How To Stretch That Bonus Check During the Festive Seasons

As the bonus season approaches, many of you must have drawn up a shopping list already about what to buy during the New Year festivities. Flat screen TV, SUV, PDA, MP3 players are among the “must have” items this year for many people and needless to say, a good number of us will be using “plastic” rather than cash to pay for such items. Not only is it so easy to obtain personal/credit card loans these days but some of the promotions being offered by credit cards companies are more inviting than ever before. Cash rebates, double bonus points, zero balance lucky draws are just some of the latest gimmicks being employed by card companies to encourage us to spend first and pay for it later. In addition to easy credit, 24 hours a day, 7 days a week advertising bombardments by consumer companies make up a pretty lethal combination in driving household debt ever higher. In this issue of M&W we have put together 4 related mini pieces on personal debt and the things one must know about credit. The first piece is on “25 fascinating facts about personal debt” . Although, the bulk of the facts are not directly related to Thailand but it is interesting all the same. The second piece is on “Key questions to ask before you sign up for a credit card” , a “must read” for first time user of credit cards and a “should read” for those that already have credit cards. The third piece is on “Do's and don'ts for establishing credit”, which deals with common sense tips on how to protect your credit rating and stern advices about debt traps.

Last but not least, is a piece for those of us who still don't know what APR stands for and for those that do not know how to read between the lines when confronted with credit card statement. “Your credit card statement made simple” is a required reading for those who are overdue on their credit card payments. At the very least, one should know how the 18.9% interest rate is being calculated. The author would like to wish all of our readers a very happy new year without burning a hole in our wallets.