Keeping A Minimal Use Of Credit Cards When Buying Something
Whenever you need to go and buy something or pay for something
, you need to consider security and therefore the mode of payment comes into the picture. People will normally prefer credit card money to carrying bulk cash.
Whenever you shy off the math and end up spending the wrong way, you will start counting debt. People end up in debt because of unchecked spending and lack of discipline. The following are some advantages and disadvantages of credit cards.
There is a risk factor when you go to buy something that costs a lot and want to pay with bank notes. Walking with money in a bag could be something we see in fantasy movies but in real life, it is very dangerous as anyone can follow you and do something stupid. A credit card is a smarter means of doing it.
There are some rewards for using credit cards to pay for purchases in some shops. You will be able to build more bonus points in certain promos and get dinner vouchers or something. This is becoming popular with retailers who have a redeem points scheme. These will give you free products.
One thing many people will agree about credit cards is that it has it itches our pockets to have them in our wallets. They are always trying hard to get out of our pockets and swipe through that shop owners machine. As a result, we slowly slide into debt. When it is time to settler them bills, we get overwhelmed by the dizzying figures we see.
Furthermore, a bank will push you back by a good 10% for any delays you make in payment. This is charged daily.
You should realize that failing to pay up all those bills within one month from the time they were charged to you would make you liable to settle bigger debts that have accumulated.
It is advisable to be a bit shrewd, cling to the plastic money, and let the cash money do all the spending. Do not walk with your credit card everywhere you go. That is a sure recipe for unplanned spending.