Clipping of news on Brazilian Culture, Law and Citizenship
09/05/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Source: UOL
The Brazilian did not know how to use the credit card. At least that is what suggests a survey released by the National Confederation of Shopkeepers (CNDL) in March. According to the study, the method of payment is the main cause of bad name among Brazilians (43.4%). Then come the loans (23.5%) and retail store cards (19.3%).
The worrying data do not stop there. Of the total respondents, 34% do not know what your credit limit and 96% do not know the interest rates, revealing unpreparedness and lack of knowledge about the use of the cards.
The consequences come in the form of arrears. "It's an excellent buy tool, but it can become a weapon if not used properly," says financial educator Silvio Bianchi.
Starting with the right foot
If you intend to join the team of almost 52 million Brazilians who have at least one credit card, Bianchi tip is to learn from the mistakes of others and prepare to also not be part of those statistics.
See some Bianchi advice for those who intend to use the credit card for the first time:
1 - Do not buy what you can not afford
If you think you will be able to buy what you want when you unlock your first card, you better rethink. "It is not a tool that will help people realize their dreams. Later in the month, the bill will come," says financial educator.
2 - Limit spending to 50% of your earnings
The institutions end up contributing to the indebtedness of consumers, releasing very high credit limits, incompatible with income. Ideally limit spending from the start and not get excited too. "For those starting out, this ceiling should not exceed 50% of net income," he says.
3 - Interest can reach 600%
Without knowing the risk they are running, many people appeal to the minimum payment card or exaggerate in installments. "Revolving interest can reach 600% per year. This means that by pushing the debt forward, consumers are creating a snowball that will only increase," he says.
On the website of the Central Bank (http://zip.net/bgtcRG - shortened and secure link), you can know the interest rates of all financial institutions.
4 - Learn how much you earn per month
You know how much you spend every month from your paycheck? How much can you save? Who does not control personal finances runs a great risk when using a credit card. You have to have everything at the tip of the pencil and keep from spending while you limit, not to take a shock when the bill arrives.
5 - Do not lend your card
The credit card is to be used exclusively by you. It may seem an obvious advice, but it is not. According to a study of the Credit Protection Service (SPC Brazil) released in April, one in ten Brazilians got bad name in the past 12 months did because loaned to another person shop or borrow. "Who borrows is because we have no more credit. The chance that person does not pay the debt is great," he says.
expense planning prevents large debts
Source: UOL
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This article was translated by an automatic translation system, and was therefore not reviewed by people.