Do you ever get the urge to borrow money to do something that you want to accomplish? It is easier to take credit than to wait until you save up enough money to purchase what you need. Sometimes the pressure to make the repayments is too much and it becomes more difficult than you actually expected since you do not know where you will get the money from.

You could even end up losing much more than you were reaching for at the end of it all. Today’s angel will get to look at a credit which is an agreement to purchase a product with the promise to pay back later and be able to derive some life lessons from it.

When The Deal is Too Good, Think Thrice

The thought of having money is always a good idea. The fact that you will not be rushed to pay it back makes you not often think of the future consequences. Sometimes you can borrow money to get the things that you want when you want them. You cannot fully understand why you have to wait until you have saved up enough to purchase something.

The reality is it can take years before you get that car or that house in cash. However, the truth quickly sets in once you take credit because your focus switches from making good money for your growth to making good money to pay debts. This is always a huge mistake because you trade the ultimate goal of being financially free for financial imprisonment.

In life, take time to really think if you need something before getting it.  You could be a woman who meets a financially stable man who is single and in his senior years who wants to settle down with you. Your first thought is you are lucky and this is the best thing that can happen to you. There is always a bigger picture to things and you should be able to ask really serious questions.

Why is the person still alone? Do they have another family?  Try to look for any red flags before committing. It is better to stay single than marry wrong or get in a bad relationship that will affect your life. The money, the title, and the image are not all there is to it.

It Is The Little Things That Matter The Most

The bank can provide you with an amount of money, which can be tempting and you can agree to take small amounts continually, mostly if you have a good credit score. When you owe money to someone or an institution, you always think a little more will not hurt. Debt has a way of numbing you to the situation at first.

When you have a student loan, you tend to think there will be no difference if you add some small amount to it. When having a bad credit score, the effort required to fix it becomes even greater and takes a much longer time. You have to learn to stop making the problem worse, only then will you come up with a plan to make the situation better. 

Today you are reminded just because you do not see it, it doesn’t mean it does not have an impact. You could be married and every time you have an argument with your spouse, you do not solve it and you bring her presents and that tends to fix the issue and you bounce back to normal.

Over time with the lack of communication, the issues that have piled up will be very hard to fix which can lead to an impossibility to reconcile. Although you did not notice the problem started a long time ago when you did not have that conversation to understand the other person better.

Having a good name can create opportunities for you.

Having a good credit score can come with some benefits. It may impact how much money you can borrow, where you live, and even your job application. Credit cards lower their interest rates when you have a good score and you are able to get lower insurance premiums. Good credit can help you get bigger loans because it serves as a signal that you are worth the risk.

Similarly, to life, having a good name in society can allow you to get more opportunities. You could be a well-mannered employee at work, you submit your work on time, arrive on time and you are hardly problematic. It is easier to get a promotion or be assigned other duties that can help you get a pay rise. However, if you hardly perform and you are always having issues, it would be difficult for anyone to put their trust in you. You may remain stagnant at work or even risk being fired. Learn to work well with others and do the right thing. It will take you a long way.

Take Responsibility For Your Actions.

You need to know how to utilize your credit. Keep in check the portion of your credit that you get to use. You will have to pay your balances in full every month, and if you cannot do that, you need to keep as little outstanding balance as possible. This will help improve your score. With time you can request a credit limit increase as long as the balance you need to pay does not increase.

You should be in control of your expenditure and the availability of credit should not be a leeway to overspend. In life, you are responsible for yourself and you do not have to find someone or something to blame in case something doesn’t go right. Always own up to your actions and learn from them. You could be a cheating spouse, but you have everyone else to blame for doing that other than yourself. This will never fix the problem. Owning up is a sign of courage and it allows people to give you chances.

If you are not so busy denying a mistake, you can learn from it.