The months without interest are the great opportunity that many parents take advantage of for the return to classes. They represent that respite to buy everything that the children need and that they will occupy throughout the school year.
Many families turn to months without interest because many establishments and stores have the option of making urgent purchases and start paying them the next month.
If you use them wisely, these can be a good strategy to buy what you need most without putting your monthly budget at risk.
According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef), in 2015 the economic spill thanks to the return to classes, spending was 70,000 million pesos.
According to the commission, the minimum average cost per child is around 2,000 pesos. Therefore, if you have more than one child of school age and you are not well prepared for spending on school supplies, the outlay can be very strong for your family finances.
Expenses such as the end of class festivities, disbursement for vacations outside the city or small trips to the movies, museums or business parks so your children do not get bored at home can prevent you from having a fund so that the return to school I drown you in debts and hard-to-pay bills.
If the months without interest are your option to cover all the expenses of return to classes, the Condusef recommends not to get into debt without knowing all the options that can help you to eliminate the anguish for the summer expenses.
The time to opt for a credit
Interest-free months can be a great help for those times of many expenses, such as back to school, but only if used efficiently.
Otherwise, this solution can be counterproductive to your pocket and become a snowball that can be difficult to leave.
There are some considerations for you to use the credit for months without interest and pay everything you need to return to school.
The objective of these points is that you should not generate more debts or financial problems:
- Know your credit card. Knowing the amounts of debt, the indispensable minimums that you must pay, the cut-off date and other important data will help you to have an optimal use of the credit. It is preferable to contemplate liquidate as quickly as possible so that several payments are not collected.
- Do not exceed your budget. You can have the idea of buying items with a fixed budget and when you arrive at the store, you find many options that although you like them more if you buy them, they do not coincide with the expense you already have planned. Do not fall into temptation!
- Separate your expenses. It is important to only consume the money you need from your credit card. Therefore, you must separate the fixed expenses, such as food, from the budget you have for registration or uniforms.
- Know the time you will be paying. The months without interest are paid in installments, it is very important to keep in mind that the credit is not an extra income. You must use it based on a plan in which you contemplate the time during which you will be committed to liquidating that loan, because at the end that is it- site web http://www.thesherwoodsinn.com/ask-and-you-will-receive-sensible-tips-for-getting-regarding-your-business/ Thesherwoodsinn.
- Know several credit options. Before using your card, you should know what is the ideal type of credit for the purchase of school supplies. In addition to the plastic, there are other financial supports that you can use or request to solve the panic purchases prior to returning to school.
Spending wisely means analyzing how you can use your credit card wisely. Faced with this scenario, you should analyze how you would solve the purchase and acquisition of school materials, meditating before the state in which your family economy is located.
Part of a good management of credit cards is incorrectly distributing the credit money for your purchases. To get to this, you should always consider opting for the season’s own offers.
The faces of the credit card
Credit cards are one of the most common financings, however now you can also help with other credits, such as payroll, to meet your goals in this return to school.
People still prefer credit cards to use the months without interest, although there are alternatives, this form of payment continues in the preference of users.
Considering the different types of financing that exist, there are several things you should take into account that could affect your finances, for example, for credit cards:
- Not knowing what the credit limit is.
- Disowning and forgetting the cut and payment date.
- Do not take into account extra card costs such as an annuity.
- Make minimum payments.
The tricks to take advantage of the months without interests
Several banking institutions have fixed credit plans within a credit card. They are parallel plans to the months without interests. They also charge interest but their rates may be preferential. It even has a greater benefit than those offered in revolving credit cards.
Always research what offers banks have for returning to school; some have months without interest on all their purchases.
The only thing you have to do is check to what terms you can buy your school supplies. Do not forget that months without interest may seem very attractive but only if you know how to use them correctly.
When choosing this method of payment, you must take care and remember each important date for correct use of your plastic. If you do not keep up with your payments, the delays will turn into a snowball.
It is recommended that you be aware of the commitment you make with credit cards. When you go to buy your school supplies, choose only the expenses that can be paid with your card.
And it is always important to know the CAT (Total Annual Cost). It includes interest and commission costs. If you have several plastics, always use the one with the lowest CAT.
Keep in mind that before buying your school supplies, you should compare several options. In addition to checking the quality of materials for the rest of the school year of your children, you are acquiring an expense that if you do not handle well, you can drag until the next start of classes.
Compare prices and economic solutions so that the return to school is an unforgettable experience for you and your family.
If in addition to your school supplies you are considering doing other mid-year expenses, we recommend our downloadable How to take advantage of the mid-year discounts, where you will find tips to be an expert or expert in the August offers.