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Moneylife » Personal Finance » Loans » Trapped By Card Debt?

Trapped By Card Debt?

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22/11/2007 12:00 AM | 

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Shalini Amarnani explains how to avoid such a fate

Though widely used and immensely convenient, credit cards can become your worst enemies if you are careless. One negative aspect of using credit cards, instead of cash, is that you don’t feel you’re spending real money. The pleasant feelings you experience when you purchase an item are disconnected from the unpleasant or painful feelings of making the payment when you get the credit card statement.
 
Studies show that most people are much less likely to buy, or less willing to spend as much, when paying with cash as opposed to credit...


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