One of the more controversial topics among financial planners is the use of credit cards, especially if you're just getting started with a budget. Some very well-known financial advisors encourage people who are struggling to get control of their finances to steer clear of credit cards. Others feel that it's possible to use credit cards wisely in different situations.
Our stance on credit cards? IF you are in a position to pay off your credit card balance every month (and you're disciplined about doing so), then credit cards are a tool that can bring definite benefits. But even one month of interest on an outstanding credit card bill can be crippling. So do your homework before signing up . . . .
Here is some good information for deciding whether or not you should use credit cards:
Pros, cons of using credit cards for everyday purchases
And IF you decide that credit cards can be a financial tool for you, look here to help you decide which credit card might be best for you:
Best Credit Cards of July 2022
Whatever you decide, take your time and carefully consider all the ramifications of having that little slice of plastic in your pocket!
And please let us know if you have any questions.
Joel and Troy