Financial Awareness

Managing your finances is of major importance in our contemporary society. If you are a student during college years, you might experience many financial issues. In order to be successful in the future, you need a system to oversee your investments. Using credit cards is extremely important, as building your credit might boost your credibility as far as money are concerned. The aspects of financial awareness might include the income versus your expenses, the money spent on your necessities versus your recreational activities, using store credit cards and the probability of increasing your income in order to obtain financial stability.

Store Credit Cards

Be aware and learn to use wisely your credit cards so that you could not be trapped by some store-specific cards, mainly by their interest rates. You can get store cards easily, as they promise great deals and discounts. But the problem is that you will pay high interest rates for the purchases you have made. So interest rates are extremely high and the access to store cards is also easy. In order to be aware of your financial situation, if you signed up for store cards, then use them more seldom.

Credit Cards Might Trap You

You should know that a store card is a form of credit card used only in a store or a store group. There are store cards and a loyalty cards. When you use a loyalty card, you will collect points to spend in a particular store. Store cards are different from loyalty cards, as they are used to rack up charges, but you should be aware of the high interest debt. If you want to be wise, there are several things you should do.

• apply for a store card only if you are certain you can afford it;


• value the initial discount offers;


• spend the money for a big purchase;


• maximize the offer, buying something that is more expensive;


• enjoy the membership benefits.

If you are a store card holder, you could benefit from special evenings and offers. You could keep a store card just for such events. All this resembles a membership club. The major issue is that if you have a store card, you should be loyal to that particular store. You are obliged to spend your money there. However, you should spend your money in a store only if it has products of the highest quality, if not continue being attentive to your finances.