Monday, June 30, 2008

You'll Never Get Ahead If You Borrow To Buy The Essentials

You’ll Never Get Ahead If You Borrow To Buy The Essentials

If you’re using your credit card to purchase the groceries, the gas, or any other monthly normal recurring bill you’re never gonna get ahead.

I know some of us now use credit cards to purchase everything. That’s fine. But, if you are not paying off the credit card at the end of the month you’re financing your normal bills. It means you’re spending even more money than you think on stuff you need and will never pay off your card.

Can you imagine paying interest on the Starbucks coffee and the gas tank? I use a debit card a lot to get gas and shop. A debit card whacks your checking account immediately. If you don’t have the cash you bounce it or don’t get it.

If you are in this position now its time to use my $15 dollar strategy. Do not continue to spend what you don’t have. Its like a ticking time bomb. Just waiting to go off.

David Dassow

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