How many of us out there own credit cards? How many of us applied for one even when you jolly well know, you do not meet the requirements? Correction - how many banks out there approved your application even when you do not meet the most basic (and important) requirement, your annual salary. If you had your hands virtual up for both my question, may I ask, how much in debt are you right now? Right now I'm looking at a Debt Management website that has practically all the answers to debtors' worry.

The websites acts as a resourceful search engine for the best loans and bad credit remortgages in UK (unfortunately). Many people are not applying for one sensibly. Many people waste money on not searching for a loan that offers the lowest interest or they don’t take enough care in making sure they can afford the repayments which is crucial cos' you may be in a whole other debt problems because of that.

For a spendthrift like me I foresee the need to take up loan one day to pay for erm... my lifestyle. Do I want to tie myself down in debt like that? Its like buying a car or a house and paying in installments. You'll owe the bank for life. Of course it might not be the case for say study, vacation or renovation loans. Since these loans are somewhat possible to pay up, its important that I do my research before getting myself in debt to the grave.

In short, I would advise you to spend wisely. If you can't afford something, using your credit card (other than for emergency, and by emergency I mean life and death situation) for your purchases is just gonna spell trouble in your wallet. Now, where's my scissors...

Labels: money