9 Common Mistakes that turn Credit Cards into biggest liabilities

It really feels excellent receiving a credit card just after landing your first job. Turning a massive fan of these plastic cards is easy. But failing to identify common credit card mistakes make people turn them into financial liabilities.

Credit cards are amazing financial tools that offer some significant benefits for those who know how to use them to their advantage. Why not, to some it is a great medium to feel rich. For others, it can be a means of instance money generation at the time of emergency. But at the end, it is an exchange of money which needs to be paid later.

If you have the discipline to pay off your balance each month and take care of all the don’t, using a credit card makes excellent financial sense.

Generally, those who assume these cards as a money printing machine, sooner or later are bound to fall into such an outstanding credit card debt. Read More

Why is Financial Literacy important in 2018

In this post, we will go through what actually is financial literacy, what it can mean to you and what actionable steps you should perform to achieve it.

In many countries around the world, adults inherit low Financial Literacy these days. They often possess financial attitudes mainly oriented towards the short-term success or instant gratification and thus fail to engage in good financial behaviors that could help them improve their financial security.

What is Financial Literacy?

Well, one can always believe Wikipedia to provide a fair definition of financial literacy

“Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources available. Understanding basic financial concepts like compound interest, debt management, etc allow people to know how to navigate in the financial system. People with appropriate financial literacy training often make better financial decisions and manage money better than those without such training.”

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