Family finances tips need to be considered for managing family finances. It is very important to be managed properly because the management of its finances determines family economic circumstances. One of the things that can be done is the use of credit cards. However, the credit card must be used wisely and with discipline.
Credit cards can be used as one tool to manage family finances. The advantages in the use of credit cards, namely:
- Practically used as a substitute for money with large nominal.
- Can pay the household bills.
- Can be used as accident insurance while traveling, without having to pay insurance premiums anymore.
- Can get insurance while experiencing discomfort while traveling.
- Can get 24-hour health consultations and get emergency medical evacuation facilities.
- Getting the Executive Lounge facilities. If you have a credit card type of gold or platinum, we can enjoy in the lounge area located around the world. As well, enjoy a variety of offerings for free.
- Reward program available.
If there are advantages certainly there are shortcomings that need to be considered by you. It should be understood carefully, namely:
- The cost is huge, because the credit card is not a debit card.
- Credit card is not an emergency fund. Savings fund will be used to reimburse the nominal in use, when using a credit card.
- CC can cause costs. For example, annual fee, interest charges, cash advance fees, admin fees, late fees, over limit, card replacement costs if any, and the fee request copies of the notification bill.
- If you pay the minimum payment, you may pay interest in a year about 36% - 48%.