Spend Right, Not Spend Tight - PowerPoint PPT Presentation

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Spend Right, Not Spend Tight

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Here is a powerpoint presentation that lists down do's and don'ts of using Credit Card. Click to know more. – PowerPoint PPT presentation

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Title: Spend Right, Not Spend Tight


1
SPEND RIGHT, NOT SPEND TIGHT
2
  • Whether youre 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 dos and donts of using a credit
    card

3
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4
PRACTICE SELF-RESTRAINT
  • Always set a strict budget and never ever allow
    yourself to exceed it

5
MAKE ON-TIME PAYMENTS FOR BALANCE EVERY MONTH
  • Treat the month-end payment time as a
    non-negotiable deadline
  • If you let yourself go, youll find yourself
    getting charged with late fees

6
REMAIN WITHIN 30 OF CREDIT LIMIT
  • Never mind the rosary beads
  • Repeat this mantra religiously every day

7
KNOW WHAT YOU DONT 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

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9
DONT USE IT TO WITHDRAW CASH
  • No situation can justify the ridiculously high
    interest rates on withdrawing cash using your
    credit card
  • Its just not worth it

10
DONT MISS PAYMENTS
  • You could very easily damage your credit score so
    always make balance payments in full on time

11
DONT 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

12
DONT 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

13
DONT 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
    youre carrying enough cash and save the plastic
    for bigger purchases

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