Tue, Jul 31, 2007
The Straits Times
Credit tips
IT IS never too early to pick up the right money habits. Easy credit and other inducements raise the risk that the next generation will be saddled with debt and extravagant spending habits.The country sales manager for Ipac financial planning, Mr Bill Castellas, says: ‘Debt, like savings, plays a crucial role in our lives. It is not a bad thing when managed well.
‘But managed poorly, it can result in a poor credit rating that will be used to assess your eligibility to obtain a car loan or mortgage. Establishing the right money behaviour early will make life so much easier in the future.’
Here are some tips to instill responsible habits:
- Pay the full balance every month
- Charge only what you can afford to repay
- Use credit cards only in emergencies
- Make a record of all credit card purchases
- Pay bills on time
Click here to see FULL article online.
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- Why Young People Needs Financial Education
Other Updates in Library
- Rich Money Habit #12: Orrie the Ostrich
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- Rich Money Habit #10: Your Belief Systems Will Determine Whether You Become Rich, or Remain Poor
- Rich Money Habit #9: If You Want Different Results, You Would Have To Do Things Differently
- Rich Money Habit #8: The Rich work at building Wealth, the Poor merely try to survive
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I really liked the way they came off
Thanks for the tips. I will be sure to use them.
Hi Edmond.
I’m glad you find them useful.
Hope to see you more often.
Cheers!
Ryan