Carrying a credit card is very convenient. It also provides a huge temptation. It’s so easy to walk in to a store, buy something on a whim, sign and walk out. It doesn’t even feel as though you are spending money! If you don’t have the funds in your account and you are taking a loan to make a purchase, you will find that it is the most expensive loan you will ever take.
For some people, shopping is an addiction just as alcohol, cigarettes and drugs are to others. A shopping addiction and credit card are a bad mixture. You can get your ‘fix’ anytime you want. But in the end, you have to pay off what you owe each month, because as long as you keep paying the minimum amount, you will never get out of debt.
You are in debt and you have very little to show for it - no car, no house, no new furniture, just stuff you keep picking up because you can’t resist the credit card offers. Your credit card company is happy because they are making money out of you, even when you don't pay off the balance every month. So as long as you continue to make those monthly payments you are going to continue to get credit card offers.
You have to learn about restraint, how to say ‘no’. No more self indulgence every time a credit card offer comes by. At some point you have to put an end to your spending.
Think before you give into that next credit card application form; consider what you will be paying off over the next ten or fifteen years. Consider whether those new clothes are worth living in debt forever, or whether it matters if you have the extra pair of shoes. Consider pulling in your reins and getting yourself into better financial shape as fast as you can.
Perhaps you need help when it comes to uncontrollable spending. If you can't say no to that next credit card offer, then you had better get a better job or find a rich partner that can pay your credit card debts for you. And whatever you do, make sure that you pay your bills promptly. Don’t let your credit score go down the tubes as well.