Must-Read: How Debt Can Mess Up Your Life
Money is a weird thing. You get a lot of it for doing certain things called “work.” But then, even if you don’t have enough of it to purchase the thing that you want, other people will actually give you some of it. Not for free, but for the specific price of having to pay them back later. With a little interest on top. And while that may not seem like a whole lot of interest up top, and surely you’ll make more money later in life, and blah-blah-blah… there are many ways to fall in the trap that is credit card debt. And they all lead to the same conclusion: Horrible stress and massive headaches.
And so today we’re heading on over to AskMen.com where they have a heaping helping of stories that will make you think twice about opening up that credit card or just putting that car on a few of them without thinking about the consequences.
Late payments. Debt settlement companies. Loans from my parents. I’ve been through it all. In my mid-20s, I was around $20,000 in debt. When I was younger, I treated available credit like it was points in a video game. College kids, younger people, stupid people, I implore you — do not do this. It’s insane, and it will come back to bite you in your ass.
Being in debt is an awful, suffocating feeling. It weighs on you. It haunts you. Hell, want to know why 99% of hotels in Las Vegas don’t have balconies? Because they’re afraid people will lose all their money and jump.
So, you get the gist of the sentiment. But head on over to the above link to check out the rest of the warning tale. And then, for the love of all that is holy, stop buying things when you don’t have enough money for them!
About Rick Mosely Rick is the editor for TSB magazine.