21 Dec 2007 13:50:42 +0000 http://www.paidtwice.com/2007/12/21/why-credit-cards-are-not-my-friends/#comment-8676 I had a very similar experience with my first credit card in college, I was not really sure how they worked, and interest was a foreign concept to me, so I dug myself a nice little hole of about $3,500. It took me a while to pay it off, because I was afraid to tell my parents(they are frugal maniacs) so, it took me about 1.5 years to pay that off little by little. The sad thing is that if I had UNDERSTOOD the process, I never would have signed up. Credit, finance and budgeting alike should all be taught to children in school, it is a shame to me that so many people go off to college and do the exact same thing we did, spend spend spend, without truly understanding the consequences. I know how you feel, it is so hard sometimes to see something you REALLY want, but have to look the other way because you can't pay cash for it. Good Luck on your Plastic Detox :) Take Care LJ I had a very similar experience with my first credit card in college, I was not really sure how they worked, and interest was a foreign concept to me, so I dug myself a nice little hole of about $3,500. It took me a while to pay it off, because I was afraid to tell my parents(they are frugal maniacs) so, it took me about 1.5 years to pay that off little by little. The sad thing is that if I had UNDERSTOOD the process, I never would have signed up. Credit, finance and budgeting alike should all be taught to children in school, it is a shame to me that so many people go off to college and do the exact same thing we did, spend spend spend, without truly understanding the consequences.
I know how you feel, it is so hard sometimes to see something you REALLY want, but have to look the other way because you can’t pay cash for it.
Good Luck on your Plastic Detox :)

Take Care

LJ

]]>