Over half of the respondents (55%) mentioned they were taking some sort of action to manage credit card spending, with some going to extreme lengths. More than 20% of the New Zealanders set a limit on their credit, while 10% preferred to keep their card out of sight to prevent overspending. Others went further and either froze their cards in a block of ice or cut them to avoid credit temptations.
Finder’s local editor, Angus Kidman, mentioned there are other more effective ways for people to handle their finances and suggests practicing the 50-30-20 rule, with 50% of the monthly income used for paying recurring bills, 30% spent for leisure activities, and the remaining 20% going into a savings account. Another tip suggested was switching to a low-interest credit card.
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