Yahoo Finance Is Credit Card Debt Eating You Alive? Here’s What You Should Know About Debt Consolidation
Being smart about your personal finances isn’t just about being cheap. Unless it’s for health purposes or Pokemon Go, there’s no reason for you to walk 5 kilometers just so that you can save on “affordable” bus fare. So we’re great believers of using your credit card to maximise your benefits, whether it be air miles, cashback rebates or rewards points.
But, if we’re not careful, we could be on the road to credit card debt. And getting into debt is definitely not being smart. Because of high credit card interest rates, leaving large outstanding balances on your credit card account will lead to large amounts of interest. Here’s an easy infographic to help you understand the dangers, and what you can do about your credit card debt.
Do you need a debt consolidation loan? We help you compare the lowest interest rates for personal loans.
The post Is Credit Card Debt Eating You Alive? Here's What You Should Know About Debt Consolidation appeared first on the MoneySmart blog.
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