In all my years of money coaching, I have discovered a weird relationship between some people and their credit cards in particular. After speaking with a friend who is a psychology major about the matter my eyes became opened to the notion that because money is a spirit (mammon) that totally possible that anyone could be in a very real almost human-like relationship with their money no matter what form it was in. I knew money could talk and had a voice but never gave that piece a plastic a second thought. Big mistake.
Believe me, when I say I work with people who you would think would get very excited about paying off a credit card or receiving their new budget and realizing that they are not as bad off as they think they are but they don't. In fact, often time what should have been a life-changing moment from hearing me say congratulations you are approved for your credit card consolidation loan turns into a full-blown therapy session. It is if I had just sad that you have lost your best friend or a parent had died.
Then I began to give it more thought and prayer. Then I realized somethings that I had never realized before. Credit cards play a huge human-like parental/best friend role in our lives. In many ways, they have the same abilities to look out for us and take care of our needs the way a parent does. They are always there for us when we get into a financial bind like a friend does. And, they never judge on the way home from an emotional shopping spree.
So, when parting with or paying off a credit card(s) is almost like parting ways with a friend. When paying them off completely it just like saying your abandoning your parents. The exact same emotions are invoked in each case. Thus why many of us have no problems what so every paying thousands in interest over long periods of time simply to keep in our minds the relationship health and going.
Needless to say I have a new found understanding of the power of plastic. How by connecting itself to our character and desire to have a good name credit cards it become human like and builds a human like relationship with us to their advantage of course. This has to stop and this must change. We must develop a way to no longer see credit cards as an adamant object but a person or a whole company/industry of people in whom we must see for who they are and not what it is.