Blueprint for Financial Prosperity hosted Carnival of Debt Reduction #13, and No Credit Needed’s article is the topic for this week’s flashback:

The value of waiting

NCN likens a credit card purchase to eating cotton candy.  I like cotton candy while I’m eating it as much as the next guy, but I agree that it goes down really easily, just melts in your mouth, and gives you a buzz, right before it makes you sick to your stomach.  Credit cards are like that.  They’re so easy to use, it doesn’t really feel like you’re spending money, and you get what you want right then and there.  But then the bill comes.  And the interest payments if you can’t quite pay off the entire bill.  And the debt.  And the lowered standard of living as the balances on the cards increase. And on and on.

So why not just wait?  It’s not quite as much fun right now, and it doesn’t always taste as good to save now, but in the long run it’s better.

• Debt reduction tip: Expect the rules to change Do you have an emergency fund?  You do?  Great!  You may have to draw down on that emergency fund to throw extra money at your credit card because the issuer changed the rules on you! It's no secret that banks are bleeding and buckling under the weight of huge losses. ......
• Debt reduction tip: Make a plan to do something easy It's New Year's Eve and a time for resolutions  It's a time for fresh starts, for new commitments, for laser-sharp focus on all of our ills. It's no better time than the present to make a plan right now, but since this particular right now coincides with the new year,......

• Paying Off Debt And Saving Money Can Be Done At The Same Time. I have been reading a lot of posts at financial websites lately about the trouble people are having paying off their credit card debt while trying to save a little extra money for themselves. First of all, anyone doing their best to pay off credit card should be commended, as......
• How to Pay Off Your Card Credit cards create for their users a cycle which is vicious: charging for items when you do not have the money, and then finding it very hard to make the payments due to high interest. The average, in the middle, debt that is held by an American is over eight......