Credit Cards & Your Budget

By Hannah Sherman, JWI Intern

Credit cards: those magical pieces of plastic that can seemingly pay for anything. The movie Confessions of a Shopaholic acts as a warning to all young people, showing the repercussions of credit cards and not paying off the bills. However, learning to live on a budget and taking credit card bills into account can save you from being forever in debt.

Cristie Ritz King wrote an article on her struggles with credit card debt, detailing how she dealt with the life-altering effects of debt and learned from her mistakes. Unlike the protagonist in Confessions of a Shopaholic, Cristie didn’t spend all of her money on lavish items; instead, she didn’t have a set budget and all of the little items started to add up. Unfortunately, this is not an uncommon story and more and more people are getting deeper in debt because of credit card (mis)use. The root of the problem is in not acknowledging how one should live in the first place, neglecting to set budget boundaries and therefore accumulating debt. By cutting out all non-necessities and setting a strict budget, Cristie was able to slowly get rid of her debt and regain a sense of financial security.

Cristie’s story can serve as a parable for all of us, proving the importance of spending within our limits. JWI is doing our part by creating a Money Toolbox equipped with a credit card calculator, showing real life repercussions of credit card spending. By teaching girls at a young age how to properly handle finances, we reduce the risk of bottomless debt, taking steps to ensuring financially secure lives for future generations.

Additional Resources:
Obtain a free annual credit report.

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One response to “Credit Cards & Your Budget

  1. well written thank u

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