Using the credit card can be a great ally when it is managed with criteria, since it allows you divide payments, solve unexpected expenses or take advantage of promotions. But it also happens that if used without having prior planning, it can also become a very difficult source of indebtedness to handle.
Therefore, it is very important as a user to understand how it works, know its real costs and learn to integrate it into a personal or family budget. From the Province Bank They left six tips to take advantage of but Without falling into financial problems.
6 keys for the credit card to help the family economy
According to the bank, these are the best tips for any user:
Know how the minimum payment impacts
When only the minimum amount of the monthly summary is paid, the rest of the debt is financed with high interest. This not only includes rates, but also taxes and additional charges that form the Annual Nominal Total Financial Cost (CFTNA).
In many cases, as in Banco Provincia, this can be around 90%. The best is do not make it a habitsince in the long run it increases purchases and shrinks your financial margin.
Withdraw effective only if it is strictly necessary
While you can get money from cashiers with the card, it is still a expensive loan with a High interest. It has the same CFTNA to finance consumption, so it is actually used to use it only in urgent situations.
It is a very good option for the case of some emergencybut it can imbalaize more if you are already just with payments.
Get carried away by promotions
While discounts, fees without interest and reimbursements sound very tempting, the truth is that They should not be the main reason for a purchase. If that expense was not planned, the benefit can become counterproductive.
Budget your consumption by card
The ideal is Keep a record of your income and expensessince it allows you to have greater control. Including card expenses in that monthly monitoring is very important not to exceed you. You have to keep in mind that Your limit should not be the cardbut what you can really pay.
Check how many quotas you already have before adding more
While buying in fees can be useful in an inflationary context, the reality is that if you accumulate many, it is easy to lose notion of how much you will have to pay the following month.
The best thing is that Before making a purchase, check how many fees you are already paying. If you only pay the minimum, interest add to your debt and grow month by month.
Do not fill the plastics wallet
Having several cards seems practical, but it also implies more fixed charges and you will complicate the monitoring of consumption. It is easy to lose control and spend more without realizing. The best thing is that you stay with one or two maximum cards.
Source: Ambito
