Disclosure:  This information is not meant to be financial advice.  We are simply sharing information that has worked for our family.  Please be sure to read our disclaimer statement.  Click here

Now that you’re running a household, you may find the need to have a credit card or two.  Credit cards can make life a lot easier, and there are several benefits:

• You don’t have to carry around cash.
• You can buy something now, even if you can’t afford it today.
• You can build up your credit, so that you can buy larger items like a car or house.

While there are some pros to having a credit card, many of us get into trouble when we spend beyond our means, and can’t pay the money back.

It’s good to get into the habit of paying off the total balance every month.  If you find that you can’t pay the balance, then it’s time to cut back on spending.  Otherwise, a good chunk of your hard earned money will be spent on credit card interest.  Even if it’s just one card with $25 each month in interest, that’s an extra $25 that you could spend on something else, like shoes for example. 🙂

Bottom line, if you can’t afford to buy something with cash, or pay off your credit card at the end of the month, then you probably shouldn’t buy it.  The key to getting ahead is spending within your means.