Posts Tagged ‘credit card’
Easy credit, easy spending
I read with much interest today’s main page article in TheStar. It is quite disturbing that more than 40% of our 8.8 million credit card holders only manage to pay the minimum balance. And apparently, based on the article, it has gotten worse! I must wonder if these credit card holders appreciate the amount of debt that they are collecting and how much more they are actually paying for their purchases, if they continue to service their debt only by paying the minimum amount. As such, I have done some brief calculations and would like to share the results here for those who care to read or take action in strengthening their money management. Read the rest of this entry »
