Credit card

Listened to budget 2010 just now, one of the issue caught my attention...credit card. As mentioned by pm, to encourage the good spending habit gov had decided to increase RM 50 gov tax on the principal credit card holder + RM 25 for supplementary annual fee including for the free waive credit card.

I think it is a wise step taken by the gov as most of the credit card holders are freshies which were just graduated.This group of users tend to spend more than their income (talking from my personal experience ok!!). They might end up being moneyless and spending their whole salary paying the credit card debt their whole life!!!

I've terminated all my credit cards and only spend with cash. Not to brag that I've money but this is the only best way to stop me from spending luxuriously without considering the actual money I own. Alhamdulillah, it works, cause I know I can't spend if I don't have cash:)) and I've ease my monthly financial burden from paying the credit card...It turns out to be ok jek if you don't have credit card (cause last time I thought credit card is crucial!!!).

However, don't feel offended with my view cause I know there are still many people out there know how to use their credit card wisely:)))...