Today, there is a huge debate about whether exposure to plastic poses health risks. But there exists still an even bigger problem with a different kind of plastic exposure, already proven to be hazardous to our wealth. I’m talking about the kind of plastic we carry in our wallets.
Convenience Factor. Most people begin their relationship with plastic on what I call terms of convenience. They have enough money in the bank to pay for groceries or gas, but it is just so much more convenient to swipe a card. And the monthly statement offers such a tidy record of transactions. It is so convenient.
Then comes the time when the bank balance is a bit low and the perfect shoes are on sale. Can’t pay the entire balance when the statement comes? Not to worry! Because of the minimum payment option, you can pay a small amount and buy yourself another 30 days. Such convenience. Read more