Investments & Loans

Over the last couple of years my wife and I have held onto the dream of working from home and making money on the internet. I am happy to say that we are closer than ever these days.

It is interesting as we have gone along to notice that each of us seem to have a natural inclination toward different aspects of the internet’s many and varied ways of making money.

My wife in particular is drawn to ebay.

She loves the idea of a global marketplace, and inparticular the idea that she can find “bargains” in almost any category, that are WAY in front of what you would pay in physical “offline” retailers.

But, as a result of her growing fascination with the ebay market place she quickly worked out that she needed Credit Cards. My wife worked out that at different times (seasons) different countries had increased supplies of various products and also at different times through the year the prices went up and down in different countries.

And for her to be able to pay for the things she wanted to buy (and in alot of cases re-sell) she needed to be able to use a credit card.

Previously, she had relied solely on bank transfers. Because all the purchases were in our home country. But, now, even to use paypal, she needed to have a credit card.

At first, to my frugal living loving (that’s a mouthful!) and credit risk averse wife, this was a little daunting to say the least. And she has come up with her top 5 tips for new credit card users as a result:

1. Set your own limit.
Although you may be approved for $2000, try to work out your own budget in advance, and set your own limit.

2. Learn. Study. Know more.
There is alot of red tape, it may seem, with credit cards. Make sure you know the ins and outs of your card. That way you can avoid unnecessary interest payment problems, but also utilize any loyalty program offers that go along with the card.

3. Pay of your balance.
Always pay your balance off each month. If possible, to avoid excess interest payments.

4. Keep receipts.
Especially if you are buying online. But, also to keep personal track of your spending, so you can track it against your budget.

5. Restraint.
Do you have the mind-set that just because you have a limit of $2000, you now have $2000 to spend.

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