Young People Must Be Wary, These 3 Use of the Most Wasteful Credit CardsUncategorized
Young People Must Be Wary, These 3 Use of the Most Wasteful Credit Cards – If you want to be analogous, a credit card is like a double-edged sword. There are positive sides and negative sides. The plus side, you can have an item without having to pay a lot of costs up front. So, while you use these objects in everyday life, while you pay the installments. Of course, this alleviates the financial burden they have.
Conversely, the use of credit cards also has a negative side. Primarily, when you are overwhelmed paying off installments, let alone pay high interest. The use of credit cards that are not right will only plunge you into a debt circle where it will only burden your financial condition.
For information, there are 3 of the most extravagant use of credit cards, experienced by young people or the millennial generation. Find out below!
Young People Must Be Wary, These 3 Use of the Most Wasteful Credit Cards
1. Food and drink
On Friday, hang out at the cafe while drinking coffee with friends. Eat Saturday at the all you can eat restaurant. Treat Sunday friends for dinner because it’s their birthday. Not to mention other expenses relating to food and drinks. In addition to debit cards, credit cards are widely used for transactions. The term, eat first, pay later.
Because of the habit of frequently swiping credit cards as a means of payment for food and beverage transactions, it is often unaware that bills are inflated. Within a month, the cost to eat can reach millions. In fact, the salary is not much. The young people, let’s not spree. Do not also prestige bring your own lunch from home. Bringing your own lunch will save more expenses, you know!
On the other hand, there is no need to taste expensive food tasting to satisfy hunger. Once in a while it’s OK, even if you have adequate savings.
Indeed, technology is really familiar with innovation. Therefore, not a few young people who hunt for technology – especially gadgets – to enjoy the innovations offered.
To get the advantages in gadgets, there is usually an expensive price to buy. For example, young people are willing to spend $ 20 million to have an iPhone X.
Actually, the features offered are sometimes not very necessary. However, given that electronic goods are very closely related to lifestyle, it is not surprising that many young people are willing to spend their money. How about you?
3. Fashion products
For the sake of existence, young people usually buy various fashion products to support their appearance. Whether it’s clothes, pants, skirts, outerwear, hats, shoes, accessories, bags, and many others. Not to mention, lucrative discounts are enough to make anyone tempted to buy new fashion products, no matter if they just bought them.
When financial conditions are being trapped, credit cards are always considered to be a solution. There are the latest fashion products, buy them right away. There is a good item, also think to buy it. Bad habits like this can certainly affect your financial condition!
Of the 3 use of credit cards above, which do you think is the most extravagant? Now, instead of wasting money on needs that you don’t really need, it would be nice if you set aside 20% of income to save and invest.
Nowadays, investment has become a hobby of young people, you know! How come? Yes, there are many young people who have realized the importance of achieving financial dreams and financial freedom at a young age. One way to achieve this is by investing.
If this is your first time investing, try to invest online in P2P Fintech Lending such as MoneyWorks. Just set aside $ 100,000 to start, you can get a profit of up to 21% per year. Not bad, right?
Come on, be a millennial generation who are investment literate. The benefits will be felt in the future, you know! By investing, you can pay in installments, cover wedding expenses, prepare Emergency Funds, and Pension Funds.