Some of the worst financial advice I received when I was 18 was don't get a credit card.

Some of the worst financial advice I received when I was 18 was don't get a credit card. Welcome to lesson 7 of 201 by 21. Now I get why people say it. Credit cards do have a bad reputation, debt, over spending, interest rates and for people who can't control their spending, that reputation is probably deserved. But here's what nobody tells you about credit cards when you're 18. If you use them correctly, a credit card can be one of the best money tools you can have. Let me explain. When I got my first credit card, I made one rule for myself. I would never buy anything with it. I couldn't already afford two times over. And I treat it exactly like my debit card. Same purchases, same spending. The only difference was which card I used to check out. And at the end of every single month, I paid it off in full. But for doing that, I got rewarded with cash back with reward points. Even stuff like deliver it credit. But it also helps you grow your credit score that will matter immensely when you want a mortgage or a loan or anything significant in your financial future. And it was those things that nobody ever told me. I was getting free money for buying things I was going to buy anyway. The people who get in trouble with credit cards treat them like free money. The people who benefit from them treat them like a debit card with the rewards attached. That's the entire difference. So if you're young and somebody tells you to stay away from credit cards, tell them they're wrong. Not because credit cards can't be dangerous, but because used with discipline, they are one of the best tools available to you. This was lesson seven my friend and I will see you tomorrow for lesson eight.