Opting for the Minimum Payment Changed My Life

Opting for minimum payment could lead to a devastating cycle of debt.
Opting for the Minimum Payment Changed My Life
Make purchases with a plan to pay the money back. shisu_ka/Shutterstock
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At the time, it seemed like a good idea. But going for the minimum payment option “just this one time” turned out to be the worst mistake of my life. The day I opened that door and walked through it, I altered the course of my life.

I reasoned that I didn’t have enough money to pay the credit card balances in full, so what was I supposed to do (oh, hear me whine)? I'd catch up next month and pay everything down to $0 before my husband found out. All I needed was a little breathing room.

Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM