Credit!!

This was another topic that was brought up in my Digital Media and Psychology class. We weren't told to write about it, but I thought I would anyways. I don't have all that much to say.

I'm not sure when the use of credit become popularized, however it is everywhere now. The ability to pay for something before you actually pay for it is very inviting. I know this from experience. I've never used any form of credit through a plastic card, though many times I've found that having a friend buy something so I may pay them back later is a lot easier than parting with my money directly.

I think I may have slight attachment issues to some items, and money being one of them. I know it is no use if it not spent and I am not saving up for anything in particular. I just don't like to spend it. I don't have a reason to spend it yet. I'm sure once I'm living out of my parents house my ideals will change because I will have a need to spend money. At the moment I can live without it, and find entertainment without it. I always wonder why people complain there isn't anything to do in my town, and many times I've heard there is lots to do but only if you have money. I know I can go out with some friends and have a great time for free at any time. The use of credit allows that entertainment to be found anywhere that may charge for it.

Why not pay later, if you can put responsibility aside and deal with it later. Procrastination is over used by our generation, I'm decently one of those who abuses the concept.

Although, using credit is not a bad thing in itself. If used properly, it builds up your credit rating. I'm not sure how that works entirely, but I know a high credit rating is a good thing. The problem with credit, even more than it's convince, is its interest.

If you put money in the bank, it will grow due to interest. If you put debt in the bank, it will grow due to interest. The more you use your credit card, without paying it off, the more it grows. The interest is also compounded. This is considered a good thing in banking, for if you are in the black (positive) your interest creates more interest. If you are in the red (debt) your debt creates more debt. Even if you use your credit card for small purchases, it will add up. Not paying off your credit card is a terrible event and the credit card companies know this. They love you being in debt.

If you are in debt, you may be able to make a minimal payment. That's great. They get money flowing into their pockets continuously. As long as you are making the minimal payment only, and your interest will keep compiling.

I might finish this later, I might not. If anything I just wanted to kill time in Digital Media. I didn't really want to be here today, but I showed up and stayed most of the time anyways. Now it is time for lunch.

== Bugworlds