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Life is a matter of balance between living in the present and planning for the future, especially when it comes to money. Whether you live life in a permanent residence or you are a world traveller who changes locations every few weeks, finding the right balance between spending and saving is necessary for survival.
Many people rely on credit cards to treat themselves to special events in the present, while others unfortunately use plastic to pay for mandatory expenses like food and household bills. Provided the credit card statements are paid down in full at the end of each month, you can maintain a healthy balance of spending for what you need, while ensuring you don’t get in over your head.
However, if you can reduce the amount you pay back on your credit card and subsequently line your pockets with the savings, it benefits you to do so. The best way to save on how much you owe when using plastic is to compare credit card rates online.
The internet makes finding the best credit card for your unique situation easier than ever before. Online credit card comparison sites allow you to view credit cards via lenders, rewards, or their corresponding interest rates to find the card, plan, terms, and conditions that most appropriately fit your lifestyle.
This is a valuable new way to find and manage your credit card expenditures. In the old days, you were required to meet directly with bankers or creditors to negotiate what both sides feel is a fair and affordable plan. Unfortunately this process requires you to take time out of your day, in extreme cases hours from the day, which can cost you more money than is necessary.
On the other hand, reviewing the options from all available creditors online takes only minutes, and allows you to make your decision without feeling pressure from a financial institution. This way, the power is back in your hands, and provides you with leverage to make an informed decision that is most beneficial for you alone.
Striking a balance between spending and saving is a fine line that can prove difficult at times, but technology can make the process more convenient and more rewarding.
Hi Pauline, Yes one needs to maintain a balance in terms of spending and saving using credit cards. Do not spend more than what you are capable of paying. That is one of the cardinal rules in the use of credit cards.
Credit cards are evil. I think it’s best to stay away unless you could pay it off every month or you can earn higher interest than the borrowing rate, which is… nearly impossible.
Although I don’t like debt at all, I’m ok with the use of credit cards since it’s always paid in full each month. They can also provide benefits like reward miles. We’ll actually be using those reward miles for a trip to Japan this year! So credit cards can be a great financial tool if used properly.
Japan, how exciting! I’d love to have a card that gives miles and hotel nights, but in Europe they are not as good, I guess because people handle credit more responsibly so companies would go bankrupt if they offered such perks!