Choose the right credit card for your spending

In a moment, some more Money Matters.

But first; Balance

Life is hectic at home with two teenage Kids. There is never enough time to do the things that need to be done, and often our ‘social life’ seems to revolve around Nathan and Emily’s sport.

However, let me be clear – when we are out there watching Nathan play cricket on a nice Saturday afternoon, or Emily playing volleyball, there is no where else we would rather be!

Time with our Kids is precious, the jobs will just need to wait.

What are your thought? Tell me about some special times you have had with your Family.

Best Regards

Maurice

Choose the right credit card for your spending

Do you prefer to pay by cash or by credit card?

Using credit cards rather than cash to buy things can have both its advantages and disadvantages. It is useful not to have to carry cash around with you; however it is also extremely easy to spend more than you should on the plastic.

Sticking to your budget and making a smart choice of credit cards can mean you can enjoy the convenience and added advantages credit cards have to offer.

Credit cards can be divided into two main groups: those that offer interest-free periods and those that don’t. Generally, those that do offer interest-free days (remembering that there are no free lunches!) tend to charge either a higher rate of interest after the interest-free days have expired, or charge an annual fee for the privilege.

There is a third kind, called a debit card. Although it is not strictly speaking a credit card, it is a safe and economical alternative for smart money mangers that only want to use a credit card so that they don’t need to carry cash with them.

To select the card that is best suited to you, evaluate your lifestyle and spending patterns and match it with the correct card type. This is absolutely vital to keeping card costs to a minimum. Not only will it help you control your card credit, but all your personal finances too.

If you must borrow for an extended period from your credit card, go for a card with a low interest rate. (More importantly, make an appointment with a financial adviser to design a plan to get you out of debt.)

If you’re a transactor, and pay each month in full, take the benefit of interest free days and added benefits of rewards programs etc. or use a debit card.