From the moment we are born until we die, money is present in our lives. One form of financing accessible to most people is the credit card , which, well used, can be of great help to us since we are teenagers until we reach old age.
Usually, as young people, the capital we manage comes from our parents or guardians. They take care of giving us the things we need, from a roof, clothes, toys, trips, etc. The responsibilities grow and when we reach high school, they give us a first sign of confidence by granting us our first plastic, still financed by them, but to some extent, administered by us. From here we will pay tuition, supplies, school departures and some other output between friends. At this time, it is recommended that parents agree with the bank a limit amount within the line of credit that was given to that card to avoid overdrafts, extra payments and interest that may be generated by poor administration. In this stage, the user of the credit card is beginning to build a credit history, therefore, the good use of plastic will be in his future benefit.
In the market there are basic cards with a credit of five thousand pesos for this stage of life
Some cards also offer some type of insurance, either medical or life insurance, which can be used, especially if at this stage of high school – university, the children decide to emigrate to another state and even to another country.
When the student life ends, between 22 and 30 years, professional life begins, even some already have some distance working for some company or family business and even some others are already independent entrepreneurs. In this phase of life, it is important to become aware of the importance of our financial decisions, learn to control our expenses, it is easy to fall into temptation and want to satisfy our whims by not having many responsibilities. Of course, we must establish a financial plan that includes at least the logical scenarios of the next five years, these can be, travel around the world, grow our company, get married, buy a house, cars and have children; reserve an obligatory percentage of between 5 and 10% of our income for our retirement plan, etc. At this stage, making objective decisions regarding the use of the credit card is essential, since these should be according to our real capacity to pay and with the idea of being a totalero, that is, paying early, on the next date of payment. cutting of the card. Being a little flexible if there are promotions to twelve months without interest of some good that we need and that otherwise could not be acquired at the time. But keep in mind that in this phase of life, we must get used to being total and acquire only those commitments for which we can respond without putting our economy in check.
It is at this stage also when many of us get married and acquire mutual commitments as we agree, for example, the payment of rent and services or start paying a mortgage. The expenses that can generate starting a family, etc.
We are already young adults, that is, we are between thirty or forty and many
Possibly we have teenage children next to enter the high school or university. We are still paying some debts that we acquired in the youth, such as the mortgage, the life insurance, the retirement, the doctor, our car and that of our partner, including, we could get another auto loan because our first child will need it to get there timely to the university and perhaps we are also paying the insurance of studies of him and the one of his brothers. Now the use of the cards must be moderate and cautious and with the idea of going to finish paying the commitments derived from the use of it and leaving it in zeros. Well you have to anticipate what may happen later.
When you reach the stage of Older adults, the use of the credit card must be very limited.
Since in general, people in this stage of life, live with resources that come from retirement (the pension) and if they were proactive, they can rest assured.
If they were not, any expense of the newspaper will be a problem for them and even if they trust in having access to the credit through the card, this will sooner or later have to be paid. So the use of the card is actually contemplated for a true emergency in this period of life.
In addition to the practical advice for each moment of our life, in general, we must always keep in mind that the card can get us out of a hurry, help us grow, to acquire a good that otherwise can be complicated, but always pay the total amount in the next cutoff date. Avoid entering the minimum payment scheme because this will cause the original cost to increase due to the extra payment of interest.
Remember also that the cash disposition of the card’s fund is not your money, but is part of the line of credit extended to you by the bank, so you have to pay as soon as possible. So if you use the plastic credit, think about how much you can pay next month and only access that.