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Financial Mistakes People Indonesia

Prosperous retirement must be the desire of every person. Unfortunately, in reality only a small percentage of people who managed to achieve this condition. The rest? Most people Indonesia had continued to work until the old, or rely on family life.

Why did this happen? The answer is because throughout his life, most of Indonesia tend to make financial mistakes. Many consider this error is not critical, so closing her eyes and let her keep one continuously. The result would be fatal to finance in older age.

What are the common financial mistakes people make Indonesia?
1. Not specify the purpose

If you do not know where he is going, how do you get? To build wealth, you first must have a purpose. You should first determine the amount of money you want, only then you can create a financial plan.
2. Does not regulate small expenditure

You probably know what your general expenses, but do you realize how much total money you spend on little things? Be careful at small expense, especially for the frequently occur, because after a large sum would be worth.
3. Submit all financial arrangements on others

You need to participate in making a financial plan. With the participation of this, then you will better understand the conditions
You are now financially. And you reduce your dependence on people who manage your finances.

If so hope you find the content of this site useful. If you want to apply for a credit card, click here.

If ever you were in possession of a card would be a good idea to visit our introduction to credit cards first. You’ll find answers too many general questions.

Also, our glossary contains explanations of some technical words and phrases you’ll find on this site.

If you have already decided to apply for a card but do not know which to choose, look at our guide to choosing credit cards. It contains many tips about what factors to consider when taking a decision.

Remember that not all cards are alike!

Internet has become a truly global community and millions of online transactions are carried out every day around the world. Credit cards have become an essential tool because they allow the purchase simple and easy to do business.

However, it is always best to be aware of potential risks involved. For this reason we have also created a section on safety. See if you want some tips on how to keep your finances secure.

You also interested our analysis on the various forms of fraud and how to avoid it.

Have you applied for a card? Remember that it can be an excellent financial tool but only if used wisely.

Look at our guide to managing your card to find the best tips on how to keep your bills under control.

Have you ever noticed that every single thing you do in your routine based on your choice? In every act, you will face option that needs your decision; furthermore your choice will impact your life, therefore the get a better yet positive life, you need to know what kind of call you are about to make the specific data available to support the call. This concept can be applied in many ways of life, especially when you are going to make a finance call such as choosing your own credit card.

If you happen to travel a lot, then surely the airmiles credit cards will suit your need. This card type allows you to have a more lucrative package related to travelling and going abroad. Within this air miles credit card there are several big names as your option such as the Armex British Airways and Virgin Atlantic Card.

One that can help you to choose is based on the 0% balance transfer credit card that allows you to have 0% of rate anytime you wish to transfer some payment from credit card. The prepaid credit cards category can also help you to decide which of those options will give the best the air miles system that suits your need. But remember to complete every obligation appears due to the dead line payment, since you don’t want any unexpected thing to happen in the future.

The appropriations rotary is commonly used in credit cards and the same may have financing between 12 and 36 months, although in some countries may have installments starting at 1 or 2 months to pay. With some frequency operate as follows:

Credit cards are delivered to the customer in balance = 0 (zero). From that time, each consumption or purchase or cash advance to the customer will begin to generate interest from 30 days after completion of the transaction, i.e. not generate interest during the first month.

Daily will be calculating interest of previous balance of the card (this for not to include the consumption to be carried out during that month), and will be subtracting the interests of the payments made in this month to reduce the portion of interest generated by them.

Finally, at the time of the billing, (which is the time that makes the cut of the consumptions made by the card since and is billed to your credit card), is divided the final balance in the turnover between the amount of months of financing (which in Venezuela is generally 36 months) and is obtained the 1/36 part of the capital, to which adds to the 1/36 part of the interest generated this month, which are obtained from the sum of the interests divided among 36 or between the amount of months of financing.

