It seems that everyone nowadays has one or more credit cards. But is this really a good thing? What can you do with one that you can't do with cash? Today we will be discussing the advantages and disadvantages of having this tool.
One of the more obvious advantages is that you are not limited to a set amount of money you may have in your wallet. You can use all of the borrowing power (or money in the case of a debit card) at your disposal. This can be much safer than carrying around large sums of money, if you are robbed or lose your card you can call to have it turned off to protect yourself from getting charged for things you didn't purchase. This of course cannot be said for cash. This is also the disadvantage of credit cards however. Because you have all of your available funds available to you on demand, it may be easier to overspend on your card than you would with cash.
If you were to pull $115 cash out of your pocket for an expensive meal, you might notice this more and give it more careful consideration. It can be very easy to forget where all the money will ultimately come from on your card. One advantage of cash is that it represents money that you already have (unless the cash is borrowed) so there is less likelihood that you will spend more money than you can really afford.
Credit cards can be very convenient and easy way to buy things. Just keep in mind that this card will most likely have interest and you should choose the card you use carefully, and how you choose to use it carefully as well to keep out of trouble.
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