When I finally landed a stable job few years after graduating from college, among the first things I planned was having credit cards. At that time, I felt that having “plastics” was the best thing for a yuppie like me. Imagine, I can literally shop ’till I drop even if it’s not yet payday.
Two years later, I have realized that getting credit cards (and using them) was the worst thing I have ever done in my life. I’m still stuck paying credit card bills up to this day even after I have stopped using them anymore.
So, instead of getting credit cards, the wise advice for young people from an International Labor Organization (ILO) consultant is: invest in Home Mortgages. You’ll say you don’t have enough money for a home mortgage, get a loan. Get it from Pag-Ibig or GSIS or SSS. Your monthly mortgage will be low and you’ll learn to live with your income minus the deduction after some time.
It is better than spending all your salaries every payday but not saving anything. By getting mortgages, you are already saving and as they say, the best investment is on real estate.
Let’s plan for our future this early. It is worth it.
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#1 by Aaron Wakling on March 3rd, 2008
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.
Aaron Wakling
#2 by rino on March 3rd, 2008
One of the wrong things I ever did in my life was get a credit card. I remember a friend telling me after I told him I just got a credit card that “this is the day you start to become poor”. Now I do believe him.
#3 by manilenya on March 4th, 2008
I have a credit card but i seldom use it, ayaw kong magkaroon ng sakit ng ulo twing bayaran
#4 by mhel on March 4th, 2008
rino…
manilenya…
good for you sis. continue doing that.