5 Expenses To Keep Off Your Credit Card

Personal Finance experts recently came up with a list of 5 expenses you should not put on your credit card. This includes:

1. Tax Bills – Uncle Sam will set up a payment plan at a much lower interest rate than any credit card offers; right now the rate is around 5%.

2. Weddings – Lavish wedding expenses may be a mistake when starting out on a new life together. Better save that money and use it to reduce other debts or buy a home. Even Oprah has commented that we have created a tendency to overspend on weddings and create a fantasy expectation where more level heads should prevail.

3. Real Time Gambling – The rule is NEVER to borrow money while gambling to gamble even more. The excitement of gambling can send you into even more debt. Steer clear of casinos when you are short of cash, and only gamble what you have in hand and can afford to lose.

4. College Tuition – Unless you are planning to pay off your bill in 3 months time, this is a terrible way to finance college when school loans are available at much better rates.

5. Plastic Surgery – Like other vanity expenses, if you cannot pay cash then defer the temptation. The personal finance rule is to save up for this type of expense, or skip it.