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Declining Interest Credit Cards: These are 3 Ways to Control Your Expenditures

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Some time ago at the end of December 2016, Bank Indonesia (BI) decided to apply the credit card interest capping to 2.25% from the previous 2.95%. It can be said that the reduction in the upper limit of credit card interest is one of the efforts taken so that more people do non-cash transactions. Based on information reported by Kompas.com, BI noted that the number of credit cards only grew 2.85% in 2016, this also had an impact on the value and volume of transactions that did not grow significantly compared to 2015.

It is expected that the reduced interest rate on credit cards can make people more want to use credit cards as a non-cash payment system tool. Of course this is one form of the Government’s effort to go to a cashless generation , where the use of cash is minimized and the community switches to other payment methods such as credit cards / debit cards / smartphones / other payment cards. Then does the impact with the credit card interest go down for us? Check out more here:

 

The Greater the Temptation to Shop

 

 The Greater the Temptation to Shop

 

This is a very big possibility if the credit card interest decreases. Of course the temptation to buy an item and pay later is very large. The rise of promotions here and there in the form of low-interest installments or even up to 0% can be very tempting. And keep in mind that a lack of self-control will easily make you fall into a bad shopping habit.

 

3 Ways to Control Shopping

 

3 Ways to Control Shopping

The Importance of Self-Control

The Importance of Self-Control

As mentioned before you have to be smart enough to control yourself so you can avoid shopping that is not controlled. The problem is with the many promotions that are currently circulating, you must be able to compensate by looking at your ability to pay. What is the point of using a low-interest credit card if you don’t have the ability to pay. It’s good to look again at the price of goods and take into account the prices of goods and predictions of installments that must be paid in the next few months. If you feel less capable, you should resist the urge to shop.

 

Consider the Need or Not to Buy Certain Products

Consider the Need or Not to Buy Certain Products

 

The number of temptation promotions along with the low interest on credit cards must make you more careful in choosing what items to buy. The way to control shopping when interested in an item and you see the price is quite cheap is to ask yourself whether you really need the product or not. If this item is only a form of ‘desire’ then you should not have to buy it. Often people take advantage of promotions and lead to impulsive shopping, usually this happens when shopping at exhibitions bazaars. In essence, don’t rush into buying goods. Consider and think carefully whether you need / don’t buy a particular product.

Look for cheaper items if you decide to shop

 

Look for cheaper items if you decide to shop

 

If you really have decided to buy an item and really really needed it, it’s good to look for other options, namely by looking for a cheaper replacement item. Although shopping with credit cards usually provides the advantage of being able to pay in installments in the future, it would be better if you get the option to pay cash at a cheaper price. Therefore, make it a habit to always do small research when planning to buy goods, either through conventional stores, exhibitions, or online shopping methods . This research can help you to know more about similar items that can be an option for you. This has an impact so that you can be more economical and don’t need to hoard debt.

 

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