How to avoid Credit Card Debt

Digitisation has empowered consumers and there are multiple avenues for over indulgence. Today you can own almost anything by click of a button in a matter of few seconds. Availability of easy money gives birth to a false sense of security and people start indulging in unnecessary spending. Credit cards do provide access to easy money and buying power which leaves little scope of slippage else you will fall into the debt trap and getting out of it gets difficult at times. To help you, here are a few precautions with respect to credit card usage which will help avoiding the debt trap.

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How credit card works

Credit cards have made life so easy for us and it will not be wrong to tag credit cards as one of the greatest innovations of financial world. Since they have arrived, cash has lost its significance. Earlier whenever somebody wanted to do some costly purchasing he had to undergo a lengthy and risky process. You need to go to the bank, carry a lot of cash with you, reach the shop, make payment and then take the delivery. The process was both time consuming and painful. As credit card has added wings to our spending power, it’s worth knowing how the whole system operates.

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When to sell your stock

Investment decision comprises of two parts i.e. buying and selling. While buying is embedded in our gene (that’s the reason we find most of the retail investors going for junk stocks), selling doesn’t come so easily (That’s the reason retail investors keep on incubating junk stocks in the hope – someday they will hatch J). To keep you well informed, here is a primer on the art of selling stocks once you have bought it (Be it junk or a great stock).

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Things to know about Inflation Indexed Bond

Benjamin Franklin once said that the only things certain in life are death and taxes. While taxes may not be true for many people, death is. After all, we have just 42,000 people who earn more than a crore. Poor souls, they must be regretting after declaring their income. The bad news, however, is that you cannot save yourself from inflation, a form of indirect tax on your earning. Especially, in a country like India where average spend on food and basic necessities form the bulk of expenditure, inflation is killing. This possibly explains Indians’ penchant for gold because it has proved its worth time and again.

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Things to know about Identity Theft

In today’s world of internet, information accessibility is just a matter of mouse clicks and if someone possesses technical bent of mind he can even spy on Mr. Obama. So if someone so powerful like Obama is at risk, who is going to save common people like us? Social networking, chats and emails have given birth to a very different kind of crime called Identity Theft, which was so hard to emulate in times when internet technology was not available to common man. This is one of the prime reason why you always have to prove that you are real you by answering to same silly repetitive questions whenever you contact the customer service of your bank.

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Best option to invest in gold

 

Government is hell bent on reducing gold imports and Indian consumers are hell bent on buying gold. Every now and then RBI comes out with a new restriction so as to reduce gold import but much to its chagrin Indian consumers are simply not listening. World Gold Council expects India's gold import to touch a record high of 300-400 tonnes in first quarter of FY14. Indians buy gold in different formats and if you are planning to join the mad rush, you can use this article to analyse the pros and cons of different type of gold investments.

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