{"id":1872,"date":"2018-05-25T03:00:22","date_gmt":"2018-05-25T08:00:22","guid":{"rendered":"http:\/\/kerryaclark.com\/?p=1872"},"modified":"2018-06-15T06:28:58","modified_gmt":"2018-06-15T11:28:58","slug":"credit-card-mistakes","status":"publish","type":"post","link":"https:\/\/www.kerryaclark.com\/blog\/credit-card-mistakes\/","title":{"rendered":"Avoid These Credit Card Mistakes"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">Dealing With Debt &#8211; Part 5<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Are credit cards for everyone?<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Let me start by answering this question right off the bat. \u00a0Credit cards are not for everyone, at least not for everyone right now. In the same way college is not for everyone, neither are credit cards. \u00a0However, just like people who failed badly at college in their late teens-early twenties, but decided to return in their later years, you too can make a comeback with credit cards.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">In previous web-posts, we\u2019ve discussed credit cards in various topics: <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/3-ways-credit-cards-can-work\/\"><span style=\"font-weight: 400;\">ways credit cards can work for you<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/using-credit-responsibly\/\"><span style=\"font-weight: 400;\">using them responsibly<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/indicators-of-credit-trouble\/\"><span style=\"font-weight: 400;\">encroaching trouble with credit cards<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/credit-made-us-better\/\"><span style=\"font-weight: 400;\">how they can make us better<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/discipline-of-using-credit\/\"><span style=\"font-weight: 400;\">having discipline with credit cards<\/span><\/a><span style=\"font-weight: 400;\"> and more. \u00a0In this web-post, we\u2019re going to discuss the 3 biggest mistakes we\u2019ve made with credit cards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1874 aligncenter\" src=\"https:\/\/i0.wp.com\/kerryaclark.com\/blog\/wp-content\/uploads\/2018\/05\/20180525-TIF-Blog-Dealing-With-Debt-Part-5.png?resize=760%2C360\" alt=\"\" width=\"760\" height=\"360\" srcset=\"https:\/\/i0.wp.com\/www.kerryaclark.com\/blog\/wp-content\/uploads\/2018\/05\/20180525-TIF-Blog-Dealing-With-Debt-Part-5.png?w=760&amp;ssl=1 760w, https:\/\/i0.wp.com\/www.kerryaclark.com\/blog\/wp-content\/uploads\/2018\/05\/20180525-TIF-Blog-Dealing-With-Debt-Part-5.png?resize=600%2C284&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.kerryaclark.com\/blog\/wp-content\/uploads\/2018\/05\/20180525-TIF-Blog-Dealing-With-Debt-Part-5.png?resize=400%2C189&amp;ssl=1 400w\" sizes=\"auto, (max-width: 760px) 100vw, 760px\" \/><\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">If you find yourself wrestling with any one of these three, you\u2019re in the right place and ready to turn it all around. \u00a0Let\u2019s get started.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>Getting a credit card before we\u2019re ready.<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><i><span style=\"font-weight: 400;\">Mistake #1: We got a credit card before we were ready for one.<\/span><\/i><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Everyone else was getting credit cards and the offers poured in, while we were students. \u00a0Because everyone else was getting them, we thought of reasons why we should as well. You\u2019ve heard people justify it in ways such as these. \u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u201cWe need a credit card for emergencies.\u201d \u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u201cWe need a credit card for business travels.\u201d \u00a0Here\u2019s my favorite\u2026<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u201cWe use our credit card to tie up someone else\u2019s money and not our own.\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Whatever the justification, if you\u2019re not ready, this type of debt will eat you alive and you\u2019ll end up paying for it later. \u00a0<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">What I mean by \u201cready\u201d is simply this. \u00a0Learn how they work. Do some research. Do your homework. \u00a0Don\u2019t take this lightly. Find some mentors who handle credit cards well and not those who handle them poorly. \u00a0This won\u2019t be easy to do because 8 times out of 10, those around you handle them poorly.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>Saying we will pay it later.<\/b><b><br \/>\n<\/b><i><span style=\"font-weight: 400;\">Mistake #2: After each purchase, we told ourselves we\u2019d just pay it later.<\/span><\/i><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">My grandmother used a phrase that works perfectly here. \u00a0\u201cYour eyes are bigger than your stomach.\u201d Your desires and appetite for more is bigger than your income. \u00a0Saying you\u2019ll pay it later is a mistake. The debt becomes so large you\u2019re unable to pay it later. And later will end up causing you to have years, even decades of payments to make. \u00a0That mindset is the first thing that needs to go and is a revealer of your lack of discipline. I know because we\u2019ve been there and done that.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>Treating it like a credit card and not a debit card.