Minority Mindset Jaspreet, what is your opinion on using that cash back reward from the credit card company to buy stocks, like Pepsi or Coca Cola for whatever price since that money is almost “free”? Thanks a lot is you answer! The channel is awesome man
There are a few 3rd parties that can be used to pay rent with a credit card. (RentMoola, Plastiq...)They do charge fees, however for that service. I had the same thought as u a few months back n googled it to see
These are the exact reasons I use a credit card almost exclusively. But, it does take discipline. Every time I go to make a purchase the words of Robert Kiyosaki ring in my ears, "Rich people buy assets, poor people buy liabilities."
@@spektred You're not wrong. The middle class is (typically) the major consumer class, that's why it's disappearance is devastating to an economy. The funny thing is that most folks will say they're middle class, when in reality they are more likely lower class. Upper lower class maybe, but lower class nonetheless.
As a Private Investigator, I have worked a lot of online fraud and theft cases. We find the fraudsters and give those who had their money stolen, all the information on the person that committed the fraud. But, using a credit card is the only way to go. The fraud protection. Built in is well worth it. Excellent video.
I use my credit card for monthly purchases to get the points. Zero balance the card every month. After about 6 months of use, I usually end up with enough points for a $500 gift card to Lowe's. Which I use for improvements around the home that I recently purchased. So now I get new appliances, small fixes and renovation matieral twice a year for free!
I use my credit card for bills. I put my bills on autopay, which makes sure they're always paid on time, and simply pay off my card at the end of the month. I get 1.5% cash back for things I already have to pay for anyway. Same with all the rest of my purchases.
You changed my view completely. What stuck the most was" It's not the credit card that is bad, it's your bad financial habit with accumulating credit more than you can pay". I was using Debit so far. Will apply for the credit card coming week.
Good tip that I use is I have 2 open credit cards with $1500 credit limit each. I pay my auto insurance bill $145/month on 1 card. And my cell phone bill $110/month on the other card. Linked my bank account and turned on auto pay on both credit cards. Wash, rinse, repeat. Both cards have activity each month. And with auto pay I dont have to worry about paying on time or missing any payments. My credit score skyrocketed! 👍
@@AB-py6jl There's no such thing as a lower interest rates... it's Financial quicksand... you will spend your life sinking a little bit slower then the next guy!
1st Rule of Finance - Don’t spend money that you don’t have. 2nd Rule of Finance - Don’t buy things that you don’t need. 3rd Rule of Finance - Don’t forget Rules 1 and 2.
@@MinorityMindset Jaspreet is singing my song. I use my credit card for EVERYTHING!!! Even for a $1. I don't carry around cash, absolutely hate using cash
Thank you! I love Dave Ramsey, but I put most of my experiences on my credit card and get cash back. One of my goals in life is to NEVER pay the bank. I've been getting free money for years!
Yeah thats me i dated to many girls that spend like there in congress.Luckily thats as far as it went i never married any of them.I'm choosing to stay single until i find a lady on the same page financially as me.Being financially free (debt free) is a great feeling.
I use credit cards for 100% of my purchases, except rent and car payments. I've yet to miss a credit card payment, because it's money that I'm spending anyways.
Credit cards are all about self control and what you can afford. Never overspend and pay your balance every month and it's actually nice to have one. If you can't do that, avoid them like the plague as it will do more harm than good.
Yes and that's the problem. People who can do that are better off using their self-control in other areas of their lives than ensuring that they don't overspend because of plastic. This is a bit like paying off your debts starting with the highest rate and working on them until you get to the lowest rate and pay it off. On paper it seems smart. In practice, people rarely have the self-discipline needed to finish it. This is the same thing, it's unnecessary use of self-discipline that could be used for other purposes that have more than a 1-2% payoff.
I was just explaining to my mom why she should leave her debit card at home and use her credit card instead for purchase protection purposes and then I pulled up RUclips on my phone and this video popped up. I’m going to share this with her now. Thanks Jaspreet! Love your content. Keep up the good work!
