CASH DIET

For those who are in credit card debts, this could be a pretty good new year resolution: go on a cash diet.

one of the most common reasons people use credit cards is because of the rebates/discount. BUT, the usage of credit card is one common factor attributing to emotional spending – because you simply do not feel the pain of paying. It also explains how people are ‘able’ to pay for it. not.

And to put things into perspective, if you owe $5k on your credit card, do not charge anything further to it but only repay the bare minimum every month, the total interest you would have paid at the end of the final repayment is $2,957.

Have a debt? Go on a cash diet and clear the OS fast.

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