Finally, joins this 1/36 part of the capital more the 1/36 of the interests and therefore is added all the charges not funded as they are: the commission by issuing new plastic, the commissions for consumption in the outside, the commissions by effective progress, and others. All this gives as a result the minimum payment to pay for the customer, which must do so before a date set by the bank.

If the client does not come to pay the totality of the minimum payment before the date of payment, then began to generate interest in arrears, which was loaded from the next billing without financing.

Once the customer has fallen into delinquency, be included in a list of customers with late payment to 30 days, and to continue without pay its obligations with the bank, the status of delinquency increased to 60, 90, 120, 150, 180 and 210 days, as the case.

Generally, the banks make a so-called “friendly” and as a reminder to customers with 30 days in arrears, and a call a little more serious to which reach late for 60 days. But now from 90 days, is the change of attitude of the banks to customers who have reached such a degree of delinquency.

Depending on the bank, often block on the card from the 60 days in arrears and in some cases from the 30 days for the client does not make more consumption until it is put to the day with its commitments to the bank.

Similarly, banks often use its department of collections to try to convince customers with up to 120 or 150 days in arrears to make your payment to the bank, but after there, often give the list of customers to outside counsel to conduct the efforts of collections of these accounts. AND believe something, it is nothing pleasant receive the so-called for an outside counsel.

The theme that motivates me write is that recently i noticed as many of my friends and acquaintances i have what initially seemed to them a benefit became a nightmare financial: credit cards.

Many of us dawn a day with the arrival of a on the content of which is a credit card inviting us to enjoy the services they offer.

From our acceptance we fall into an endless of temptations to acquire goods and services that never thought we would be able to acquire. We ended up with a debt that while our income will enable us to comply with the payments in the terms that require the issuer of the card everything is perfect and wonderful, ask an extension of our credit limit to increase our levels of consumption and ratify our creditworthiness of payment to aspire each day to more.

If all this has happened let me tell you with the respect they deserve it fell in the great trap as i fell also 5 years ago. When that happened and check my account statements, looking for the formula, to pay high monthly contributions i realized that he had anything to correct. I fired my work by reducing staff, i fell into arrears or late payments and the banks I am not perdonanaron mates such drastic measures that were difficult to fulfill. At the end managed, with much sacrifice, cancel my debt but i realized everything that i was given credit cancel in quantities three times greater than its value by the high interest rates charged by the bank.

The credit more expensive are those of credit cards, no instrument cobra such high interest and its fundamental reason is that the bank has no good or guarantee that support your consumption. That is the real reason why the banks are seeking that you consume the more he can to after billing the highest rates for their benefit. Read the rest of this entry »

Debts incurred by the excessive use of credit cards are a common problem for many people today, people who have a habit of accumulating large credit card balances, and always pay the minimum.

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Maybe some types of debts are useful, such as debts incurred to buy a home or an investment, but other types of debts, such as consumer debt, do nothing but prevent us grow financially, especially the debts generated by credit cards, which are usually more expensive debts (which have the highest interest rate).

If you are currently a high level of credit card debt and want to remedy the situation, then we present a method consists of 5 steps to help you get rid of debts from your credit card:

1. Recognizing the problem

The first step out of credit card debt is to recognize the problem you are gone, which means knowing the total amount of your debt (the sum of the balances of all your cards), and convince you that while keeping that debt will never follow you grow financially.

Recognizing the problem also involves convince you that credit cards should only use in cases of urgency or emergency, not ordinary purchases or give you some momentary satisfaction that could later meaning you a financial problem.

2. Stop using credit cards

If you come out of the hole that you’re stuck, you should stop to dig, and that is, if you leave the problem of credit card debt in which they got, you should certainly continue to use the cards.

The best way to avoid the temptation to dig is keeping or disposing of the blade, so if you want to avoid the temptation to keep using your credit cards it is advisable to keep them and not take them with you when you go out (especially shopping ) or, better yet, get rid of them, cutting them.

You cut all your credit cards, or at least stay with just one, one that has the lower interest rates and convenient payment terms. Read the rest of this entry »