Mortgage Mike’s view on…Credit Cards

For many, uncontrolled and lavish spending can be just as harmful as any other addiction. For those who face this challenge, credit cards should be avoided at all costs. However, when used for convenience or as a tool to accumulate sky miles and other benefits, credit cards can be a useful part of a healthy financial plan. This requires the balance be paid off at the end of each billing cycle and that the temptation of spending beyond what can and will be paid off each month does not create financial hardship.

When committed to a lifestyle that follows the 4-step financial plan that I teach, having a credit card on hand will not likely create problems. However, I generally don’t endorse the use of credit cards and have seen many families destroyed by uncontrolled spending. If you feel that this may be an issue for you, take the first step and cut up all credit cards. What it may save you in the long run can be more valuable than anything money can buy. To learn more about my 4-step financial plan, visit

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