Take care buying on credit

HAVING credit is important but if you can't control spending it can bring trouble.

HAVING credit is important but if you can't control spending it can bring trouble.

Credit is necessary for large purchases like a house or car.

Financial institutions' interest rates vary and they may offer specific benefits that could suit a particular need.

The answer lies in shopping around and making an informed decision.

Certain purchases like cars, TVs and computers are assets that do not increase in value.

A car depreciates in value the minute it is driven out of the showroom.

Being aware of your real needs allows you to make a sober decision on whether to make a purchase or not.

Spending a little less on a similar item serving the same purpose will reduce interest payments and the difference can be used to enhance one's overall savings.

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