Optimal Finance Daily - Financial Independence and Money Advice 3061: 7 Expenses To Never Put On A Credit Card by Michelle Schroeder-Gardner of Making Sense of Cents
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Mar 4, 2025 Michelle Schroeder-Gardner, a financial blogger known for her insights on personal finance, shares critical advice on smart spending. She discusses seven expenses—like furniture, weddings, and vacations—that should never be put on a credit card unless fully repayable immediately. Michelle emphasizes the hidden costs of financing these purchases, highlighting how wedding debt can lead to stress and conflicts. She also advocates for effective strategies to manage medical bills without resorting to credit, encouraging smarter budgeting and financial peace.
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Credit Card Debt
- Avoid financing purchases if you struggle with credit card debt.
- Irresponsible credit card use leads to high interest, late fees, and a lower credit score.
Financing Furniture
- Avoid financing furniture, despite tempting offers.
- Focus on the total cost, not just the monthly payments.
Wedding Debt
- Avoid starting married life with wedding debt.
- Weddings can be affordable or even free, just requiring the marriage license.