You could find yourself in that pathetic situation where at least half of the minimum repayment each month will be evaporated paying the high interest charged!
It is the equivalent of throwing your money on to the fire!
The lesson is only spend what you can afford to pay off in full at the end of each month!
In the good old days, wise people would save up before making a purchase. Given the present financial crisis, we may well have to return to this common sense approach!
Aled Evans
Only spend after your boat comes in!
👍
Money saving advice thanks to Martin Lewis
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