NU # 2 MBAH-10B by Sexy Cowboy Girl - MPC

Submitted by: Sexy Cowboy Girl

NU # 2

Date Submitted: January 11, 2013

NEW WAY OF SPENDING

CONCEPT

Spending is done out of necessity most of the time, however there are times that its done out of habit or simply "just wanting to spend". For some the urge to spend, shop, or buy is difficult to control and in the current era of plastic money (credit card), spending usually ends up with accumulated unpaid credit card bills.

What if there is a credit card that will help us control or minimize our spending? What if this credit card allows us to limit purchase of only the basic needs?

IMPLEMENTATION

I shall call this credit card MPC (My Priority Card). This is a credit card with a pre-installed program that will only charge basic necessities of living; like food, clothing, medicines, or other needs necessary for daily sustenance.  Each credit card holder will be allowed to pre-program their respective credit cards based on what they consider as a necessity. The credit card will only allow transaction of items that are pre-programmed in the card as chosen by the credit card holder. Items not programmed will not be recognized by the credit card, thus cannot be purchased. The credit card holder will also be the one to set the charging limit of his card. If the credit card holder goes beyond his credit limit, the purchasing power of the card will be blocked for a period of one month. Only after the entire bill has been paid that the credit card can be used again. For credit card holders who limit purchase to 80% of the credit limit will get 5% discount on certain items applicable in the next bill. 4

BENEFITS

·       Limits credit card charging of unnecessary items

·       Prevents accumulated unpaid credit card bills

·       May help prioritize purchase of what is only needed

·       May help "stick to the budget"