Saving on Credit Cards

[raaman]

Think about your credit cards. Keep them with the highest interest charged cards at the top. You have to pay off these first, before you could save anything. Saving money will never help if you accumulate interest payments.

So it is better to keep the card that has the lowest interest rate in your purse and also use it in emergent situations only. Take into consideration the amount you need for your day to day expenditure.

Do not spend unnecessarily on eating out or on expensive clothing. There are things you need to keep your family fed and healthy. Spend half of your real income on essential things. Use the rest of your real income to start paying off your credit cards.

 

[btaliat]

In my country, we only have debit card or let me say I have only seen debit card. However, someone with credit card has to becareful on the way they spend. I could remember how I almost wasted money online buying even what I don't need because I have my card with me. This started affecting me my sshujf culture until I need to put measure in charge.

 

[arunima25]

I use credit card as my main source of transactions. I use debit card only to withdraw my money from ATM.Though I use credit card, I make sure that I keep tracking my expenditures and nothing should go beyond my allocated budget. I prefer to use credit card as it earns me credit points and rewards. I always redeem them to something good. I have bought a few kitchen appliances using them and also booked a few flight tickets for free.

 

[Alexandoy]

I have 3 credit cards - a visa, a mastercard and a bank card (that is not popular). I use the visa card for purchases in the supermarket and for gas of the car. The mastercard is mainly for dining out and other expenses like domestic trips. For trips abroad I use visa. The 3rd credit card is for emergency use when one card is not functioning.

 

[Setho]

I have always understood that the credit card is one of the main reasons why I usually spend large amounts of money so I just try to keep it away. If it is not a must a majority of my general spending are actually in cash and at the local stores not online.