Avoid accumulating new debts

[freelancermaria]

Some people enjoy racking up new debts and living beyond their financial capabilities. They often depend on their credit cards to make fanciful purchases, only to regret their impulsive spending later. It is better to limit credit card usage to emergencies and prioritize cash transactions whenever possible. Accumulating new debts can become a serious issue, mainly when failure to pay them off promptly results in excessive interest charges. What do you think?

 

[Springtime]

Accumulating new debts will put you in a difficult position financially. There's a chance you may broke someday. I use credit cards to pay for purchases because I want to get cashback. I use them cautiously. I just use credit cards which are free, and I always pay my credit card bills on time. Never paid any interest.

 

[Starmix]

I am thankful to myself for not having experienced accumulated debts. That's a crazy thing especially during pay schedules. As much as possible let's stay away from debts.

 

[eLdavis]

One thing usually cause this is lack of self control and proper management. Make sure you have cleared all debts before going for another one.

 

[Nomad]

If you have debt never take another debt until you have paid first. Do not take debt unless you have plans to use it to generate profits through investment or business

 

[Suba]

Even though I personally don't have debt, there are many people out there whose lives depend on debt or being in debt has become a bad habit for them, not only with credit cards, but even for small purchases, many of them are in debt, such as purchases in the marketplace with PayLater. Accumulating debt also has a bad emotional and mental impact.

 

[Min George]

I think everyone should be focusing on clearing their debts and not to accumulate new debts. That kind of lifestyle would damage your credit score for when it is important.

 

[Starmix]

Accumulating the debts are like commuting suicide. The more headaches you will suffer because of the debt insanity.