Credit Card: 8 Times When Using It Is More beneficial Than Debit Card

According to Finance Investment Companies in Delhi, India the most impressive benefit that credit cards bring with them is the purchase and fraud protection facility that they bring with them. However, you would be impressed to know that there are certain situations when it’s smarter to use a credit card than a debit card.

Here’s the list of these 8 types of purchases that where using a credit card over debit card would be more beneficial:

Online Purchases:

While making an online purchase you've to be highly aware of not sharing your debit card details with a less established company who do not have a full proof security back up. It’s better to be overly cautious and use credit card over debit card!

Flights:

It’s recommendable that you use a credit card with built-in travel protection when booking flight tickets as you never know when something would come up.

Items from Small Vendors:

If you’re at a restaurant, at a food festival or buying from a vendor that accept cards, don’t forget to use a credit card over a debit card as it will provide you with the safety required while shopping with less established outlets.

Car Rentals:

Credit cards also offer rental car insurance, which will cover you in most situations. Also, if you use a debit card, it’s likely that you may have to put down a large deposit.

A Hotel Room:

Using a debit card for booking a hotel room may deduct a large amount of money asking you to cover things like damage to the room, room service, or other incidental purchases. Hence, using a credit card would prove to be highly profitable in this case.

Purchase Made Over the Phone:

Any purchase that is expected to arrive in the future should be made with a credit card. This is so because there’s always the chance that the stuff may not be able to make up to your doorstep.

Products Offering Warranties:

Many credit cards offer extended warranty policies that will cover your electronic and other goods beyond the manufacturer’s warranty, and the card offer is usually a better deal.

Big Ticket Items:

If you’re in the market for a new washing machine or a laptop, make the purchase with credit card. According to Finance Investment Companies in Delhi, India the purchase protection will come in handy if something ever goes wrong with the item.

Money Management Tips for New Parents

Every couple nurtures the desire to raise kids at some point of their lifetime. According to finance investment companies in Delhi, India there are certain secrets that you need to follow in order to raise your kids properly. Having kids is truly an expensive affair.

Here are some interesting tips from finance investment companies in Delhi, India for having kids without breaking the bank:

Get Ready for the New Expenses:

Arrival of a new baby means more than just an altered sleep schedule. You would need more space to fit in the new guest with all its toys, diapers and furniture. And, a bigger house comes with bigger mortgage.  Knowing these changes can help you make room in your budget and cut out other unnecessary expenses.

Create Emergency Funds:

As soon as you realize that your new found bundle of joy is arriving soon, you must start creating an emergency fund. Finance investment companies in Delhi, India suggests putting aside 3 – 6 months’ worth of living expenses, just in case you face an inevitable circumstance like losing your job. You can have the money deducted from your pay check automatically to make it easier!

Manage Housing Expenses:

According to finance investment companies in Delhi, India, housing is one of the biggest expenses for a family. While you may need more space once you've kids, don’t hire more than you require. As best of the solution, try to get advice from an interior designer so that you can make maximum use of the space available to you.

Get Some Life Insurance Policy:

Investing in life insurance policies might not have been that much important when it was just about the two of you. But, now that you have your child depending on your income, it’s very necessary that you consider good insurance policies.

Start Saving for Your Child’s Education Now:

Starting to save as soon as your little bundle of joy arrives may seem too early. If you start saving early then you won’t feel difficult to pay the college fees for your child by the time he/she grows up. You will be able to afford for his/her education expenses suggest finance investment companies in Delhi, India!

Consider Talking to Your Kids about Money – Tips for a Better Upbringing

Although a large number of typical parents advocate that it’s not important to include kids in discussions about family finances. According to finance investment companies in Delhi, India, 41% of the parents avoid talking to their kids about money.

But, you will not be able to deny to the fact that discussing finances with children at an early age help in making them financially successful adults. However, there’s a perfect way of doing everything. How do you start the conversation in a way that would be meaningful, comprehensible and engaging to them?

Here are some ideas for how you can train your children about a variety of financial concepts –

Explain Borrowing:

Children may not at all know that your family has certain financial obligations to consider such as paying EMI, getting a mortgage for your home and more. Explain your children the seriousness of such things with examples so that they can relate to these concepts.   For example, ask your children to play a “Loan Game” where they can loan a friend with a few dollars to buy lunch. And, the friend pay it back after a while along with a bag of chips as an interest for the loan – a mortgage is like that. Explain to your child how hard you’re working to pay the interest against the money that you borrowed from the bank. Also, educate your child with the consequences of not being able to repay a loan.

Play Games that teaches money skill:

According to finance investment companies in Delhi, India get involved your child in a game that tells how money works and the importance of money. Try games like Pay Day or Cash flow or any real life game that simulate real life financial strategies and situations in an engaging way. Activities or games that show how money works would be helpful for your kids especially if you’re hesitant to talk to your kids about money.

Starting early is the key:

With a little bit of grooming if you can educate your child with good money skills then there can’t be any better investment that you can ever make. The trick is to start money conversations early in life thereby educating your child about more complex topics like saving for college and buying a home.

And, eventually the investment will pay off: You’ll be more likely to see your children grow into happy, financially confident adults!

Does Marrying Someone with Bad Credit Effect Yours

Finance Investment companies in Delhi, India says that if you marry someone with poor credit, it’s not necessarily going to hit your credit score. A common credit score is expected to hit you when your credit card is connected to a joint account that belongs to you and your spouse. That’s because credit reports, which are the basis of credit score, are tied to individual Social Security numbers.

If your credit card was issued keeping in mind the joint account, the ability to get a loan or the interest rate you pay will be based on both the partner’s credit histories. Even if you have a good credit score, but your spouse has a spotty record, the terms likely won’t be as favorable.

However, bad credit rating of a single person in a joint account is definitely not going to drag down the credit score as a whole. Similarly, as long as you continue to pay your bills on time and manage your credit wisely, the good credit score of one of the partners will bring the other partner’s credit rating up. This can be an opportunity for the person with better financial habits to help their spouse improve how they manage their money.

Nevertheless, if your irresponsible money habits result in late payments or maxed-out credit cards on joint accounts, your own credit will suffer. Considering this fact, it’s better idea to share your finances with your fiancée before you decide to tie the knot.

According to finance investment companies in Delhi, India, the challenge of marrying someone with bad credit is that if there is any underlying issue that hasn’t been resolved will only make problems more severe in the years to come.