Paying Off Your Monthly Credit Card Balance

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  • #2558

    As a younger man, I wish someone would have told me that credit cards should be paid off ENTIRELY every single month. When I signed up for my first card the terms: APR, interest, and fees were all words I was aware of, but really had no idea about. All I knew was that I could suddenly afford things that would have taken me months to save for and I was going to bask in my newfound ability to purchase, purchase, purchase!
    Unfortunately, I had to learn the hard way that if you can’t afford to pay off the entirety of your monthly balance those interest charges pile up and FAST. It can begin to feel like you’re just throwing money at balance, with zero end in sight.
    Luckily, as my business grew I was able to pay off nearly all of my credit card debt, and learn a few lessons along the way.
    Don’t charge anything on a card unless you’re certain you’ll be able to afford to pay the balance at the end of the month, IN FULL. Falling down the rabbit whole of interest is not somewhere anyone wants to be.
    And if you really want to get the most out of your credit card, find one one that comes with rewards. Not only will you be building your credit by paying off your balance every month but you’ll be accruing those sweet rewards, as well.


    Josh, you are so right! It is so easy to get caught up in the never-ending cycle credit card cycle. I think most of us do not take into account the addition of interest to the balance each month. Yes, we know it is going to be there, but the reality of it is so much more than we think about.


    Thanks so much for your input! It always feels good to know that I’m not the only one out there who has been through this.


    I agree! I think you make a great point with the rewards programs too. So many people don’t understand how to really take advantage of the rewards without getting caught up in more debt. Worry less about the rewards and more about staying out of debt.

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