Credit Cards

Why carry around cash and coins and tediously count them out for each purchase when you could carry around one small plastic card to pay for everything? And, you don't actually have to pay off that credit card until 15 or 20 days after the end of the month when you make all your charges? And, that card maker actually gives you 1 to 5% cash back on all of your purchases. Why would you NOT take this deal?

If you have a handle on your finances and pay off your bill each month, then it's a no brainer to pay for everything with credit cards. However, if you sometimes forget to make payments or carry a balance, credit cards are a quick way to get into a big hole of debt. It would be wiser to pay in direct moneys / cash than to incur extra fees and interest from using a card.

Sometimes people simply have to pay for something that they can't afford, such as medical bills or emergencies. If they don't have a generous friend, they are forced to pull out the plastic and charge it. All is well until that statement comes at the end of the month and you straight-up don't have the funds to pay it.