Dear Younger Self,

I know you feel special every time you receive a credit card offer, but don’t fall for their empty promises.  The immediate gratification of being able to get whatever you want whether you have the cash on hand to pay for it pales in comparison with the interest, fees, and extra charges you will be paying to make that happen.   More often than not, you aren’t even using the item you had to charge on your credit card by the time you’ve completely paid it off.  It’s important to have a credit card for emergencies and convenience, not to mention building your credit score but hold off on using it unless you know you can pay it off by the end of the month.

Once you have built up your credit score, you may be able to purchase a house someday.  This is a good investment and worth going into debt for, but refinance when the interest rates drop and try to pay off your mortgage early.  Only get a car loan if it is interest free, and you are easily able to make the payment each month.

I know I may sound like a killjoy, but you will thank me later!

This post is part of a  31 Day Blogging Challenge entitled Advice to my Younger Self.  Please click here  to find all the posts in this series.  You’ll be glad you did!