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Resisting The Temptations Of Easy Credit

Getting credit today is almost like getting a hamburger. There are literally many shops that a person can pop into, to get what they want. Driving down the street, opening the Yellow Pages or cruising the internet, you will see many options. You can start at the banks, credit unions and work your way down to the Pay Day Loans stores that are popping up like a virus.

The Pay Day Loan system is the worst of the whole lending institutions. Anyone with a piece of identification can walk into one of these stores and in 30 minutes or less, walk out with $1,000. While it is true that some people really do not have enough money for groceries and cannot make it to the next payday, the idea of borrowing $100.00 and repaying $140.00 in two weeks time is absolutely ridiculous. However by taking a drive, you can see that the Pay Day parking lots are full, even in the early morning. The vast majority of people who use this system are not even buying groceries; they are getting money for a night out on the town, because they spent all of their last paycheck.

While Pay Day loans are a virus, the same could be said for ATM machines. They have popped up everywhere, from the garage, the corner store to even the bars that people frequent for a few drinks. It’s bad enough that you can get cash from your checking account on demand…you can also hit up your credit card. There are thousands, perhaps even millions of people, running into the ATM at the local bank or mall, just so they can grab a quick $300.00 off their credit card so they can have a fancy meal or take a date out for a few drinks.

So how does one resist the temptation of easy credit? The first thing is to take the bank card that everyone seems to carry and put it away. A person should sit down on a Sunday night and plan out the money that they need for the entire week. Now if you pay fees at the ATM, you should be going into the bank and withdrawing your weekly needs. The credit cards in your wallet and there may be as many as ten, should be put away in a lock box at home. When the credit card is not in your wallet, you won’t be as tempted to grab $300.00 at the ATM, just because you spotted one while looking at a nice suit in a shop window.

Financial responsibility is each and every person’s choice. You can choose to go deep into debt and try to climb out or save up and pay cash for all your needs.