I'm my opinion when you get a credit card application in the mail or your bank says you are approved for a credit card. Your like really so you get one and you say I'm not going to go crazy with this because i have to pay it back. and when the bill comes you freak out. your like i cant pay this. so you put the card up so you don't use it. you pay the minimum balance and they just pays the interest so you still have the same balance. hope fully you learn from it the first time.
what i read in the book. paying with plastic really changes the way people spend their money, altering the calculus of our financial decisions. when you buy something in cash you notice that your wallet is lighter when you use a credit card your wallet doesn't get lighter so you don't feel the down side of spending money.also when using credit cards it actually reduces activity in the insula a part of the brain that associates with negative feelings.
what i have learned from using credit cards is once you get one and you make your first purches you have to pay off the purchase before you purches something else or you will get behind.
