Beats41 had once ventured to the edge of her credit limit, nearly squandering her finances, but better attitudes towards credit card spending and saving helped pull her in, leading her down the path to achieving better, more financially literate habits.
I am the first to admit that I have a serious spending habit. Serious.
It all started back in college when I got my first credit card — a Capital One Student Rewards card. At the time this seemed like a great idea – I would learn to budget my money and use the credit card for emergencies only. Soon, “emergencies” turned into eating out and buying clothes. I started to make minimum payments due to justifying my spending, but eventually it all caught up to me and I owed thousands of dollars with no way to pay.
Needless to say, this took a big hit on my credit score and financial stability — eventually, I paid all of my debts (with the help of mom and dad). My second reality check was uploading my accounts on mint.com this year. After realizing that I spent $200/month at Starbucks, I made some drastic changes.
Today, I’ve completely changed my approach with money — I began saving, investing in my 401K and opening a few CD accounts.
Don’t get me wrong … I still shop regularly, but now I’ve started investing in ways that will be beneficial to my future.
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