Word count:
"Can two walk together, except they be agreed?"
Book review: Things I wish I'd known before we got married
The Other 80 Percent
(From where we stopped yesterday)
Another extremely important matter that needs to be discussed by every couple is credit buying. If I had a red flag, I would have wave it here. The media screams from every corner: "Buy now, pay later." What is not stated is that if you buy now without cash, you will pay MORE later. Interest rate on charge accounts have a wide range. Many are in the 18-21 percent bracket. Couples need to read the small print. Credit is a privilege for which you must pay, and the cost is not the same on all plans.
One guiding principle is, if you have a credit card, use it only for emergencies (medical treatment) and necessities (car repairs, major appliances). Then, payoff the balance as quickly as possible. Never use the card for non-essentials instead, save and pay cash. The credit card has been for many couples a membership card to "the society of the financially fraustrated." It encourages impulse buying, and most of us have more impulses than we can afford to follow. I know credit cards and in keeping records and that, if payments are made in full promptly, charges are minimal. Most couples, however, will spend more and stretch out payments longer if they regularly use credit cards.
To be continued tomorrow by God's grace
#Amos:3:3
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#anniesentcares
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#planyourfinances
#wisdommatters
#garychapman
#favouredday
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