I’ve personally resisted credit cards because my family has had a history of thinking of credit cards as cash. I almost got one last week but got cold feet when I realized that the only reason I’ve been able to save around 20 percent of my pay is that I can’t buy stuff online. I really like buying things but credit cards go against one of my principles of truly living in the moment (post about this in the future).
So in a nutshell, while the interest rate on your credit cards is going up, the return on your investments has been going down. You know what they call someone who keeps on giving money to their stockbroker, mutual fund or 401k, but doesn’t pay off their credit card balance in full every month, BROKE AND STUPID !