A non-angry post, for once!
I had my first experience with credit card mentality today. It was horrifying to realize how a shift in the way I spend money could so greatly effect my life.
Allow me to explain, as I'm almost certain I'm making up terms here.
When I refer to credit card mentality, I mean this: "I can spend up to 300 dollars because that's what I have left before I max out my credit card." This is a very significant change from my normal debit-card mentality, which is this: "I have 500 dollars in my checking account. Do I need to spend some of that money to acquire this item? Is the item worth it?"
If that doesn't seem extreme to you, let me further elaborate.
I walked into Target. I was in search of a floor scrubber to facilitate the cleaning of my porch. As I walked in I started thinking about how I was going to pay for it--a normal process for me. My debit card is currently on hold (I'm not sure why, have yet to talk to them--but my balances are normal) so I have to pay with my credit card, which has 300 dollars until it's maxed out (it's a low maximum). I started thinking of all the things I could fit into that 300 dollars. Things I don't need, but kind of want. A portable iPod charger. A webcam. A new headset. Maybe some clothes (lolyarite). I was running the math through my head without even realizing it.
I literally stopped in the middle of an aisle as I realized what I was doing. I was trying to maximize my purchases based on the credit I was allowed. Oh. My. God.
Normally I would walk in, say: "I have 500 dollars to my name," do the math, figure out "After this purchase I will have 490 dollars to my name," and be done with it. I might look, but I'll realize that the 50 dollar purchase of a webcam, 40 of a headset, and 60 for an ipod charger, are far from worth my dollar amount going down.
Credit cards: The most prolific religion in America. It's no wonder people get into so much debt trouble.
Allow me to explain, as I'm almost certain I'm making up terms here.
When I refer to credit card mentality, I mean this: "I can spend up to 300 dollars because that's what I have left before I max out my credit card." This is a very significant change from my normal debit-card mentality, which is this: "I have 500 dollars in my checking account. Do I need to spend some of that money to acquire this item? Is the item worth it?"
If that doesn't seem extreme to you, let me further elaborate.
I walked into Target. I was in search of a floor scrubber to facilitate the cleaning of my porch. As I walked in I started thinking about how I was going to pay for it--a normal process for me. My debit card is currently on hold (I'm not sure why, have yet to talk to them--but my balances are normal) so I have to pay with my credit card, which has 300 dollars until it's maxed out (it's a low maximum). I started thinking of all the things I could fit into that 300 dollars. Things I don't need, but kind of want. A portable iPod charger. A webcam. A new headset. Maybe some clothes (lolyarite). I was running the math through my head without even realizing it.
I literally stopped in the middle of an aisle as I realized what I was doing. I was trying to maximize my purchases based on the credit I was allowed. Oh. My. God.
Normally I would walk in, say: "I have 500 dollars to my name," do the math, figure out "After this purchase I will have 490 dollars to my name," and be done with it. I might look, but I'll realize that the 50 dollar purchase of a webcam, 40 of a headset, and 60 for an ipod charger, are far from worth my dollar amount going down.
Credit cards: The most prolific religion in America. It's no wonder people get into so much debt trouble.