Resist the allure of easy credit

The ready availability of credit cards comes as a mixed blessing for many consumers. Using targeted marketing practices, financial institutions make obtaining a credit card easy, as long as minimum lending criteria are met.

This is a double-edged sword. For the undisciplined and easily tempted, the allure of quick money is hard to resist.

While banks are willing to lend you their money for a set period, failing to pay off the cards in full quickly results in a quagmire of debt and financial woes, which tragically can have severe repercussions.

If you must use a credit card, make sure to pay it off every month. Avoid carrying over balances from month to month, allowing your indebtedness to grow.

And don't be seduced by introductory offers. There is no such thing as quick and easy credit. Where possible, save for your purchase. Cash remains king.