Life Lessons With Credit Cards

I got my first credit card in 1967. I was a freshman in college and had never used a credit card before. I barely had enough money to pay for my first quarter, but that was OK with the bank.

That simple act started my frequent and sometimes abusive use of credit cards for the next 30 years. Only last year did I realize that I was not managing my credit cards. But the credit cards were like the little devil on my shoulder saying, "Oh go ahead and get it, it's not real money." So I felt good until the day the bill arrived.

Through my 20's, I used my credit cards anytime I "needed" anything. I built up what was then considered a large amount of debt and was living from paycheck to paycheck.

In the mid 80's, I was about 35 and went to see my first financial adviser. He told us that we needed to reduce our debt and start saving for retirement, and our son's college.

We sold the house, moved into an apartment and used what we had made to pay off all of our debt and begin saving. We used our credit cards, but now at least we paid them off when they came in.

Better, but not ideal. I still had this little devil on my shoulder that would tell me to buy what I "needed". Even if the price were a bit more than I really wanted to pay, or I might buy the next one up in price with a few more features. All on impulse, and on the advice of my little devil on my shoulder. So even though we were paying the cards off, we still had lessons to learn.

We continued in this same mode of operation, until late 2007, when we took Dave Ramsey's course. Dave does not believe in credit cards. He says there is a reason the banks have all those nice big beautiful buildings, it is because they are building it with mine and your money.

Dave's class is something that I wish they had taught me in college. His class teaches the real life lessons about more than just credit cards, he teaches you about proper use of your money, all the way from getting out of debt to being able to give generously.

His class was so good, we gave it to our 35 year old son and his wife as part of their Christmas present.

He has good books and advice and is carried on quite a few radio stations. To learn more about his program, go to his website, www.daveramsey.com. I highly recommend his Financial Peace University course, you can usually find where it is being taught locally and it is not expensive. It will be one of the best investments you will ever make.

Have a wonderful day!!!