Saturday, February 20, 2010
Chapter 6
Credit card... sounds like bad news to me! it will remain only an unapproachable thought. I was taught about finances as i was raised. When i was of age, I talked with my parents about getting a credit card because it sounds like fast money with little consequences. Thankfully, they deterred my pursuit. This chapter seems as if it is encouraging to get credit cards; and so, it wouldn't surprise me if some of Pearson's employees have a second career or have encountered special incentives. At least this chapter educated future credit card buyers of ways to correctly manage their debt so we can avoid another monkey-see-monkey-do economic catastrophe.
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I had a different upbringing when it came to getting my first credit card. My mom encouraged me to get a credit card so I could build my credit. She also encouraged me to use it sparingly, pay off the balance monthly, and never, ever miss a payment. I definitely took heed to the last suggestion, as I've never missed a payment, but have had my struggle with debt. When I have kids of my own, I will share the problems that I had with a credit card. Hopefully I will be a good example with my own finances, and my kids will follow suit.
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