An Expensive Lesson Essay

530 WordsApr 17, 20133 Pages
An Expensive Lesson Due to the ongoing recession money is a large problem in almost everyone’s daily life. In order to meet the monthly bills it leaves very little for entertainment. To satisfy their wants many are using credit cards a lot more now. “Just slide your card”. Some use their credit cards to the max and cannot pay the balance or even the minimum balance due at the end of the month. They end up in debt and it is very hard to get out of. The most stupidest thing I have seen is when parents get these cards and give them to their teenager to do just whatever they want with them up. They are out having their fun at their parent’s expense. They go on shopping sprees, eat out at expensive restaurants and fill their gas tanks. I see some parents that just don’t care. If I was to hand my credit card to my child, I would watch them very carefully and want to see every receipt. When I was younger I got my first credit card and got in trouble with it. I thought I was so cool and it went right to my big head. I was at Wal-Mart every night after work buying so much junk that I did not need. When I got that first statement, I cut the card up. Lesson learned, don’t use a credit card. The companies charge interest and it is not cheap. I ended up in debt and ruined up my credit score. When I went to buy a car, my father had to co-sign for me. That credit card came back to haunt me. To this day, I do not own a credit card and do not want one. My money is too precious to me. If I want something, I will pay cash for it. At least I know I am only paying for the items and not wasting money in interest. Most of the time people do not really understand how credit card companies work. That is why they end up in debt. Yes, a credit card company gives you the card to use, but it will cost you. When you get your monthly statement

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