How do I explain to my girlfriend that credit card debt is bad? I’ve tried telling her to pay off her balance in full every month but she ends up going into debt whenever I ask a couple months later

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It can become a real problem VERY quickly and then you are where I am in life a decade later with a large balance and it seems impossible to pay it down. With her still being young and not have a giant balance, please find a way to reach through to her. I wish I had been properly educated on finances at a young age, it it truly one of the most important lessons. She may not want to hear it from you, so have her read or listen to the audio books of some great personal finance advice authors. That is what I have been doing and it is helping, I am finally learning about true personal finances. Can’t imagine what my retirement accounts would look like if all the interest I’ve spent thousands upon thousands on had been invested instead. It is sickening to be honest. She is still young, she needs to turn it around quickly and stay out of debt. You are welcome to share my perspective with her.

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Using credit cards by itself isn’t the problem. Being financially illiterate, though, is a major problem. You don’t want to be with someone who can’t manage their finances.

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Def should not be a conversation y’all having unless you are married unless they ask for your advice. If it’s something you don’t like about your s.o might be time to get a new gf

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Do the math for her and help her see how much interest she is paying and how much the item truly cost by the time she pays 20% interest on it.

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Explain to her why instant gratification < long term investment (the $ amount it would become using the money she could have saved)

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Show her the math. It’s one of the most foolish financial decisions a person can make.

$300 purse

Cash cost $300

Credit card cost could be $500 or more


https://americancreditfoundation.org/articles/the-hidden-dangers-of-credit-card-debt/#:~:text=Let’s%20take%20a%20closer%20look%20at%20a%20few,your%20outstanding%20balance%20relative%20to%20your%20credit%20limit.

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Get a new gf.

funny

Mark a day on your calendar every month to go over her balance and make sure she pays as much as possible. The only way to teach her is to introduce this routine and stick with it. I don't think this would take much of your time but will be a huge help for her down the road.

Keeping some debt helps with her credit score as long as she pays it off on time. So does a car loan/lease. But also with the thought that at some point would be better to not have any debt. I am using about 8% of my credit currently. Plus mortgage and car lease. And student loans. My score is in the 800’s. I also do not expect my SO to pay for my debts. He has no student loans so I know I am responsible for mine.

Good to know!

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