People who live on credit cards will eventually face two situations:

One: Living on the loan to support the loan or the wife and children are separated after overdue payment

Two : Use bank money to do your own thing and get better and better

Most people are the first type, and a few people are the second type

I don’t say it based on my feelings. Data

is data derived from logical reasoning

Look below: The first type of people: do not understand the product; do not understand the business using loans; they all heard that credit cards are very It’s easy to use. I heard that stocks can make money, but I fell into a debt trap out of nowhere!

1. Regarding the product, can you answer these questions in your self-test?

The interest in the advertisement is 2 yuan. Does that mean daily interest or monthly interest?

What is the minimum credit card interest rate? How is it calculated?

There is an approval chain between banks and institutions, did you know?

Do you know how to calculate overdue interest?

Can you answer it? After talking about the product, let’s see how they spend the money

2. The way they fell into debt crisis is probably as follows:

All my friends around me are using credit cards, so I I used it

My friend said that if I install this credit card, I can use it

My friend said that if I install a machine, I will have more money on the debit card

I will have more money. , my friends have all made money from financial management

Can I start a business and open a milk tea shop? I think the business is good

Oops, it’s almost too late. It’s okay. You can transfer your card. It saves money

Oops, I can’t reverse it, it’s okay, there are still online loans

I can’t pay back the online loan, and my friends are gone. . . . . .

Are you familiar with this process? Let’s see what the second type of person does. The second type of person: always does things within their own circle of competence. They don’t touch things they don’t understand, or they invest in small experiments at the boundaries of their abilities.

1. Have studied the interest rates of various bank products; the qualifications required to apply for the products; how much profit is needed to balance or exceed the money spent; what are the country’s recent policies?

2. Study, research first, and consider carefully before deciding which one to use

3. Don’t gamble

4. Don’t follow the crowd in financial management, but choose what you understand or are sure to be able to More than the interest rate

5. When running a business, you must have a clear goal. Projects that require a lot of money, projects that cannot be seen as profitable, and you will not use credit card money to do your best!

So I say there are fewer people in the second category, because these are the elites among the elites. Some people don’t have the patience to finish reading an article. You ask them to research products? Independent thinking and judgment?

After all, remembering simple things, tending to make mindless decisions, and doing whatever others do is the natural state of our human brains after evolution. It is too difficult to overcome it

So stop blaming the banks, these consequences are obviously our own fault. If we don’t realize the scope of our circle of competence, do things we don’t understand, and don’t learn, it’s normal to be cut off like a leek and deceived.

What we should do is: never make this mistake again in the future, learn to do research and learn to make independent judgments before making decisions

I know this answer does not cater to everyone's taste. But it is quite meaningful to let everyone get some thoughts from the mistakes. At least you can reflect on whether you should take the time to study the interest rate of the product and which loan is more cost-effective to pay off first? What regulations are based on the personalized negotiation? How can I fight for my own interests? It’s all just money. Why don’t you do it?

There really seem to be more and more credit card slaves around me, so I feel it is really necessary to talk about credit cards.

Credit cards are a product of the Western banking system. This thing became popular in the United States. It is a well-known fact that Americans are very hungry. But is the ancestral motto of our ancestors, "Be diligent and thrifty in running a household and live within your means" wrong? In fact, judging from the situation at this stage of the epidemic, there is no such thing.

In the United States, there are not many families who can afford two hundred dollars at once. I have a friend who deposited $5,000 in a Bank of America, and the whole bank came out to "visit" him. Yes, Americans don’t have the habit of saving. They are just used to spending tomorrow’s money today. So what are the consequences of this kind of credit overdraft? In 2008, the subprime mortgage crisis that swept the world came from the consumption habits of Americans. As long as you are a U.S. citizen and have the need to buy a house, we can lend you money. If it still doesn't work, it doesn't matter. You can securitize the bad debts and have the secondary market pay for it. Then the brokerage will remortgage and refinance these assets. Originally, The crisis was not that big, but after financial derivatives passed, this snowball was enough to crush all living beings. Therefore, the advanced consumption view of the United States has been proven to be wrong. During the epidemic, why can the Chinese work at home for several months without any problem, but why can’t Americans? Because they don’t even have 200 US dollars in cash, and online payment is not yet developed in China. If you don’t let them go to the supermarket to swipe their credit cards, they will get stabbed in the neck.

Looking at China's credit card crisis, I put it more seriously. I call it a "credit card crisis." Because this kind of thing is originally an imported product, something Americans play with. Then for a while, almost every employee in the bank had a task to push out credit cards. It seemed that the tellers at the grassroots level could be assigned tasks of twenty credit cards, let alone the upper levels, who could also be assigned tasks of hundreds of credit cards. But what are the consequences? It is the younger generation in China now. When they are economically weak, they should have thought about their own strengths and the turning point of their future livelihood. Alas, they actually discovered that with credit cards, they don’t have to struggle for the time being. Then they began to use credit cards to make excessive purchases, and some even began to use credit cards to cash out. It may also be that they have actual consumption needs, or they choose to increase leverage for their consumption just to please their girlfriends. The credit card bill has to be paid off, but what should I do if I still can’t pay it off by then? Some good children tell their parents the actual situation, but others do not. What they choose is to apply for more credit cards and renovate one thing to make up for the other. Then cycle leverage and cash out. The result is predictable. There was not such a big hole in the first place, but later on, a person owed hundreds of thousands in bank card debt. This situation is very dangerous, a debt collapse, and preferably a credit collapse. In the end, he was blacklisted by the bank, unable to take high-speed trains and planes, and was also restricted from high consumption. This kind of stain in life cannot be washed away even if the credit card debt is paid off in the end.

