Making credit card purchases you can’t afford
Before using your credit card, ask yourself this: is this purchase within my budget? If the answer is no, then it might be better to just drop it and avoid an unnecessary debt because of the high-interest rates on credit cards that will add even more to your financial burden.
According to Robert Gauvreau, CPA and founding partner of Gauvreau & Associates CPA, many people buy things that they cannot afford and end up with interest on a balance that they simply cannot pay off. Spending above your means can get you in trouble, not to mention it can affect your long-term goals. Why put yourself in such a position?
On that note, check out these 11 Purchases You Should Never Make with a Credit Card.
