Tuesday, June 9, 2009

First Experience with Credit Cards and Money

What was my first experience with credit cards? I received my first credit card from my parents on my 16th birthday and so began my twisted relationship with money. Honestly, I don't even remember my first credit card purchase. Back then my credit card didn't seem like real money to me. I was unable to appreciate the hard work that went into paying the bills because I wasn't working and I wasn't paying my credit card bills. So, you may ask "how did you manage to get yourself into $26,000 of debt?" it was easy because I didn't know anything about money, I had no appreciation for it, and it is way too easy to blow money using credit cards.

Who taught me about money? No one. I learned about it on my own while getting myself out of debt. I read various blogs and the following magazines: Money, Smart Money, and Kiplinger's. These resources helped me feel more in control about my situation and become more financially literate. I knew deep down inside that I was smart enough to learn about money I just had to seek out the right resources.

Hopefully, you had a chance to answer these questions for yourself (above questions were from previous post). This may help you identify the root of the problem or at least illuminate your own relationship with money and credit cards.

Action Items:

1. When did you realize you were in debt?

2. How does the debt make you feel?


Best wishes,

Janie

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