Back to the Q&A itself. What will be the final outcome of this card slave? I tell the questioner and more card slaves responsibly. This kind of person's life is destined to collapse, not only the debt collapse, but also the credit collapse. I know very well what life is like for this kind of people now, because there are real people like this around me. For people who are trapped in a life of credit card debt, it can be said that they have been addicted to a "financial drug" and must find a way to quit. First of all, you have to tell your relatives and friends and ask them to help you find a way to pay off the credit card debt. Or if it is too much, you can make a rescue plan, then go find a job, work more jobs, and pay off the credit card debt.

You have no choice but to quit your leveraged life.

In addition, I would like to warn young people who are currently using credit cards to make purchases and leverage their lives. Never destroy the credit you have relied on for your life for the sake of the good life in front of you. Life is still very long, and it is impossible to develop abilities just by pursuing these delicious, easy-to-wear, and fun things. When you are in your twenties, the most important thing you should do is to think carefully about what abilities you will use in the future. Come and settle down, there are some hardships in life, you must endure them all, and then you can have a good life in the future. Have you never experienced the bitterness of life, but just want to enjoy the sweetness of life? It's very possible that you didn't dance well one time, and you will be doomed. It's not like there are no such examples around me, some commit crimes and some commit suicide. Think about your loved ones, and then quit "financial drugs" and a life of leverage. Life is bitter, but sweetness is only fleeting. Only by recognizing what life is, can you walk the road ahead well and steadily. No matter what age you are, the ancestral motto of “living within your means” is still useful.

A young couple who had nothing, relied on their credit cards to cash out to buy a house and a car, and their business was almost successful.

My college roommate is a heavy credit card user, with nearly 30 credit cards, with a total limit of one million. His wife is similar, he gets 40% off.

First, they all have college degrees and come from rural areas.

After working for ten years, I rented a house until my second child was born.

In 2016, before housing prices soared, I cashed out my overdraft and started buying a house in Qingdao.

Here are the details

There are four or five POS machines at home, a handbook, every money transaction, every overdraft and repayment date of each card, and the calculation is not bad in one day. , after modifying the billing date, each card has the longest interest-free period to the maximum extent.

At that time, the down payment was 600,000 yuan, and more than 400,000 yuan was cashed out. Later, the decoration was also cashed out, and the down payment for buying a car was also cashed out.

Currently, the annual handling fee is about 30,000, which is enough to cover everything. The family has sufficient cash flow. In the past three years, the amount of debt has not increased. In addition to fixed expenses, the couple’s income is the mortgage and car loan. loan.

On top of this pressure, the two have developed various part-time jobs. Among them, she and his wife are doing self-media and writing articles about workplace emotions. He and his classmates from Linyi are doing Pinduoduo agricultural products e-commerce. As of this year, In August, the car loan was paid off.

2

The average cost of 10,000 yuan is 500 yuan per year, which is five points of annual loan interest. His plan is to pay off his credit card debt within three years and stop being so cautious.

I sell points every year and collect some wool, which can be exchanged for various gifts, for personal use or socializing, various credit card discounts, movies, car washes, milk tea, supermarket discounts, Starbucks, Kaifeng dishes, and even mobile phone bills. top up.

Every consumption expenditure is carefully calculated, and the cards are sorted out every Sunday afternoon. The two of us have fifty credit cards, and there is no overdue record. We have enjoyed the preferential points redemption of each bank's cooperative merchants. .

By the way, the bank that applied for their mortgage also used a credit card to learn about various bank financial interest rates, and then compared the bank from bank to bank before choosing the bank with the best deal for the same principal and interest.

Three,

The key to the above is not the number of cards, nor the amount of credit, nor the shedding of wool, but the fact that his wife, who is as calm as water, is thoughtful and meticulous. lady.

She graduated from a technical secondary school, worked part-time for two years, continued her studies for three years and obtained a college diploma. Later, she worked to save money to upgrade her undergraduate degree. It was not until she met my roommate that she got married and had a baby that she gave up the idea of ??upgrading her education. .

To be honest, the work level is average. The current income is only less than 10,000 yuan. I am a senior employee, deeply trusted by my boss, and I have very free working hours.

Her philosophy is different from that of most Shandong women. Those who owe money to banks do not owe relatives and friends, and those who owe debts do not owe favors. Human relations, sophistication, and social interactions all come together in one code.

She is a credit card expert in her circle of friends, but she never touches stocks, funds, P, and various currencies. She only sells real things that she understands and can see, such as buildings in Qingdao and her husband. The homestead in my hometown, cars, TVs, milk powder and diapers for my children, tuition fees, etc.

The terms loan, interest, principal, debt, currency, and cycle have been studied very thoroughly.

You can carefully appreciate her words that I admire the most.

As a poor person, the only thing we can exchange for money is credit, which is the foundation of our livelihood.

The better your credit, the more the bank will trust you and give you a higher limit. Then I will study how to improve your credit and increase your limit.

In the past few years, everything from building consumption flow to various fancy repayments, from small installments to multiple transaction hedging has been done flawlessly, and the bank’s backend system has increased their credit card limits. rising.

She ignored the endless routines recommended by the bank for financial management, consumer loans, reserve funds, universal funds, all kinds of high limits, and fancy packages.

Without Jingdong Baitiao, Huabei never uses it.

She only believes in credit cards.