Continuing last article on managing your emotion to be free financially, this time we’ll discuss about credit cards and its effect on your financial life’s. These days almost every grown up people on this world having cards, either its an credit cards or debit cards. Those two has its own function and benefit, but having both of it are good as long as you could use it wisely.

Some people more like using debit card rather than credit cards, its simple, they just don’t want to be trapped on lots of debts. For some credit cards are think to be temporary savers, they use it to get instant cash immediately. Both of them are good, but its better to know their functions first. A debit cards are withdraw directly from your account, while credit cards are withdraw in the next month.
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Try to spend some time in your room, look around you. Do you see some stuff which are not functional in your room? Functional in here meant some goods which are not too handy or not being used occasionally, as an example are clothes or shoes. People are tends to have many of stuff when they have money, but too bad these days although they don’t have cash, they still can swipe their cards. These ways of life will get you trapped on life’s with lots of debt.

Now, how to get it solve? For those whose not inside it, the answer is simple don’t get close on it. Start to personalized your stuff, think before you buy and pick only what is needed. And for you whose already inside it, its time to stop buying, its time to sell things you didn’t needed. The objectivity is to get extra money from its selling to pay your debt.
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Credit was once defined as “Man’s Confidence in Man.” But in fact, the definition of credit today is more like “Man’s Confidence in Himself.” Using credit today means you have confidence in your future ability to pay that debt. Forty years ago, your parents may have paid cash for their homes and their cars, a largely unheard-of event today. If they borrowed money at all, chances are it was from a relative or friend, and not a financial institution. (more…)