How to know when to stop?
Posted By editor
Date: January 10th, 2010
Category: Credit Management News, Financial Advice
by: Christine Zafra
A lot of people use credit cards nowadays to purchase goods, whether online or not. Some even have 2-3 credit cards at hand and in the end, they regret that they have acquired such. 1 credit card is actually enough if it’s for personal use.
A lot of people only see the good side of it. Others see the cons but of course, they choose to be blind about it since it’s convenient to have “plastic money” at hand. The interest fees of these credit cards are enormous. Since the economy nowadays is not good, companies lay off often. If you were hit by the laying off of the company you were into, and you have little money in the bank (not enough to pay for the credit cards), then by all means cut it. There is nothing more satisfying than sleeping at night without a heavy burden pressing on you.
Photo taken from http://www.nicholsoncartoons.com.au