Handling plastic money (Credit Cards in general)

Member Name: sanch

Product:	Credit Cards in general
Date:	30/07/08 (41 review reads)
Rating:

Advantages: buy anything anytime

Disadvantages: overindulge- spend more than can afford

What does the regular consumer have in mind, a genuine purchase at a sensible price? Of course purchasing of commodities and even concepts has become real easy after the introduction of the credit cards in the financial market. I am sure the economic graph of almost every country is on the rise and I am specially considering developing countries like mine (India). However the gap between the haves and the have nots is still huge. The middle class is still toiling 24*7 for that peak position in the hierarchy. Competition is also at its peak and zoom! Here come the credit card companies which attack the layman at his weakest moment...... The desire to possess the desirable. This unfortunately includes almost everything nowadays.

Do I blame the credit card companies for fleecing the purchasers? Well I think it's a sixty to forty ratio. The foremost blame goes to the companies for not revealing the intricacies of their plans and policies. Some of the direct sales associates they hire are actually buffoons who just sell anything anyhow only to increase their target sales. The poor man finds out he's been taken for a ride only after he gets his account statement. I nearly get a heart attack whenever I see mine, but of course mine is largely due to stupid spending.

We also can be held a little responsible for being ignorant most of the times, especially when it comes to expenditure. I mean how many of us can actually override our impulse to buy some of the things displayed beautifully in the shop windows? Let's curb these little desires and only go for the necessities. It's okay to indulge once in a while but please remember not to overindulge only because we have the plastic in our wallets. Saving wisely is the biggest investment one can make in a lifetime.

Finally, educate the young ones about the pros and cons of credit cards. They might be over awed by these little things and mostly by the control they command. They should realize the value of hard earned money. Credit cards are an inevitable proof of success but handling a credit card wisely is also an inevitable proof of a successful person.

Summary: spend wise