en-us http://backend.userland.com/rss Your Friends @ Myvesta.org.uk (stever@myvesta.org) myvestaukblog_archive.html stever@myvesta.org 114357607021202147 Credit cards can catch you out if you do not plan your finances properly.

We are being urged to ensure we know exactly how much we intend to borrow and how much we can afford to pay each month before signing on the dotted line.

Without budgeting properly many people can fall in to the trap of taking out a credit card and falling behind with repayments, often not having considered penalty fees and interest.

New research from Egg shows 22 per cent of card holders spend their money on day–to-day objects.

Mark Maguire, spokesperson for Egg, says getting a low APR on purchases is essential: "Some things are predictable, such as your mortgage and some things are more sporadic, such as restaurants."

"If you know how much you will have after bills, then you will know what you can spend and also where you can make savings," concludes Mr Maguire.

Egg's Retail Therapy Index shows that in the UK we spend a massive £65 billion a year on daily objects, such as snacks and newspapers.

http://www.myvesta.org.uk

© Adfero Ltd