New Delhi, March 7 -- In India, where good financial management is highly valued, still currently we have limited reach of financial literacy in the country. Investors lack basic understanding of asset classes and investment tools. Due to this it is often seen that: individuals enter unsustainable debt obligations. That is why it is important to be alert about these everyday traps if one wants a stable financial future.

Credit cards are easy to use, but excessive dependence on them can soon become debt. Swiping for everyday transactions without a strategy and proper plan of repayment tends to result in accumulating high-interest debt. It is hence very important for credit card users to be careful.

You need to clearly understand that the...