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Bravo wizardPC! You learned your lesson early, not after you had to declare personal bankruptcy and wrecked your credit. Oh sure, you can still GET credit but you'll get screwed on the rates and it doesn't change your spending habits.
The golden rule I always follow is: Save your money to buy something, don't BORROW money to buy it. If you have to borrow it (schools, homes, cars aside), you can't afford it. For example - I want the new Mac Mini. I'm short about $100. I could put it on the cards. But I'll save instead. It will work just as good when I get around to buying it and who knows, maybe some schmuck who bought it as the newest, best thing will be getting rid of it and I'll get a deal.
But that's a really hard lesson to learn when you look around at everyone else who seems to be able to come up with the newest gadget, car, computer, whatever. It can feel a bit unsatisfying that you have your financial head screwed on right while everyone else seems to be enjoying their new home theater system.
I think, besides financial discipline, you also gained something else - maturity.
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