Saturday, December 30, 2006

Dont overspend this festive season

I was at Kodak yesterday, looking at digital cameras on promotion. We bought a Canon for a friend recently and now, i'm looking for something with 28mm lens. More suitable for my indoor shots. At the payment counter, nearby where i stood, i overheard the girl reminding her boyfriend not to use any of his credit cards to pay for their camera as they are almost busted. And that he hasnt settled his previous bills.

See, both the girl and boy are barely in their twenties. And already, the boy is having trouble with his finances. This is the one of the perils of having credit cards. I then heard the boy say that he will apply for a new card with those 0% balance transfers, free up one card and then can continue using it again. I believe this is not the first time he's doing this. This way, he'll only get deeper and deeper into debt with no way of repaying. It's downright scary when youths become bankrupt so young this way.

I hope youths can learn to manage their finances better. One should compare credit cards before signing up. Know what you need the card for. Credit cards can be more convenient than carrying cash, but try not to overspend during festive seasons when there are just too many promotions and sale going on at the malls. Resist the temptation to buy, buy, buy....

No comments: