Owning a Credit Card - should we avoid them entirely?

Definition of 'Credit Card'

A standard-size plastic card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. It is a plastic token that are a convinient subsitute for cash/cheque transactions as part of the essential electronic components.

Many tend to believe Credit card is a means to an end in their financing due because often users spend recklessly out of the experience of convenience and satisfaction the card allows and ended up with a debt at the end of the month. However this is like avoiding power tools because they are more dangerous.

A Powerful Financial Tool

Credit cards will not help you achieve financial freedom, nor will they send you to financial hell. A credit card is simply a financial tool that must be used with care. There are pluses and minuses to consider, and when used responsibly credit cards can make your life easier.

Benefits of Using Credit Cards

• You can make transactions without on available platforms that can't be done with cash/cheque — e.g., online purchases
• The convenience and ease & fast transactions as well as automations — e.g., automatic bill payments, etc.
• You get to enjoy cash back bonuses and reward points that certain credit cards offer.
• It’s easier for you to keep track of your purchases.
• It’s safer than carrying around physical cash.
• You are better protected against fraudulent purchases and you can often get your money back.
• You won't loose your money for loosing your credit card (provided you cancel the card from the bank before falling to other people's hand)

Additionally, there are other benefits depending on the specific card that you use such as Low to No interest rates/discount on physical purchases/ rewards points & complimentary benefits

A Few Reasons Why You Should NOT Use Credit Cards

• You are easily swayed for impulse buying and spend more.
• Racking up a big amount of debt at the end of the month without noticing it.
• If you do not pay your balances in full, you could end up paying a lot of finance charges.
• You could be hit with expensive fees — e.g., late fees, annual fees, etc.
• Irresponsible use of credit cards could wreck your credit scores.

So owning a credit card is a very subjective manner, it has its fair share of benefits as well as its weaknesses. However one should not disclose credit card as a plastic that would plunge you into financial hell. Like any tools, its up to the owner how it is being used and not to fear the tools itself.

Those who are considering to apply for credit card for the first time, don't miss out and read the "5 tips for Choosing Your First Credit Card" to get the most out of your credit card experiences.

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5 Free Babysitting Alternatives

5 Babysitting Alternatives - For Free!

You're a young couple with young kids, getting out of the house and enjoying a date together can really add up:

• $35.00 for dinner
• $25.00 for a movie and popcorn
• $30 for babysitting

Sure some ways like reduce the cost of dining out by finding a cheaper establishment. You could even skip the movie and go for a walk instead. However, if you want to be able to get out of the house and fully enjoy the night you want, babysitting is a hard expense to avoid — with a little creativity you can save

1. Ask the Grandparents

Yes, this is an option that will only apply to a limited number of people who happen to be fortunate enough to live in the same town as their parents. But if you do live in the same town as your parents, then I'm betting your kids already enjoy every chance they have to spend time with grandma and grandpa, and affordable, reliable babysitting isn't really a problem for you.

2. Swap Babysitting With Another Couple

You may have close friends who have young children. And they may want to go out on dates as well, so agreeing to a biweekly babysitting swap with your friend is a good way to save from hiring a babysitter. Not only did you each get a date once a month, but your kids looked forward to date nights because they get to play with friends. When kids have the opportunity to play with other kids their age, they'll welcome the dates with as much anticipation as mom and dad.

3. Exchange Services

If you typically have a teenager babysit for you, it's possible that you could help them with something that they would consider more valuable than money. This could include something like tutoring them in school or coaching them in a sport.

4. Double Date With Other Parents

Typically most people think dating is about spending time together as a couple. However, if you're more in the mood for getting out of the house and doing something fun, then consider a double date with another couple that has kids. Kids occasionally entertain themselves on an outdoor activity & parents can hang out and enjoy adult conversation.

5. Friends/Relatives Who Don't Have (but Do Like) Kids

Often times people can be voluntary when it allows them to experience the warmth of being around cute children. Particularly when they haven't have or not fortunate to have children of their own. You may asked from them if they could babysit for you and chances are they are likely to agree for the chance to experience parenthood.

And there you have it! 5 alternatives to for you to go on a date without spending a single cents. So take action now and call up all those friends & family of yours!

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SO COME IN AND FOUND OUT HOW I DO IT!