The 15 Most Important Financial Decisions You’ll Ever Make


4. Will you use credit cards?

Having a credit card and paying the installments regularly is a great way to establish a good credit record. When you apply for finance, your financial behavior is examined. One of the first things that’s checked is how you treat your credit card repayments. Keeping that in mind, know that it’s good to have credit cards, but it’s important to use them responsibly.

A credit card is not a license to shop! Using a credit card and justifying it by saying you’ll ‘manage’ the repayment is unwise. Whatever you do, don’t use one credit card to pay off other credit cards or another debt. This gets you into a debt trap that’s hard to escape.