Do you have your own credit card or do you use your parents?

When shopping, how do you budget the money you have to buy things that you needed? That's why there is this thing we called credit card, a card that we swipe on purchased on the stuff that you want with credit limit. The higher credit limit that you have, the more chances to buy things that you want while doing, shopping. And if the bill comes at the end of the month, you will pay almost half of the amount that you purchased.

I own a credit card

Having your credit card is like accepting a big responsibility to budget and manage to swipe your credit card since the main card holder is your parents. This maybe an advantage from your friends who doesn't have a credit card because you can use it when you have been hanging out. The disadvantage is that if you can't control anymore to use your credit card anywhere you go, the bills will go higher and your parents might have a hard time paying their bills. To avoid this, you have to:

• Ask your parents if you can use your credit card to purchase that you needed. In this way, they know where did you used your credit card and what for when the amount reflected to the credit card bill.

• Do not depend on the credit card. Remember that there is a credit limit and your parents have an authority to cut-off your card once they know that you are not disciplined.

• If you have savings from your allowance, use it than swiping your card to the store.



I'm using my Parents credit card

Using parents credit card is not easy.

•You have to let them know that you will purchase an item and the amount of it, the reason you will buy it and so on until you convinced them to use their credit card.

• On purchased, you will also bring along your Mother or Father because they have to sign for it. The advantages of using your parents credit card:

• You will learn how to budget your allowance and, save money for your future purposes. • You don't need to ask for your parents that you will use your credit card because you have your own money from your savings. =)