If you are not able to achieve your financial goals, there is nothing to worry about. In 2020 you can fulfill all your desires. We are going to tell you some of the things through which you will be able to save and help you achieve your goals. We often think of saving money for the future, but we are not able to do it. If you spend thoughtfully, you will be able to save money. Today, almost everyone has a credit card. Credit cards have many advantages, but it will be beneficial for you to use credit cards less to increase capital. Let's know-how.
Customers have to remember this thing:
When using a credit card, customers forget that it is not their money. There is money in borrowing through credit cards, which they have to return to the bank with interest. In such a credit card, many customers become victims of wasteful expenditure, making it difficult for them to achieve financial goals.
This was revealed by research:
The wasteful expenditure through credit cards can be estimated from this, according to research by MIT, people spend 18 percent more than their capacity when buying a credit card. Often people buy things that they do not need. However, when customers go to the market with cash, they spend thoughtfully.
GST on bill payment:
Credit card customers reduce savings and become expensive by nature. Due to high expenditure, most of their money is lost in making credit card bill payments. At the same time, if they make minimum payments, the outstanding bill is the first GST and sometimes surcharge. Therefore, customers should minimize the use of credit cards. The ability of the people of the country to pay is very good. 92 percent of credit card users definitely make minimum payments. So, their dues are increased. This has come out of a survey conducted with CIBIL of the Trans Union company.
Not using a Credit card too much will be profitable:
If a large part of your salary is going to make a credit card bill payment, it is noteworthy. If you want to make notable investments and big capital, the distance from your credit card can help you.
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