Paula Nelson: Credit Cards Supplement

Posted by admin on Tuesday, January 29, 2013

Paula Nelson Money Quotation saying credit cards entice us when we haven’t got the cash for things that could wait until we had actual money – this sinks many financial boats. Paula Nelson said:
 
A credit card is a money tool, not a supplement to money. The failure to make this distinction has supplemented many a poor soul right into bankruptcy Quote
 

“A credit card is a money tool, not a supplement to money. The failure to make this distinction has supplemented many a poor soul right into bankruptcy” — Paula Nelson

 

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In this quote, Paula Nelson is warning about the danger of misusing or misunderstanding the purpose of credit cards. She argues that a credit card should be viewed as a “money tool”, meaning it allows one to make purchases and payments over time in a convenient way when used responsibly.

However, many treat it as a “supplement to money” by spending beyond their means. Nelson’s point is that credit cards are not intended to serve as a replacement for having adequate funds, but rather a tool to manage money more easily when one does have the means to pay.

She says the “failure” to grasp this distinction between credit as a tool versus supplement has led many into financial ruin or “bankruptcy” by spending more than they can afford and accumulating debt they cannot repay.

So in essence, the quote conveys credit cards are best used carefully as a payment instrument, not a way to artificially inflate one’s purchasing power through borrowing.

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