Individuals currently enjoy a wide variety of payment options include cash, cheques, debit cards, credit cards and online payment services such as PayPal. Although many of these methods such as credit cards are very convenient, they can also cause many problems when not used properly.
High Interest Charges
One of the biggest disadvantages to using credit cards, is the extremely high interest fees charged by the credit card companies. The interest fees are always significantly higher than the cost of obtaining a traditional bank loan. In fact, many credit companies charge as high as 20 percent for any purchases that aren’t paid in full at the end of each month! The high interest charges are what keep the credit card companies in business so you need to check the fees of each particular card before you apply for one.
Temptation To Overspend
Credit cards can be dangerous for individuals who are not good at budgeting. The temptation is very easy to overspend because you don’t need to pay for your purchases upfront. Regardless of how much money is actually in your current account, you can charge purchases up to your maximum credit card limit. Somehow signing a piece of paper at the time of purchase doesn’t always feel like you are actually spending money.
This is exactly the mentality that the credit card companies want users to adopt.
By spending more than they can actually afford each month, individuals end up paying very high interest charges each month. Because you are only billed once a month, it is also very easy to forget about purchases you have made using a credit card. You may end up with a very unwelcome surprise at the end of the month once you see just how many purchases you signed for during the past 30 days! Any unpaid balances are charged very high interest rates that can quickly add up. If you continue to pay only the minimum amount, your unpaid balance can often become unmanageable.
Credit Card Fraud
Another common problem with credit cards involves credit card theft. Credit cards can always be stolen meaning that other individuals can start to make charges to your account.
Credit card fraud is becoming an increasing problem due to more sophisticated technology. Nowadays, you don’t even have to lose your physical card for others to make fraudulent purchases. Criminals have devised even more devious methods of obtaining credit card numbers from individuals. This means you may not even realize your card has been compromised until you receive your monthly statement. You need to check every monthly statement very carefully to detect any suspicious charges.
Although credit cards are convenient, they carry very high interest charges. Carrying an unpaid balance for an extended period can get you into financial debt very quickly. You often have a greater temptation to overspend because you don’t need to have money available at the time of purchase. Last but not least, credit card theft is an ever-increasing threat that you need to consider before applying for a card..
Travelling Solo? Make a point to meet new people everyday and you'll have a fab time. Here's you can come home with a whole new list of Facebook friends.
Rather own, try being stuck in a hotel room all on your own, try shared rooms at hostels. The living room and kitchen are great places to strike up conversations.
Many hostels offer free or cheap walking city-tours and these are a good way to get chatting with a group of people.
Activities such as snorkelling excursion, island trips and cooking courses are great for meeting people. You'll be doing things with strangers, so it's difficult not to get talking.
4.EVENTS AND PARTIES.
Look up your hostel's bulletin board for festivals or shows happening in the city. BBQs or movie nights are the perfect place to meet people from all walks of life.
When you are traveling alone, chances of you meeting people are much higher in buses, trains or in a plane. So go ahead and ask a fellow passenger for info on bus routes ar places of attraction. Beware of dodgy characters though!