Take advantage of the 50-day interest-free golden period of your credit card, and you will get more discounts during these 50 days.
Every credit card has an interest-free period of up to 50 days, and you don’t need to pay any interest if you pay off your credit card debt within these 50 days. However, if you haven’t paid your credit card bill after 50 days of gold, then you will need to pay interest on your credit card.
Here is an example to make it easier for everyone to understand. Michael’s credit card statement is issued on the 28th of each month, so all Michael’s consumption before the 28th will be included in this month’s bill, and the consumption after the 28th will be included in the next month. ‘s bill.
According to the regulations of the credit card, Michael needs to pay the bills before the 17th of the next month, otherwise he will be charged interest of up to 18% pa. This means that Michael should have about 20 days to pay his credit card bill from the date of issue (28th of each month) to the date of checkout (17th of each month).
The 30-day consumption day, plus the 20 days from the order date to the checkout date, is a total of 50 days. If you make good use of this 50-day interest-free golden period, then you will enjoy more discounts.
You might consider doing this by using credit cards at stores that accept credit cards, and using e-wallets at stores that don’t. When adding money to your e-wallet, you may consider using a credit card. That way every transaction you make is “future money” using your credit card, and the salary you earn from your job can be invested.
Investing in money market funds (Money Market Fund) is the best choice, because money market funds do not bind funds, investors can withdraw money when they need it. The so-called “money in need” means that before the end of the 50-day interest-free golden period of the credit card, you need to withdraw money from the money market fund to pay off the credit card bill.
Notice! You must pay off your credit card bills before the billing date, or you will be charged high interest, which is several times higher than the yield of money market funds. After you have accumulated enough money, you can start investing in other higher-yielding investment projects, such as stocks, trust funds, etc.
Last, I’d like to remind everyone that when it comes to consumption, you must do what you can. Don’t think that you will use “future money” to consume indiscriminately. In the end, you still need to pay for it yourself.
