What is Credit Card Debt and Smart Debt Management Strategies

Pepsinarest23 Nov, 2024Finance

Young Indians face credit-card debt as they use credit cards without fully understanding the consequences. Read on to get insights on how you can effectively practice debt management and avoid financial pitfalls in your Recent surveys reveal that 65% of young Indians (aged 20–30) neglect monthly budgeting and 69% overlook fundamental debt management. Instant gratification, fueled by trendy phrases like ‘YOLO’ and ‘FOMO,’ has ballooned credit card spending and dues by 30%. In this generation which believes in ‘buy now, pay later,’ if you are looking for how to use a credit card the right way and avoid excessive debt, this article is for you.