I have an urge to discuss credit cards since the holidays are passing and the UPS truck will be now be delivering the credit card statements. Did you ever notice that those bills get bigger? Too bad it is just not the type got bigger. My husband suggests that we try to keep the spending under $1,000. He would rather not see the commas on the credit card statements.
But here is my real message. Pay off the credit card statements each month and don't finance. It is a very big hole to dig out off. The credit card company will put on an extra charge every time you purchase an item when you are carrying a balance. While this does not seem fair that is what is done. So if your credit card is not paid off in full each month start paying cash and pay more than the minimum to pay it down each month. With the finance charge percentages in the double digits it is really really hard to pay off the credit cards.
This is the fine print on the back of one of the credit card statements regarding Grace Periods.
"You get a grace period of 20 days if you pay the New Balance in full by the due date every billing period. If you do not, you will not get a grace period until you pay the New Balance in full for two billing periods in a row."
Bottom line, please don't finance. Start paying cash for things until you can pay down the balance.
A thirty dollar belt is going to get thrown away before you pay it off.
Credit cards are for convenience. Don't let them become a burden. If you don't finance on credit cards congratulations but it is easy to fall into the trap. I was surprised reading the fine print that you need to pay the full balance on time twice in a row to not be charged finance charges on current purchases.