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I wrote a post about banking last week and it gave me the courage to go to my bank and get me some schooling about credit cards. I still have no idea why America needs people to have credit cards. I understand the importance of being looked at as trustworthy in paying debts and all, but why do I need to put myself in a tempting situation in the first place?
But then looking at how life works here, having a credit card is perhaps the best option considering there aren’t as many people around that I can ask for loans when a financial hiccup happens. There are situations that just require you to pay for things upfront and urgently and you have to have the funds! Knowing you have a steady paycheck every two weeks (if you actually work your hours - pray you don’t get sick or face an emergency situation and miss work), having a credit card is not so bad because you can pay off the debt. The only challenge for most of us is to have financial literacy about wants vs. needs and how to save and invest.
I would not mind living in a credit card free world, like in Bongo, but then again an actual physical credit card and money transfered to your bank account as mkopo wa kuboresha biashara, are all the same. A debt is a debt in whatever form or shape it comes in and it has to be paid.
Cheers to me learning about credit cards.
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