Going into debt is as American as apple pie and baseball. Not all debt is created equal. When people hear the word “debt”, they immediately see it as a bad thing. This is not always the case. Many of us don’t have the money to pay for a car or a house or education at once. This is when it’s fine to borrow some money because it is for a good cause. Bad debt is when you use credit cards to buy youself the newest and latest things and then have no way to pay the money back.
Like many college students my age, I have multiple credit cards. I also have store credit cards for Target and Amazon. I am lucky enough not owe $15,000+ like many people my age do, but I want to make sure that it doesn’t happen to me. Although I have a minimum wage job, I have been pretty good about paying all my bills on time. I have never paid any bill late or had to turn off my phone or other “luxury” items because I coulnd’t afford to pay it that month. At the moment, my credit score is 700. Despite all of this, I know how easy it is to go into debt and owe credit card companies thousands of dollars.
I’ve read plenty of books about what to do to save more money and spend less. Also on how to not go into debt. There was even a movie that I watched, while it was exaggerated, it showed what could happen if I continue buying things I don’t need on my credit card.
My goal for October is to go on a spending fast. That means for 30 days, I will not buy anything online or in person that isn’t groceries or anything I absoultely need. Maybe I can even go two months on this spending fast. I want to see how much money I can save in these two months.
90s California Runner Mom 