Five harmful ways to repay credit card debt
Now credit card is become more popular for purchasing.we purchase the things like soft drinks,food and T shirts other consumable things.we don’t think that these things can be purchase by cash.you will be shocked when you know what rate of interest you pay on the credit card debt, and the way it is calculated.Let’s look what you do when you have got into debt
1.You surrender your long investment plan like insurance and other investment plan.
2.You paid your debt from your savings for your child’s education,or marriage.Do not break this investment.
3.You mortgage your house credit card is a unsecured short term loan don’t convert it into Long term secured loan.
4.You withdraw from your provident fund it is a very stupid act the government is giving you more interest for your future and encourage you for saving.Don’t borrow money from you Provident fund except for an emergency.
5.You stop your systematic investment plan and use money to pay your credit card bills this money was for your investment . Please don’t it and always follow your systematic investment plan.