Zero EMI By Ra Ma. Palaniappan

  1. Membership Fee: Some banks charge an annual membership fee for a credit card.
  2. Over-limit Fee: This fee will be charged when the credit limit is exceeded.
  3. Transaction Fee: This will be charged while transacting on different currencies.
  4. Balance Transfer Fee: When we transfer the outstanding balance from one card to another, the balance transfer fee will be charged.
  5. Late Fee: It is charged when we fail to pay the full amount on time.
  1. Do not use more than one credit card, as it will be difficult to track the expenses of two cards.
  2. Always pay the dues in full.
  3. Keep track of your credit card expenses.
  4. Read the monthly statement carefully, just to find if there are any errors in the statement.
  5. Do not ever withdraw cash from a credit card, because the interest will be charged from the next day. It is always judicious to make a purchase.
  6. Do not take another loan to repay your credit card loan
  1. Repay
  2. Prepay
  3. Restructure
  1. Create a Budget: Take stock of your income and expenses, you can use an app to manually enter and track your expenses every day.
  2. Cut down expenses: At the end of the month, see what impulsive unessential spending you can get rid of in the future. Be frugal, it is different from being stringent.
  3. Get organized: Collect all the important financial documents, health insurance documents, passbooks, and put them in a folder, it becomes easy to manage and track expenses and reduces the stress.
  4. Build an emergency fund: It is good to have savings so that we could deal with trying times such as recession/job loss. It is good to have an emergency fund of your monthly expenses multiplied by six. Keep a deadline and start working towards building an emergency fund.
  5. Stay away from loans: Stay away from loans, especially credit cards and personal loans.




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Arunachalam Alagappan

Arunachalam Alagappan

“We Rise By Lifting Others”

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