If at all possible, new parents should try to avoid using credit cards. Why?
1. You spend more with credit cards. Most people find that when they shop with credit cards they’re more likely to spend more money than if they use cash, checks, or a debit card. 2. You buy things you don’t need. It’s so much easier to make impulse purchases when you have a credit card in your hand. Every new parent knows how easy it is to buy every cute baby item you come across. 3. You obligate future income. When you use your credit card you’re basically saying, “I know I can pay this in the future,” but nobody really knows that for sure. Take care when obligating yourself to pay something down the road. 4. You pay interest. Unless you pay your credit card balance each and every month you’ll wind up paying interest charges. Even if you have a relatively low interest rate you may still wind up paying close to $100 a month in interest if you have a high balance. 5. You might pay fees. Send a payment in late or exceed your spending limit and you’ll wind up paying costly fees. You have
