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MANILA, Philippines – As adults, we create goals for ourselves that include career achievements and personal milestones. Usually, these come with a deadline.
Get promoted in a year, travel alone at age 25, renovate the house by age 40, send a child to school when he/she hits 5 years old – goals like these help us push our decisions towards one direction and are helpful reminders of what we can accomplish.
We then work our hardest in order to meet these targets. But life can throw curve balls and sometimes, there are milestones that are a bit farther than you thought they would be at a certain time.
If finances are the only roadblock, there’s one way you can fix it and still accomplish your goals in time: enter the installment card.
Fit for your every need
Unlike loans for cars or real estate, you’ll be able to use an installment card for whatever you need. Look for one that has a high credit limit (some offer up to P999,999 in cash), flexible monthly installments, and a low interest rate.
An installment card allows you to pay for the total amount you borrowed over a period of time, making it a very convenient option. You can also avail of 100% of credit limit without any fees or charges.
Here are some situations where an installment card can prove useful.
Home and renovation upgrades
Home renovations are exciting but they can also be tedious and unexpectedly expensive. Since contractors and carpenters typically don’t accept credit cards, cover extra costs by withdrawing cash using an installment card instead.
Once construction is done, you may also use a chunk of your credit line to buy furniture and decor for your home. Unlike traditional loans, there’s no need for you to reapply after you’ve already been approved initially. This will allow you to go on with your renovation without losing momentum.
If the next semester is proving to be more difficult to cover than the previous ones, an installment card can help tide you over.
All students (and parents) know that education incurs extra costs like project materials, field trip fees, and daily transportation. Having an installment card will also keep you from feeling like you’re constantly being caught off guard, and let you (or your child) focus on your studies instead.
For those who have been bitten by the travel bug, you know just how expensive vacations can get. The trick here is to always save up in advance. If you still need a little boost to be able to go to that dream destination, an installment card can give you peace of mind.
Aside from soaking in the food, culture, and sights, don’t forget your security. Ideally, you’ve created an emergency budget for unexpected events. If you weren’t able to include this in your travel fund, you can also use your installment card whenever the need arises.
Weddings and special occasions
Again, the best thing to do is to always save up as much money as you can before you need to start spending. But wedding planning is a marathon, not a sprint, and if you need a lump sum for early preps before you’ve packed on the funds, an installment card might come in handy.
The same goes for costs incurred later on. Anything wedding-related – be it the cake, dress, or venue – is notorious for being overpriced. There’s a chance you may have underestimated what you’ll be spending. When this happens, determine what you can let go of and what you can’t live without. Once you’ve figured out your priorities, use your installment card for everything else you still need to pay for.
An installment card can help you focus on your priorities, but having one calls for extra vigilance when it comes to finances. It’s not instant money for everything you might want, but rather a fallback for your needs. Make it a point to record all your installment card withdrawals and set aside money for each transaction once you have your own cash on hand. Doing so will allow you to reap its benefits more without getting overwhelmed by debt.— Rappler.com
The BDO Installment Card gives you financial flexibility and accessible cash for your every need. For more information, click here.