Lesson 6: Avoid the #1 Money Mistake | Paula Pant

Credit cards come with spending limits. But those thresholds are rarely in sync with what you actually have in your bank account. And Paula Pant, host of the Afford Anything podcast, has seen far too many people lose sight of that disconnect and charge their way into debt. In this video lesson, Pant lays out what to avoid when it comes to credit card use. Never get into credit card debt. Avoid any high interest debt, no matter what. As long as you’re not spending money you don’t have, you can never sink yourself below zero. It’s perfectly fine to have a mortgage, a low-interest car payment, or a low-interest student loan. Credit cards can spiral out of control very quickly. If you do have a credit card, make sure the balance is paid in full every month. If once a month is hard to sustain, pay it off every day, every couple of days, every week, or get rid of the credit card entirely. Use debit cards or cash until you’re able to manage credit card spending responsibly. ---------------------------------------------------------------------------------- Go Deeper with Big Think: ►Become a Big Think Youtube Member Get exclusive classes and early, ad-free access to new releases without leaving Youtube. https://www.youtube.com/@bigthink/membership/ ►Become a Big Think Web Member Get the entire Big Think Class library, premium print issues, live events, and more. https://bigthink.com/membership/ ►Subscribe to Big Think on Substack Get all of your favorite Big Think content delivered to your inbox. https://bigthinkmedia.substack.com/subscribe/ ---------------------------------------------------------------------------------- About Paula Pant: Paula Pant is the host of the Afford Anything podcast, an award-winning show with more than 24 million downloads. It was named by the New York Times as one of “7 Podcasts Your Wallet Will Love.” She is also the founder of Afford Anything, a personal finance brand with more than 75,000 newsletter subscribers. She is a Knight-Bagehot Business and Economics Journalism Fellow at Columbia University. Pant is frequently featured in financial media including Money Magazine, the Washington Post, Oprah.com, CNBC, Fortune, Marie Claire, Marketplace Money, Men’s Health, Real Simple, Outside Magazine, Cosmopolitan, the New York Times, and more. She’s spoken at the “Talks at Google” series and guest lectured at Georgetown University. She lives in New York City.