It’s been a busy and tiring week so I don’t manage to update my blog at all. Even though I have a time to write a post, I feel too lazy to update because I’m out of idea what to write. Any way it’s been 2 weeks I followed “Suze Orman Show” on CNBC Life (every Saturday 5am – 6am show). This show will guide you on how to enhance your budgeting skills. Ok.. let see whether my budgeting skill getting better or worse for the next 5 months hehhe.
![credit-card_thumb[1]](http://lh3.ggpht.com/_pPr4IQiQKFE/THEbt-oOwPI/AAAAAAAAAvg/dj6EuJyweiE/s1600-h/credit-card_thumb%5B1%5D%5B4%5D.jpg "credit-card_thumb[1]")
Right.... What about Credit Card? If you use your credit cards wisely on daily expenses this could be a good wealth tool. Why and how? Using credit card you gain:
1. Interest free loan
When you perform a transaction using your credit card, you will only be billed for it at the end of the month. In other words you can postpone the payment of your bills FREE from any interest only if the payment is made before the due date. Well the only the difficult is you might not know when is the issue date and end statement date. So just wait for the first bill to come then you can start your budgeting on the following month.
2. Bonus reward
Every purchase you make on your credit cards, it will earned you a bonus reward points which you can use to redeem for free products and services. Since all Malaysia Credit Card now have government tax fee… you can use your bonus reward to redeem the point for this fee.
3. Free Money Management Tool
Currently I’m using Quicken Home 2010 as money management tool to track my expenses. Disadvantage about this software is that all finance institution listed are based in USA therefore I have to key-in all transaction performed manually.
Every month, Credit Card Company will tabulate for you the total spending for the month. This will make easier for you to track your total expenditure. What I’m trying to say is this can become a Free Money Management Tool.
At the moment I use one card for petrol expenses and the other card for utility and daily expenses. I think by doing this it will make easier for budgeting. Try it and tell me if this work for you.
Remember you must always pay the outstanding balance in full amount every month. By doing this the bank does not earn a cent from you and you will get all these THREE GREAT BENEFITS mentioned above. I know it sound difficult but try your best to get out of credit card debt. Don’t be a credit card debt victim.