<\/b><b><br \/>\n<\/b><i><span style=\"font-weight: 400;\">Mistake #3: We treated our credit card like a loan and not like a debit card.<\/span><\/i><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">This one sounds unconventional. \u00a0You should treat you credit card like a debit card. \u00a0When you treat it like a credit card, it won\u2019t be long before the balance is more than you can payoff in a given month. \u00a0However, if you treat it like a debit card, you\u2019re ready. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Did you know you can make multiple payments? \u00a0You can make payments everyday if you like. For us, I like to settle up each week or at a minimum on <\/span><a href=\"http:\/\/kerryaclark.com\/blog\/four-pay-categories\/\"><span style=\"font-weight: 400;\">payday<\/span><\/a><span style=\"font-weight: 400;\">. \u00a0<\/span><a href=\"http:\/\/kerryaclark.com\/blog\/discipline-of-using-credit\/\"><span style=\"font-weight: 400;\">Using a credit card requires more discipline<\/span><\/a><span style=\"font-weight: 400;\"> than using a debit card. \u00a0Don\u2019t attempt it until you\u2019re ready.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Today is Friday!<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">In this message we\u2019ve shared a big three; our 3 biggest mistakes with credit cards that is. \u00a0The mistakes include: 1) we got one before we were ready, 2) we said we\u2019d pay it later and 3) we treated it like a credit card, not a debit card. \u00a0Don\u2019t allow my big 3 to be yours.<\/span><\/p>\n<div class=\"su-divider su-divider-style-dashed\" style=\"margin:15px 0;border-width:3px;border-color:#999999\"><\/div>\n<p><b>Additional Web-Posts on Credit Cards:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"http:\/\/kerryaclark.com\/blog\/3-ways-credit-cards-can-work\/\"><span style=\"font-weight: 400;\">Three Ways Credit Cards Can Work for You<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"http:\/\/kerryaclark.com\/blog\/using-credit-responsibly\/\"><span style=\"font-weight: 400;\">Key Indicators for Using Credit Responsibly<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"http:\/\/kerryaclark.com\/blog\/indicators-of-credit-trouble\/\"><span style=\"font-weight: 400;\">3 Indicators of Encroaching Credit Trouble<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"http:\/\/kerryaclark.com\/blog\/credit-made-us-better\/\"><span style=\"font-weight: 400;\">How A $350 Credit Card Made Us Financially Better<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\" href=\"http:\/\/kerryaclark.com\/blog\/discipline-of-using-credit\/\">The Discipline of Using Credit<\/a><\/li>\n<\/ul>\n<div class=\"su-note\"  style=\"border-color:#c7ced4;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#E1E8EE;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note\"  style=\"border-color:#e5e5e5;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFFFF;border-color:#ffffff;color:#000000;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><a href=\"https:\/\/www.kerryaclark.com\/blog\/familyplan\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Family Plan Binder<\/a><a href=\"https:\/\/www.kerryaclark.com\/blog\/familyplan\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-1025\" src=\"https:\/\/i0.wp.com\/kerryaclark.com\/blog\/wp-content\/uploads\/2017\/04\/Family-Plan-Cover-e1493399146525.png?resize=115%2C149\" alt=\"\" width=\"115\" height=\"149\" \/><\/a> is available now! <p><\/p>\nOur team has worked very hard putting it together. We designed it to help you and your family move the needle forward in making your life your business. \nFind out more about the Family plan <a href=\"https:\/\/www.kerryaclark.com\/blog\/familyplan\/\" target=\"_blank\" rel=\"noopener noreferrer\">here.<\/a><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dealing With Debt &#8211; Part 5 Are credit cards for everyone? Let me start by answering this question right off the bat. \u00a0Credit cards are not for everyone, at least not for everyone right now. In the same way college is not for everyone, neither are credit cards. \u00a0However, just like people who failed badly [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1874,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,56],"tags":[],"class_list":{"0":"post-1872","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-accounting","8":"category-taming-debt","9":"entry"},"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.kerryaclark.com\/blog\/wp-content\/uploads\/2018\/05\/20180525-TIF-Blog-Dealing-With-Debt-Part-5.png?fit=760%2C360&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4jb7V-uc","_links":{"self":[{"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/posts\/1872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/comments?post=1872"}],"version-history":[{"count":6,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/posts\/1872\/revisions"}],"predecessor-version":[{"id":1969,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/posts\/1872\/revisions\/1969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/media\/1874"}],"wp:attachment":[{"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/media?parent=1872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/categories?post=1872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kerryaclark.com\/blog\/wp-json\/wp\/v2\/tags?post=1872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}