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Episode 3061:
Michelle Schroeder-Gardner highlights seven common purchases, including furniture, weddings, medical bills, and vacations, that should never be charged unless you can pay them off in full immediately. Avoiding these costly mistakes can help you stay in control of your finances and prevent unnecessary stress.
Read along with the original article(s) here: https://www.makingsenseofcents.com/2015/11/expenses-to-never-put-on-a-credit-card-finance-furniture.html
Quotes to ponder:
"Just because the monthly payment seems 'doable,' it doesn’t mean that it’s what’s best for you."
"Wedding debt can cause arguments, stress, financial problems, and more."
"A vacation is supposed to be that - a vacation. I couldn’t imagine that a vacation would be relaxing at all if you were paying interest on it for months or years to come."
Episode references:
The EconoMe Conference YouTube Channel: https://www.youtube.com/@EconoMeConference
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Optimal Finance Daily - Financial Independence and Money Advice