Wednesday, February 04, 1998
Credit Card
University
By Magoo1175
(Magoo1175)
Today I would like to discuss something that hits close to heart -- college credit-card debt. In a desperate effort to gain new customers, credit card companies started giving cards to college students. This is not something new, but rather a vicious cycle to bring us down.
It starts off simply, building slowly. First you might need a new outfit. Then you need some more shoes. Then you start charging gas and groceries. "Heck, the bill's not due for a month," you say. Then your tuition bill comes due. What to do? What to do? Charge it! The credit card becomes your friend, a "good time friend."
I know first hand the pain of credit cards. Every month I got a bill. Every month I paid the minimum. Every month the bill got larger.
I paid money and still owed more money. Then one day I said, "I've had enough." I began digging on the Internet and found The Motley Fool. I began reading the many steps to Foolishness and ideas on how to get out of debt. I got aggressive, started planning. This Foolishness did not sound like a bad thing. My war cry became, "Give me no debt or give me death." My credit cards shuddered. I saw them for the all of the bad things that they were. They were my prison chains that kept me from Foolish Freedom. They brought me no return, no investment opportunity; only stuff and debt.
Now I pay at least twice the monthly minimum or more. I've paid off three and have only two to go. The paid-off cards got the ax. I plan to keep only one when I finish. I have been reborn. I am a Fool.
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