Financial Literacy for Everyone

Be a Money Superhero

Join Iron Man and the Avengers in this exciting new comic about saving money and saving the day.

Credit Pros and Cons

As with anything there are advantages and disadvantages to using credit cards. Your informed use of credit cards begins with understanding these.

Advantages

Immediate Access: Need a new set of tyres? Credit can help with an expensive, unexpected emergency and give you the flexibility to pay it off over time.

Security: Lose cash, and it's gone. Lose a credit card, and it can be cancelled. Also, if you report a lost or stolen card promptly, you're protected against its unauthorised use.

Record Keeping: Your credit card statement is an itemised list of your monthly expenditures, which can be helpful when it comes to budgeting.

Convenience: Credit cards are accepted widely, and they're generally fast to use.

Rewards: Using a credit card with a rewards program may earn you benefits like free travel.

Disadvantages

The main disadvantage to credit card usage is its cost to you in interest and fees. Wise use of credit means understanding those costs and acting accordingly. Keep track of your spending to ensure you can repay your credit card bill in full when it’s due each month.