‘Flexible friend’ or ‘plastic money’ are two of the most widespread informal phrases used to refer to credit cars in the English-speaking countries. These are pretty affectionate terms and most people are glad of having a credit card or two. There are also people who cannot trust themselves with a real credit card and they normally use pre-paid cards, which means that you have to put the money into the card’s account before you can draw any money out. These are clearly not credit cards as the owner does not get any credit. Debit cards are similar to this.
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Mutual funds are one of the ways whereby people can earn some money by saving without much risk. With mutual funds the company has a portfolio of stocks, shares and bonds that can increase the client’s investment. While many countries have their own type of mutual funds you will find that Canadian mutual funds have a parent company that regulates their operations.
A very diversified investment portfolio has a minor opening for a position in gold. Some people think that investing in gold means buying gold coins, usually South African Kruger Rands, which are one troy ounce in weight. Other speculators buy gold futures on the commodity exchange.
Ask yourself: does the credit card work for you or do you work for your credit card? Most people’s answer to that question will depend on how they treat their “plastic friend” as credit cards are often known. As many people with burned fingers will tell you, they didn’t realize that things had gotten so bad until very late, because most credit card offers try so much to sound like they are actually running a charity. Well, they aren’t.
If a credit card is used properly, it is one of the most powerful financial tools. But not everybody can afford to pay the expensive interest rates that most credit card issuers charge. This is where low interest rate credit cards can assist people who plan to maintain a balance on their account and not to repay the full amount monthly. But, what does interest or APR stand for when talking about low interest rate credit cards?
