It Doesn't Have to be Painful to Pay-in-Full

These days, people who use credit cards are often provided with a great opportunity to borrow money for a short period of time for nearly pennies. In addition to the benefits of having a few weeks up until a few months to pay back what they owe, they can earn rewards like frequent flier miles, miscellaneous items, or even cash back. To come out on top, all credit card users have to do is one basic thing: pay-in-full.

That's all it takes to be a winner when using credit cards. Pay back - in full - exactly what you essentially borrowed from a company. What happens if you don't pay-in-full when the money is due? No legs are broken and no death threats are given. Interest rates are the "punishment" and more often than not, they are relatively high. So high, that some people may prefer physical pain compared to the mental anguish of owing companies 20-25% in interest based on the money they borrowed.

Why's it so difficult to pay-in-full consistently no matter what the scenario in life? It seems as though, "When the option is there, some people just don't care." Long-term financial suffering is easy to deal with compared to the immediate fear of not having money to spend. I understand that if times are tough and one needs money, that they can turn to credit cards to help out for a few weeks or a month.

The conflict occurs when the credit card customer lacks or loses discipline and accountability and splurges on the unnecessary purchases in life. If one can't afford non-essential purchases like fast-food, electronics, music, and entertainment, they don't have to cost 25% more long-term in order to have those fun things in the present. Why do they do it?

Buying things feels good. Shopping can be fun. Society says it's quite okay to borrow. So many people have interest in paying interest, but they probably lack the thorough understanding of what it all means in the long-run. Long-term; long-run; future - are they not thinking big?

Maybe they are thinking big. Perhaps they feel they'll be able to cover their current costs in the future. Right after they go shopping. Imagine what it would be like if instead of using credit cards, consumers had the discipline to only pay cash for their fun purchases. Now that sounds like fun.