Credit cards are good when you’re buying something you know you can pay back quickly, or for emergencies. The goal is to pay the money back very quickly — or you’ll have to pay interest. And the longer you wait, the more you’ll pay!
Now let’s look at loans. With loans, you borrow all the money you need — all at once — and you pay it back monthly. With loans, you also have to pay interest — but it’s usually less interest than you’d pay with a credit card. Plus, with a loan, you pay it off and you’re done! No more loan
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