Should I get a personal loan or a credit card?  What is the difference?  What is the better option? This is a subject of confusion for many people.  It is a bit like the difference between a direct debit and an automatic payments:   https://draft.blogger.com/blog/statspost/all_time/1922579775687278317/5890095679920893730   Until anyone explains to you the difference you have no way of knowing. Today I am going to explain the difference between credit cards and personal loans. When it comes to repayments there are a number of issues at play.   A personal loan has set payments for a set amount of time.  Payments remain the same (provided they are made ontime each month) regardless of if you are at the beginning or end of the loan.   A credit card has minimum payments that differ each month depending on interest rates, how much is owing in total and a number of other issues. Early repayments A personal loan...

Many families, including mine, have spent years in credit card debt.   So much temptation out there, so many "things" that become needs really quickly.  Needs we cannot afford.  God knows I have struggled to bring up my family in a way where they didn't go without.  We all seem to have this belief that we need to provide a world for our children that is better than what we had.  Why?  My childhood was perfect, I don't think I went without, but if you ask my mum, she would tell you we always needed more, and things could have been better.  As mothers it seems to be embedded in us, we need to supply everything our children could possibly want.   This, almost always, results in us getting credit cards, and/or store cards.  Then we proceed to pay the minimum payment each month, in fact, some months we struggle to do that and suffer the penalty rather than go without anything for fear of someone finding out!  We always believe that ...