Anyone who has been managing their finances for anytime knows that credit cards make consumer debt that much easier. It’s a simple fact that if you have the option to go into debt without truly knowing the harsh reality of having to dig yourself out of debt, you are likely to do just that – go into debt. It’s easy to get caught up in possessions and think that your life will be better with more stuff, even if you can’t afford it.
It is often this mentality that leads people to get rid of their credit cards all together. Yet, using credit cards is a viable way to save money and manage your finances. There are many features to credit cards that do not focus on the lure of buying stuff that you cannot afford. In fact, when managed properly, using credit cards for your every day purchase can be a better option for several reasons.
Easier to Manage: Whether you realize it or not, using your credit card statements to manage your finances is much more simple than the alternatives. Who wants to carry a journal around with you to write down every purchase? Or who actually keeps track of receipts? The truth is that credit cards offer a lot of conveniences. Beyond that, new features like All in one Credit Card Processing make paying your bills that much easier. Instead of having to withdraw cash every-so-often, you can use your credit card to pay for all of your expenses and then transfer funds at the end of the month. You can’t get much easier than that!
Rewards: Another major benefit to credit cards is the cash back rewards. By using your credit cards for every day expenses, you are earning a certain percentage on every purchase. As long as you only use it on things you would buy otherwise, you aren’t spending any more money. In fact, you are saving money even though it is much easier to manage. Talk about a win-win situation.
Being responsible with your finances starts with being intentional with how you manage and spend your money. While credit cards may not be for everyone, these basic aspects can make them quite attractive. Going into debt with credit cards is not the fault of credit card companies – it is the fault of the owner of the credit card. Learning to use credit cards to your advantage is an important aspect of managing your personal finances.
Have you considered using credit cards for your every day purchases?