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let me ask you a question it is very easy to create debt on your credit card or with personal loans or by going overdrawn on your bank account.
you buy a holiday and pay it off later or you take out a loan to buy a new car, say, and the repayments at the time look affordable, so that's okay.
but once you have a debt of some kind, it's very easy to get into the habit of buying stuff now and paying for it later.
it's also much easier to get caught out when a financial emergency happens such as when the washing machine breaks or you need to repair your car or your home or whatever.
when that happens, it can cost a lot of money to fix it, can't it? and that's when you suddenly realize that you've broken your card credit limit or you can no longer afford the repayments.
your personal debts now consume a significant amount of your income in the form of interest that you have to pay off every month , thus restricting the amount that you can spend, save and invest.
do you realize that the average annual interest rate on credit cards in north america, europe, uk and australia is 17% to 18% ?
that's right, when you borrow on a credit card, your card provider is charging you 17% to 18% intere...read more detail...
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