Fool.co.uk: Do not pay in credit what you can't afford in cash

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Fool.co.uk: Do not pay in credit what you can't afford in cash

Graduates are being warned not to use their credit cards to fund purchases that they cannot afford to pay for by cash.
David Kuo, head of personal finance at money website Fool.co.uk, urged those fresh out of university to take on any job rather than doing nothing if they are struggling to find employment.
He said they should work even if the job is not related to their degree, such as waitressing or bartending, so that there is an income.
This will demonstrate a willingness to work to future employers.
Acknowledging that it is a difficult financial time for graduates, Mr Kuo said that if a purchase cannot be made in cash it should not be made on a credit card "because you will be storing up problems for the future".
Push, an independent resource for prospective students, has found that student debt now tops £4,000 for each year of study.
In addition, figures from money education charity Credit Action show that personal debt in the UK at the end of June stood at £1,444 billion.
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