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Spend Right, Not Spend Tight

Here is a powerpoint presentation that lists down do's and don'ts of using Credit Card. Click to know more.<br>

DiaSharma
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Spend Right, Not Spend Tight

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  1. SPEND RIGHT, NOT SPEND TIGHT

  2. Whether you’re a spendthrift or a shopaholic, possession of a credit card is almost always bundled with the dark cloud of debt looming overhead • Negligence and carelessness make it very easy to find yourself drowning in unnecessary debt • This is why you must practice the mantra of ‘Prevention is better than cure’ with the following handy do’s and don’ts of using a credit card

  3. PRACTICE SELF-RESTRAINT Always set a strict budget and never ever allow yourself to exceed it

  4. MAKE ON-TIME PAYMENTS FOR BALANCE EVERY MONTH • Treat the month-end payment time as a non-negotiable deadline • If you let yourself go, you’ll find yourself getting charged with late fees

  5. REMAIN WITHIN 30% OF CREDIT LIMIT • Never mind the rosary beads • Repeat this mantra religiously every day

  6. KNOW WHAT YOU DON’T KNOW • Make sure you are up-to-date with all the terms and conditions regarding late fees, default and interest rates so that you never find yourself in an avoidable fix • Consider lower interest rates- Always try to get the lowest and best rates possible

  7. DON’T USE IT TO WITHDRAW CASH • No situation can justify the ridiculously high interest rates on withdrawing cash using your credit card • It’s just not worth it

  8. DON’T MISS PAYMENTS You could very easily damage your credit score so always make balance payments in full on time

  9. DON’T BITE OFF MORE THAN YOU CAN CHEW Temptation is high when you can simply swipe to live a royal life but you might very soon have to trade in your leather purses for thrift shop ones when the bills come in

  10. DON’T FALL FOR SPECIAL OFFERS • ‘All that glitters is not good for your pocket’ • Every time you come across advertisements for protection against credit card frauds and the like, keep in mind that they are wholly unnecessary and you can very well do without them

  11. DON’T SUBSTITUTE IT FOR CASH • If you find yourself instinctively reaching for your credit card every time you drop by the coffee shop, you need to rethink your habits • It is definitely not a good idea to use your credit card for mundane purchases like food and drinks • They may seem trivial but they can build up over time and very easily lead to debt • Next time you decide to get a sandwich, ensure you’re carrying enough cash and save the plastic for bigger purchases

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