A great cocktail is a fantastic way to relax after a long day, but multiple cocktails and easy access to your credit card can amount to credit bills that you cannot afford. It is important to understand that when you drink, you become more impulsive and your inhibitions slip and this can result in spending way too much money. As you already know, maxing out those credit cards can get you in a world of trouble that hurts now in the form of high credit card bills, and in the future in the form of a poor credit score.
Credit Cards Make Online Purchases Quick and Easy
In today’s economy, there are credit cards available for almost all credit levels, making it easy to get one. If you have credit cards, you are aware that it is easy to see something you want and charge it. This is even easier when you are drinking and feeling more care-free than you normally do. When you shop online, you can quickly add items to your cart, type in your credit card number, security code and expiration date to purchase just about anything that you could possibly want.
Drinking and Shopping Can Lead to Poor Decisions
There are many stories associated with the woes of drinking that you can laugh about the next morning. However, impulse buying due to drinking can harm your financial standing, making it no laughing matter. Since you can shop on your smartphone these days, it is easy to get tipsy, get comfortable and start shopping. You want a clear head when you are shopping so that you only buy things that you can truly use. Those impulse buys add up and can lead to you owing a lot of money.
Credit Issues Associated with Drunk Shopping
If you do too much shopping, you will eventually find yourself with credit card bills that you are unable to afford. Debt accumulates quickly and easily and this is why so many people get so overwhelmed. Every unnecessary purchase on your credit card results in money spent that you may need to pay interest on. That $100.00 impulse buy can quickly become $120.00 or $150.00 if you are only making the minimum payments on your credit cards each month.
Debt translates into issues with your credit score and a poor credit score makes it hard to get loans, future credit cards, a mortgage and other lines of credit that are often necessary throughout adulthood.
While the purchases discussed above certainly work to start great conversations, you do not want to wreck your credit buying frivolous items. Be mindful when you are planning to drink and keep your credit cards out of reach. If you have a habit of shopping while drunk, consider having a trusted friend keep an eye on your wallet until you sober up. This will prevent you from buying things that you do not need and spending money that can quickly put you into debt.