Think Cash and Carry

Dude, that new MacBook Air looks so-o-o cool. The thing only weighs 3 pounds—less than my board. And, it’s only three quarters of an inch thick. They start at $1799…. I’ve got $300 and the rest can go on my credit—

Hold it. Do you have any idea how long it will take to pay off a $1500 credit card balance? At 18% interest, making only minimum payments each month? Let’s see, rounding off to the nearest year…almost 14 years. By then, you’ll be out close to $3700, including interest (and that laptop will be an antique).

Starting right now, stop using your credit card for things you can’t afford—that is, anything you can’t pay off that month. While you’re at it, make an aggressive plan to pay off any existing credit card debt using CNNMoney.com’s Debt Reduction Planner. Your financial future thanks you in advance.