Saving Money Two Ways Credit Prevents You from Saving Money

[Good-Guy]

Saving money is a kind of good habit that leads to having more money in the end. People who save money end up being more economical. I consider saving money as important as earning money. There are many steps which you can take in order to save more money.

1) Avoid Using Credit Card

Credit card is a kind of card that allows you to buy items on credit. Many people might think that it is appealing, but credit card is not a kind of thing that will help you to save any money. Many credit card companies or banks charge you interest when you buy items. This interest adds up in the end and it will lead to huge debts. What's quite worse is the fact that credit card companies repeatedly increase interest rates each year and this will add to your debt.

2) Avoid Purchasing Items Through Credit Terms

Credit terms refers to purchasing items on credit basis. You buy items and then pay for those items later on. It might seem harmless, but in reality it might increase your debts. This is because you may not realise how much money you have spent and you might be tempted to buy more and more items on credit basis, as you do not need to pay upfront payments.

 

[Carpon]

Yeah it is true that credit purchase and withrawal is detrimental to savings.
Let's take an example that you purchase items on credit and you get paid. All your money will be channelled towards settling the debt and at the end of the day you will come to the discovery and realization that the amount remaining with you may not even be able to take care of your immediate needs not to talk more of getting enough to save.
I strongly stand against and object the Idea of credit purchase because of how it cripples you and makes you feel as though you ain't even earning.