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Tamil Software
அழகி மென்பொருள்
  
Tamil-English bilingual webmagazine dedicated to education of the masses through E-books, articles, worldwide informations, Slideshows,
Presentations on various subjects, photographs and images, moral and objective oriented stories and Lectures including audio and video

About debit cards /credit cards

Courtesy: Ganapathy, kalakad

Credit Cards, Debit Cards & ATM Cards

The Financial Weapons of Mass Destruction

Recently I got an opportunity to watch a video of a 100 years old woman on You Tube. This lady is from the Utah State in USA. Even at this age she is keeping a good health. She doesn't take any pills nor has she any chronic disease or illness. When she was asked about the secret of her long, healthy life, one point from her answer attracted my attention. She said "We have never used Credit Cards, Debit Cards or ATM Cards in our entire life. We have remained carefully away from these cards. We always believed in cash purchases. We used to go to the market with limited cash in pocket and used to buy only those things which could come in that limited cash. As a result we automatically developed habit of economical life style. We never 'over purchased' any thing nor we had to throw away anything. We never used to bother about how to settle credit card bills nor whether we had sufficient bank balance. My husband died at the age of 88. He was quite healthy till the end. Even today I am not using any of these cards."

This lady is living in Modern America where Credit Cards and Debit Cards are used everywhere freely and openly. You can buy anything including Grocery, Gas, Bus Tickets, and Railway Tickets. You can pay your Hotel Bills by using these cards.

Credit Cards, Debit Cards & ATM Cards are basically invented, developed and produced for the sake of convenience. But now a day these cards have become financial weapons to destroy your Financial Health.

When you have a Credit Card or Debit Card in your pocket 'uncontrolled' purchases and spending starts. When you have ATM card in your pocket frequent and uncontrolled withdrawals start. There is always a tendency to over purchase or purchase costly things. Nobody bothers to keep an account of these purchases as; I have observed that in most of the cases the receipts of such purchases are simply thrown away. No body bothers to cross check the Credit Card Bills. If Credit Card Bills are not paid in time there is heavy penalty. Some Credit Card Companies charge interest at 3% per month compound (Which works out to be nearly 40 % per year). Debit Cards have made payment system so simple. This motivates in buying unwanted things or unwanted spending. ATM Cards has made cash withdrawal procedure very simple. I know number of well educated house wives who do not know any other Bank Transactions other than withdrawing money by using ATM. They even don't know where their Banks are located. In short these cards destroy Financial Discipline. And no Financial Discipline is a sure way of a bad Financial Health.

American Express is major Credit Card Company in the world. Investment Guru Warren Buffett is a major share holder of this company. This means that whenever American Express Credit Card is sold anywhere in the world he gets money. In spite of that he has advised youths to 'STAY AWAY FROM CREDIT CARDS and Bank Loans.'

Please do not have any misunderstanding that I am against these cards or I am suggesting that these cards should never be used. If we are getting some Financial Benefits, we should definitely use these cards. I know a couple of examples how these Cards are used to get some Financial Benefits and gains. But unfortunately such examples are very few.

I have seen people having number of Credit or Debit Cars in their wallets. I have also seen them exhibiting these cards with pride. We should have only One Credit Card which should be used only in emergencies. While the use of Debit Cards and ATM Cards should be bare minimum.

We always make some new resolution for every New Year. Now the New Year 2013 has begun. We can make a resolution that we will not convert our Credit Cards, Debit Cards & ATM Cards into Financial Weapons of Mass Destruction.

Can we do this?

What do you think?
D. GANAPATHY

Mumbai

dear Mr. Wilson: to enable you to become of our kalakd group,. i had put cc of this mail to you. you passed s.s.l.c.in 1984 from board hight school, kalakad you said. you are from karuvelankulam. please become member of the group. i spoke to you on this subject more than once.

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