Use Your Credit Card Wisely
Mighty)
Your wallet may be home to one of the most wonderful creation of 20th century banking—the credit card. Yet, if you cannot control, it can easily become the atomic bomb of your wallet. This is why I came up with three ways to use your credit card wisely.
Our capitalistic and consumerist society has a very common source of power—money! Credit cards create the illusion that you have money. If you are not wise, you’ll be hooked. Be wise. Here are the tips on how to use your credit card wisely.
Keep only one credit card. Keeping several credit cards is a shoppers’ dream! But come payment time, you’d wish you simply stuck to your good ol’ faithful single credit card. Less cards, less troubles. At least, if you have a single credit card, when it is maxed out, you have no other card to take from your pocket.
Have a monthly financial plan. The key to using your credit card is in the planning. It doesn’t really matter if you have one, two, or five credit cards. What matters is how you use them. If you have a monthly financial plan, you have an idea of how much you can pay within the month and how much you’ll have to carry over next month. As much as possible, the best option is pay everything off the bill. But if you’ve invested in a big purchase like a coffin-sized freezer, then it’s alright to defer the payment for next due date.
Leave your credit card when you go out. You know you’re an impulsive buyer if you keep bringing shopping bags home every night when you knew that you didn’t really need nor want the things that you bought. In that case, it would be wiser for you to leave your credit card when you go out with friends.
Your credit cards may help you purchase big and good things. But if you get bogged down by your spending habits, then it’s time for change. The above tips on how to use your credit card wisely are a good beginning as you continue to think about using your credit cards wisely.
| 2.9 |