If you can't pay your credit card completely every month it will drag you down into a place you don't want to be.

 I have an example from my own life. When we were living remotely in Mt. Shasta we decided to live on a cash basis without carrying any debt. However, my wife had one credit card then with a 500 dollar limit at that time. We decided to keep this one credit card for absolute emergencies.

However, this wasn't a very good idea for the following reason. 

some emergency occurred and we maxed out the 500 dollar limit. But then we paid the minimum balance that we needed to pay to keep our credit. Bad idea!

Why? Because by the time we finished the 500 dollar debt was paid back in around 1500 dollars over time. Finally I was so upset I cut up the card and realized we needed to not have any credit cards at all then.

So, at this  point I'm a basically retired Businessman so often we will use an American Express Card where people will accept it for the AIr miles (flying miles) which works pretty good.

However, we also pay off our balance no matter how high it is monthly to avoid paying any interest at all on any card. We also keep our balances high enough so we don't have to pay fees on ANY bank Account.

All these little costs can add up and put in finances in a bad state.

 This was my grandfather's favorite Statement regarding money during the Great Depression:

"If you don't have the cash don't by a G-- D--- thing!"

And this is how he and my family survived the great depression when many other people didn't 

 

 

 

 

 

So, it's almost better for you to live on cash you presently have rather than get in debt. My mother always did these long term payment plans like buying a 9000 dollar organ for me and her to play but through financing it I think she eventually paid between 18,000 dollars to 27,000 dollars for this organ.

Was it nice to have an organ to sing together and to play on. Of Course. I also almost always had piano too after I was 8 years old and took lessons from 8 to 16 and started playing in church by the time I was 12 because she and I were very musical always. She was an amazing coloratura soprano with a really amazing voice and I always had a pretty good voice too.

But, the point here is that "don't get into debt" especially now because one of the potential results is having to do a Chapter 13 Bankruptcy eventually or a Chapter 8 Bankruptcy and this can happen on a dime so don't get into debt unless it's a complete emergency and then pay everything off almost immediately if you can especially things like the home you live in. Why?

Look at the economy now. We might be at war with almost anyone soon the way Trump is moving which could destroy the lower 50% of income people in our country completely.

You have to prepare for almost anything to happen now because of Trump and Venezuela, Greenland, ice and everything else.

 We are one step away from another world war I or world war II because of Trump's craziness.

He isn't responsible enough to be president without getting all sorts of people killed.

He's the Craziest president since Andrew Johnson who likely was involved in President Lincoln's assassination.