COSTLY MISTAKES
THE REALITY OF CREDIT MISUSE
FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS

with Sandy Hornor | CEPS
Managing Director, Wealth Management &
Executive Manager, BWFA

and
Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS, 
Financial Planner, BWFA

About This Episode

Credit cards are convenient, but without careful management, they can become a financial trap. In this episode, BWFA’s Sandy Hornor, Jr. and Tyler Kluge discuss how misusing credit cards impacts long-term financial health—and share strategies for avoiding costly mistakes.

Full Description

Credit cards offer convenience, rewards, and short-term flexibility. Yet for many, they also become a source of debt and financial stress. High interest rates, overspending, and missed payments can quickly add up, making it harder to save, invest, or plan for retirement.

In this episode of Healthy, Wealthy & Wise, BWFA’s Sandy Hornor, Jr., and Tyler Kluge discuss the hidden risks of mismanaging credit cards. They explain how carrying balances month after month erodes wealth and why relying on credit for everyday expenses creates long-term challenges. The conversation also covers the impact of late payments on credit scores and how that can affect borrowing costs in the future.

Listeners will learn practical strategies for using credit responsibly. Sandy and Tyler share insights on how to avoid common traps, such as making only minimum payments or applying for too many cards at once. They also highlight the importance of budgeting, paying balances in full, and using rewards programs wisely.

The key message is that credit cards are not inherently bad—they simply require discipline. With thoughtful use, they can provide flexibility and even benefits. Without discipline, they can derail savings goals and put your financial security at risk.

At BWFA, we help clients make informed decisions about debt, savings, and long-term planning. This episode offers actionable advice to help you avoid the pitfalls of mismanaging credit cards and build a stronger financial foundation.

For more financial planning resources, visit BWFA’s Financial Planning Services.