The Real Cost of Credit
Back in the eighteenth century, credit was vital for small traders. Credit meant you would be able to make your money grow after a few months, and the small amount you borrowed would be inconsequential to the amount of money you earned, over-all
We cannot say the same thing about revolving credit and other forms of credit made available to people today. The opposite effect occurs. When you make use of credit, you end up with less and less money, month after month. Often, the purchases made with credit cards are as inconsequential as shopping sprees and gasoline.
If you think you’ve been under the spell of the credit sharks, it’s time to nip it in the bud. If you can use cash most of the time, there’s no need to carry around those credit cards.
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