Credit Cards plus Glitzy shopping Malls plus lack of self control=recipe for personal financial mismanagement?
By Ptrikha_2
@ptrikha_2 (49775)
India
November 17, 2017 1:50pm CST
If a person has got a number of credit plus debit cards, but the person is prudent and can control urge for overspending, it is great. His or her finances would be on track. However, if a person becomes casual, and loses self control then the Glitzy Shopping Malls with their shops full of clothes, Perfumes, variety of grocery items and number of Restaurants couples with unchecked usage of cards- especially Credit Cards could be a recipe for Financial Mismanagement, often leading to increased interest outgos and pain later on.
Its best to exert some self control. Yet many of us - some all the times, and some like yours truly sometimes lose this control.
How do you tackle such situations. Do you also indulge in overspending. Or your better half?
4 people like this
4 responses
@ptrikha_2 (49775)
• India
18 Nov 17
@LadyDuck or you can use a debit card for payments.
1 person likes this
@ptrikha_2 (49775)
• India
19 Nov 17
@LadyDuck what is the annual fees on debit cards, on an average in Switzerland?
1 person likes this
@ptrikha_2 (49775)
• India
19 Nov 17
@LadyDuck The annual fees on the savings account linked Debit card.
1 person likes this

@cahaya1983 (11116)
• Malaysia
18 Nov 17
No fortunately I'm not the type who goes crazy about shopping. Plus I've stopped using credit cards and I'm so happy I made that decision. It's easy to spend more than you should when using a credit card.
1 person likes this
@ptrikha_2 (49775)
• India
18 Nov 17
Yes @cahaya1983 with credit cards we have more tendency to exceed our limits.
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@YrNemo (20254)
•
18 Nov 17
I have some in-laws whose enrich their banks this way: overspending all the time via the use of credit cards. The banks refuse to cancel those credit card accounts, so my in-laws continue to be in debt (Their families had to find some money to pay back on their behalf). It is almost like a kind of gambling.
1 person likes this
@ptrikha_2 (49775)
• India
18 Nov 17
@YrNemo that is a lot of financial imprudence and that must be avoided.
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