Ok ba gamitin ang credit card for emergencies?

Ang sagot diyan ay oo, KUNG kaya mo itong bayaran in full sa on or before the due date ng credit card statement. This means that you have enough emergency savings para bayaran ito nang buo.

Here’s what you can do. Pay your credit card using your emergency savings kung hindi pa dumarating ang claim from the insurance company.

Yes, insurance ang tamang financial product na panlaban sa mga emergencies. Kapag dumating na ang claim, use this to replenish your emergency savings.

BIG NO na gagamitin ang credit card for emergencies, kung hindi mo ito kayang bayaran nang buo. Mahal kasi ang interest rate ng credit card dahil ito ay maituturing na “clean” loan o non-collateralized.

Ang emergency ay non-earning event. Kaya kapag ginamit ang utang bilang tugon dito, tiyak ang kahirapan.

As your financial guro, I advice you to avoid treating your credit card as emergency savings. Credit card is not a good source of utang. Ang primary gamit nito ay security and ease of payment, hindi utang.

Remember, you are ready to have a credit card IF AND ONLY IF you can pay this in full, on time, every time.

Ako si Sir Vince, nagsasabing ang pagyaman, napag-aaralan at napagtutulungan.