Credit Repair - Tips & Tricks : Do you believe this quote?

Well, I think that people try to live off of their credit cards, like the old joke about paying my Visa with my Mastercard, but you certainly couldn't call it income. And then the hole just gets deeper and deeper. It's scary.

I think this is so sad and very true. People pay so much interest every month they could have a lot more income if they would just stop spending and start paying those off and saving for those "emergencies" they first started using them for.

The biggest problem with credit cards today is that many people think of them as income. They are not. They are simply a means to be able to leverage your future income. When a person uses a credit card to try to live better today than they can afford from their paycheck, they are asking for trouble. The truth is that they could have lived much better if they waited until they could pay cash for the item instead. What's worse are payday loans. Thousands of people go to payday loan stores and get advances on their paychecks that lead them to paying hundreds of dollars in fees and interest. I try to use my credit cards as wisely as possible. After all I have to pay them sometime and the longer I do not, the more stuff costs me. I suggest living off of 90% of your income and investing 10% in something that pays you interest instead of charges you. I'm sure there is someone living down the street from you who is living off of 90% of what you make and not homeless.