Marketers have successfully conveyed to the Russians the idea that you need to live here and now, and you can pay for it later. At the same time, people rarely think about pennies and interest that accrue if you do not have time to pay off the debt during the grace period, says financial consultant Tatyana Volkova.
According to the specialist, interest rates can often reach up to 70% per annum, and then a credit card becomes a problem. Therefore, it is better to stop using small consumer loans and credit cards.
“As for the situation as a whole, there is only one way to solve it – stop using small consumer loans and credit cards. Even if now you have a certain debt on it, I recommend either borrowing money from relatives, or taking a consumer loan at a lower interest rate and closing the card, ”advises Volkova.
After paying off, she notes, it’s worth starting to develop the habit of financial planning and income-expenditure skills.