Personal finance: learn to use credit cards betterOn September 2, 2019 by admin
Learn to manage personal finances: workshops on credit cards
Personal finance is an issue that we should all know how to handle. Unfortunately, financial culture in Spain is scarce and few people give the importance of this issue. Therefore, in this article we will explain what a personal finance workshop consists of.
Personal finance workshop: learn to manage your money
Do you think you manage your money well? It is important to know how to control expenses in different formats of money. That is, knowing how to use both credit and debit cards or physical money.
There are times that, for lack of good management, you can end up in debt by spending more than you can return. Especially happens with credit cards, but there are more products that can generate this problem.
Control credit card expenses
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On this occasion we will focus on publicizing the existence of workshops to learn how to use credit cards in a responsible and consistent manner . Some finance experts teach courses to promote the responsible use of these products.
According to these experts, users often underestimate the expenses incurred with these cards. They indicate that few people write down what they have spent, which leads them to lose their account and have to face debts they cannot pay.
They also refer to the fact that many think that having this product is synonymous with liquidity . However, it is not necessarily. Many companies have very lax requirements to grant these products. In this way, there may be people who do not have the capacity to face high payments with unlimited credit cards or with high limits.
What to do when contracting debts that cannot be paid?
The answer is to make a list of all the debts that are had with different institutions. Once these debts are located and identified, a fixed amount of the income will have to be allocated each month to settle these accounts . Moreover, if you have other income, the ideal would be to use all the money “left over” to pay these cards.
And when is the debt not even exceeded?
If you see that day after day and month after month the debt of your cards does not stop growing without you being able to pay them off, you can value other emergency financial products . In this case we refer to loans, micro loans, online loans and fast credit .
These financial tools allow you to obtain a not too high amount of money quickly and easily. You can use it to pay off a card debt and keep it from growing in interest. In addition, many companies offer the first interest-free loan .
Now that you know these tricks, you will improve the management of your personal finances.