One of mankind’s greatest inventions is credit cards. Ironically it has also become one of mankind's greatest curses. In the Philippines most credit card companies charge 3.5 % interest rate per month. That is about 42 % per annum. Using the Rule of 72, (which I have extensively discussed in the post entitled “How to use the Rule of 72 to wisely manage debt”) your present debt will double every 2 years. So, if your credit card debt is P 10,000.00, in 2 years time it will become about P 20,000.00. The best solution is of course to pay all your credit card debt immediately. That is if you have the money to do so. But what if your credit card debt amounts to P 100,000.00 or even P 200,000.00 what should you do? What if you have multiple credit card debts? Here are some great suggetions: 1.) Obtain a debt with a lower interest rate - Some lending institutions and even banks offer an interest rate of 0.99 to 1.5 % interest per month. This is much lower than what the credit card … [Read more...]
Wisdom, Knowledge, Adventure, hacks for polymaths ... Life
Welcome polymaths !
Ever get the feeling that you seem to don't know what to do with your life because there are just so many things that you want to do ? I know, I've been there, so welcome to the club.
My name is Zigfred Diaz and I am a polymath. After more than 6 years of bloging about almost anything under the sun and having sort of a "blogging identity crisis." I've finally embraced who I am and decided to turn my main blog into some sort of guide for people with so much interest. Feel free to poke around.