My saving idea: Avoid late payment fee on credit card bills

Every week, ET Wealth brings you news and ideas about how to save and invest. But individuals have their own saving hacks as well. In this new section, we invite you to share saving ideas that have worked for you. Mind you, we are not asking you to suggest stocks, mutual funds or other instruments. We just want you to share the saving hack that helped you cut expenses or allowed you to put away more every month. The best ideas will be published every week.

Shahnaz Pohowala from Mumbai has an idea that can help you avoid unnecessary penalties on your credit card bill. While paying with your card is convenient, defaulting on the payments can cost you dear. Time your large credit card purchases to just after a new billing cycle begins to enjoy a longer credit period. This will allow more time to pay it off, and avoid shelling out hefty late fees for missing a deadline.



(Do you have a saving idea? Send your tip to etwealth@timesgroup.com with “Saving Idea” as the subject line.
The best ideas will be published and the contributor will get a copy of You Can Be Rich, the PF guide from ET Wealth.)