Try and refrain from using a credit card for any purchases that are not a necessity. Things want should he paid in full to avoid getting stuck in ungodly amounts of debts. I learned this lesson a little late but I did learn it ha. Try to be smart with your money. Also try to look for coupons online to knock a few bucks off of your purchase.
I use my three credit cards for just about every purchase I make and have never once been in "ungodly" debt. I have, in contrast, used the cards to spread payment for very large purchases on many occasions.
It is far easier to use cards than to carry around (and maybe lose or get robbed) heaps of cash or try to remember how much is available in my current account.
It is also extremely useful to use credit cards given that I only withdraw money from my company account into my personal account 3-4 times a year. This is so that the tax man will remain convinced that I am paying myself dividends rather than a taxable salary. It does mean that my personal current account can sink to very low so at times I only make a minimum repayment on the cards. Nevertheless, my tax savings are several times greater than any interest I pay.
As anything else, credit cards are fine if used responsibly.
That's a good advice for sure. But some people don't see scrimping as an alternative to have more savings; instead they want to earn more income in order to pay their credit card debts.
Online hackers aside, how about not using any form of electronic payment at all when buying gas or in any brick and mortar store? More likely than not there is a hacker sitting in the parking lot recording your transaction. And then you get to spend the next 6 months cleaning up the mess.
Happy Monday! First cup of late coffee in progress.
Depends on what you buy and from where. if you buy online then chose right trust website. If you buy from shop then look for quality.
All I am saying is if you have the money to make a purchase your better off rather then putting it on the card. I never carry cash, I only carry around a debit card. I just dont want other to make the mistake I did and just pile every purchase onto their credit card.
I know that having a credit card is helpful and very convenient but of we did not have to rely on them we would probably be better off in the sense that we know what we are buying and how much we have I'm the account.
I am by no means telling anyone not to use a credit card. Everyone is free to do what they want. I am just offering what I thought was a helpful suggestion
Forget to bring your list of what to buy. You will then over buy, under buy or just overall pay too much because you forgot exactly what you're getting. When you have a plan you can excute it well, especially if you have coupons
Here is my list:
Do not get trapped by promotional offers.
Do not buy produts because there is an offer.
Do not shop, if your voucher organiser is not with you.
Do not enter the store without a list.
Do not forget the credit card installments you have to pay monthly.
Do not forget each cent counts.
That's all from me!
When you are shopping, don't forget to ask for a cash discount. 5%
The store will not volunteer this discount! You need to ask.
I think a credit card is a great way to track spending, as long as you pay it off each month. I use the card for all the regular stuff, but if I want to get something frivolous and expensive, I take a certain amount of cash out of the bank each month until I have enough. I've always paid off my card in total each month (except that year I was living in Taiwan and kept getting my bills two weeks late...)
Someone probably already wrote this, but don't go grocery shopping when you're hungry! (And try to avoid those middle aisles as much as possible).
I almost always never use a credit card to make purchases. I use a few (like $20-$30) of the earnings from my online writing sites to buy something. My relative almost always uses credit, but she pays her bills on time. It's always about being careful with money.
I use my credit card for everything. I pay off the balance each month. I do this because I get at least 1% cash back on all purchases (with some purchases going up to 3%, with an additionally .1 - .3% bonus for depositing into a Bank Of America Account).
It's all about discipline. I know what I need, I know what I can afford. I pay myself first by having automatic deposits into savings and retirement accounts. What's left over I need to make go as far as possible. So when I make a purchase with my credit card, I transfer the cash out of my checking account and into my savings account. When the bill comes, I've accrued a few extra pennies of interest in my savings account, got at least 1% cash back and a .1% bonus, and I pay the bill in full a few days before the due date.
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I could hardly imagine how some would have lived with it !?
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