Credit cards teach you to be a debtor. The credit card companies will tell you that credit cards will teach YOU how to manage your money. The truth is THEY are managing your money! When you are using a credit card whose money are you using? It’s their money, that’s why they can charge interest!
What you are learning to do is manage debt. Totally different don’t you agree!
“A debt is a debt, whether it’s margins or mortgages and debts are all the same, no matter how you try to camouflage it. You never get much out of it except trouble. On the farm or on Wall Street, if you use other people’s money, it costs you more than it’s worth.” Sue Sanders, U.S. oil producer.
Common definition of dead beat: One who persistently fails to pay personal debts or expenses
Commonsense definition: This isn’t someone who robs Peter to pay Paul. This person can’t even rob Peter!
When you live on cash, you understand the limits of the world around which you navigate each day. Credit leads into a desert with no visible boundaries.
Navigate with care
Jacques
CreatingWealthThatLasts
2 comments:
Jacques, Thank you for the great way that you have put this, debt is debt no matter where it comes from. Cash is better.
Dan and Deanna "Marketing Unscrambled"
Hi Jacques .. navigate with care .. a great maxim to follow when it comes to cash and credit!
Thanks - Hilary Melton-Butcher
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