5. Pay the Minimum Balance on Credit Cards

If someone is suggesting you to pay the minimum amount for your credit card usage at a regular interval, then you may feel it is profitable to do so, as by this way, your pocket won’t be stressed. But bear loss now rather than suffering later in a longer run.

If your credit card usage is 15,000 and you are planning to pay only 3,000 per month, then may be for now it is good for your pocket, but later the interest on the rest of the amount i.e. 12,000 will increase and will end up piling up and will become huge later.

What Flexo says is, “You're basically turning a portion of your paycheck to your lender. Since you have to pay them first, you're not able to live your life with the money you make because it's obligated to someone else.”