Posted on: 6th October 2014 in Finance
We all like to indulge once in a while. Whether it is a sparkling new LED TV for bragging rights amongst the guys or a designer handbag to make your girlfriends green with envy – a credit card often seems like the solution to all life’s problems; a saviour who answers the call of the financially distressed. For some of us, it’s a crutch to get us through some tough times – and there’s nothing wrong with that. For some others, it becomes an obsession – the cause of an insatiable desire to acquire things in excess. It’s free money after all. Or is it?! If you aren’t careful, you can easily find yourself in over your head in credit card debt. Here are some useful tips to ensure you don’t. 1. Don’t take cash advances The interest rates on cash advances on a credit card are astronomically higher than those applied towards regular purchases. In short, don’t do it. As a consequence, you will find your debt levels slowing starting to become manageable after a while. 2. Read your monthly statements As tempting as it may seem to leave them in your letter tray or toss them in the bin, take a few minutes to read your credit card statement. Give it the once-over. Whilst perusing the list of transactions you may spot discrepancies that may save you a sizable amount of money over the long run. Better yet, seeing the amount payable on your statement might even help you restraint yourself from those midweek excursions to the shopping mall you know you can do without.We have 18 offices across the globe and we manage over $2billion for our 20,000+ clients
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