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Word Count: 729
A credit card can be a great convenience Further it is easy to acquire However if it is not used prudently the card can become ones greatest financial adversary In todays society it is easy and common to charge ones purchases to an account or credit card However paying for the purchases when the monthly bill arrives can be more difficult By simply reading the newspaper we become aware that the availability of easy credit has given rise to serious problems When the newspapers regularly carry articles that report bankruptcies it is evident that consumer debt has become a problem for todays society Overextending oneself as Tammy has done several times is one way of misusing credit When Tammy sees something that she feels she must have she will purchase it without further thought For example on one occasion she purchased a new Nintendo system for her son although he already owned one During a recent Christmas season Tammy badly overspent on gifts She accomplished this by purchasing as gifts for her children everything that they had wanted She did not forget her husband Tammy purchased for him the 20000 St Louis Blues jacket that he had wanted in addition to a 30000 diamond ring Tammy is aware when she makes such purchases that she will not have the money with which to pay for them when the monthly credit card statement arrives Nevertheless she does not appear to consider that she will become increasingly overextended financially by not paying her credit card purchases promptly Her indebtedness grows However when she purchases a new vehicle she is surprised to learn that she must pay an interest rate interest for her car loan that is almost six percent higher than she had expected Buying unaffordable items is not unusual for Vannette She has fallen into this trap on numerous occasions Vannette is one who has always wanted to be keep up with the Jones if not
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