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Robin pays off her credit card debt


When you have credit cards, you have to use it wisely. Many people who use credit card for paying everything in eventually end up in debt. All credit card charges certain amount of percentage interest. Therefore paying off the debt regularly is a must to avoid being trapped in credit card debt. Having more than one credit card is a lifestyle of most city dwellers. When someone does not have enough cash to pay for an immediate spending, he or she can rely on credit card to pay it. The best recommendation for somebody who has been trapped into credit card debt is paying it off as soon as possible. Try to make monthly budget so that you can write down a number of spending priorities that you should pay first. These priorities are categorized as basic needs. They are the spending that we pay for food, clothes, housing and energy (fuel, electricity).

Recently, the US government issued a special regulation concerning the issuance of credit cards among college students. Before a credit card application from a student can be approved, she has to get approval signature from her parents. In addition, banks have applied stricter limit to the amount which a college student can spend on her card. This regulation is aimed at creating awareness among college students and parents on how they can be more responsible in managing their personal finance. Students often become the victims of their own irresponsible consumer spending. They like to eat out in expensive restaurants with their friends and pay this kind of spending using credit card. With the new regulation, cardholders will have to arrange their spending plans or budget before going to malls or supermarket. Approval from parents is now a must and banks will only issue the credit card when there are signatures from parents in the application form. In other words, they will also have to control the spending habits of their children who hold credit card. However, card issuers give more flexibilities and assistance to college students who want to buy textbooks or other school supplies both from the internet or bookstores where significant amount of discounts have been given for them. It is expected that the new regulation will help improve the financial condition of college students so that when they graduate from school, they will not be trapped in debts. Instead, the use of credit or debit cards support them in finishing their study on time and with better achievements.


Watch the video English conversation about how Robin struggles to pay off her credit cards debt and answer the following questions.



Also read the following articles to know more about how to pay your credit card debt:



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