Credit Card Debt

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Everything in life revolves around money. Our jobs, our hobbies and our very survival revolves around making and spending money. It would be safe to say that choosing how to spend our money matters to most people. What should we buy, and how do we pay for it? Luckily, in today’s technological world, we have many different options to spend our hard-earned cash. Not only are we limited to just cash and checks like those of yesteryear, but we have many new and convenient ways to spend such credit cards and PayPal. You could even send someone money over Facebook and Snapchat! There are various advantages to each payment method. Some people choose cash to help control spending, others prefer using credit cards to earn reward points. There are many …show more content…

Those who understand the importance of credit will find ways to build credit. One of the simplest way to build credit is to use credit cards. Because credit cards are like a type of loan, using credit cards will allow young consumers to create a history of borrowing and repaying the money that is spent. Some people are opposed to using credit cards for fear of overspending. Many can even correctly argue that credit card debt is one of the leading forms of personal debts for Americans. According to Nerdwallet.com, an American personal finance website, credit card debt is the fourth biggest debt that many Americans carry today. This statistic alone, will cause many people to run back to the safety of cash. You cannot spend what you do not have. Still, for those with enough self-discipline to control their spending, credit cards offer an attractive means of bettering their financial …show more content…

Many people have turned to online shopping because of better deals that companies offer. Consumers can easily compare merchandise online, order it, and have it delivered from the comforts of their own homes. On the other hand, consumers will occasionally find themselves at a brick-and-mortar store where credit cards are not accepted. This is because of processing fees credit card companies charge to use their service. In this situation, a consumer would have to resort to cash or debit cards in order to make a purchase. For those who choose to make purchases on their credit cards, it would be wise to have an alternate means of payment as

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