I can relate. I have paid off my mortgage (in 2000), a boat loan, a jetski loan numerous car loans and home equity loans over the years, always well ahead of time. You know what I got for doing what I thought was the right thing ? When I recently applied for a car loan, I was told that I have NO credit rating and had to get my wife to cosign. We don't have a credit card, because we learned years ago how dangerous and expensive that could be. Now, I'm told I should get a credit card and use it regularly to re-establish a credit rating. This system is bullshit, but I'll have to play the game.
@@jattposti8015 Correct... I'm not one of those customers paying extra through interest. Just pay in full every month, and you get a lil bonus that adds up.
@@tonymosley6951 you will subconsciously buy more when usinh credit cards. even if you pay in full every month, you will spend way more to get that sweet 5 bucks cash back. never think you are taking advantage of the billion dollar credit card companies that do research year round on how to make you spend more
Business credit is different than personal credit. I have millions of dollars of real estate using business credit, and it has made me a multi-millionaire.
My trick to using a credit card wisely is to pay it off every time I get paid. So every two weeks on Friday it would be paid off. that way I know if my spending habits are drifting outside my paycheck.
Ask yourself a question and be honest. Are you disciplined with when it comes to spending? If the answer is no, then stay clear of credit cards. But if the answer is yes, then applying for a cash back credit card is a great way to bring in a little extra doe every month.
"Ask yourself a question and be honest. Are you disciplined with when it comes to spending? If the answer is no, then stay clear of credit cards." I think it is better to say "then stay clear of credit". Bad financial habits do not need a card. Example: the student loans in USA.
This is what I do I use my credit card to make purchases when the bill comes I put money on my debit card to pay off the credit card. Also some credit card offer reward points for making purchases. Credit cards are good but treat them like a loaded gun.
Man i do not know you but i do exactly the same thing that you do. That makes us somewhat connected financially. Keep up the smart work and make the most out of your resources. Love from India
Me too. I have a credit card just for groceries that offers 2% cash back, 1 for paying bills, 1 for category rewards that offer 5%, and 1 for everyday expense.
Ha, just did a video on this the other day about when my credit card got used in Brazil (I've never been to Brazil) and how easy it was to get the charges erased by my credit card company. A debit card would've been way harder and I would've been out the money until I could get it straightened out.
I had a similar issue where my cc was used 6 times in Houston at the same store. I was not responsible for any of the charges. The bad thing was that my card was cancelled and the replacement card did not arrive until after I left for a trip three days later. I had to use cash for the trip and nearly didn't get checked into my hotel as the card was no longer valid. Luckily the hotel finally let me pay cash. Either was it was a lot of extra stress to deal with.
Yep, all about self control. I own two MasterCards and I pay the balance off every month. I love seeing the points and cash back build up. I am lucky that both my husband and I have the same self control so there is never an argument over money.
This video tells me that you are an extremely discipline person. I know I'm not. Most people are not. If you aren't, cut them up, pay them off and stay away from debt. Dave Ramsey all the way for people still learning financial control.
Basically if your IQ is high and you make a good income, having a credit card can be beneficial. But if you’re low intelligence or poor, or both, then you should not get a credit card except for only the purpose of building credit to buy a house
Credit cards aren't destroying anyone's life. People do that themselves with unsustainable finance management. Cars don't kill people. People who drive them unwisely do. Please distinguish the tool from the fool.
When I was paying down debt I was broke AF . i always told myself if you really needed the cash you have the card. Never needed it. I tried my best to buckle down and pay huge chunks off even though my acct was looking sad. Im now debt free and it feels amazing!
Coming from someone in the UK, 2% cashback is really great! 1% is generally the best you can get here (ignoring introductory offers). Totally with you on it's not worth playing the game with reward points, air miles etc. It just encourages you to earn rewards for things you probably don't need anyway to buy anyway, cold hard cash is always best.
@@daw7773 I see it does, however that's a card issued in the US. There are to the best of my knowledge no cards issued in the UK currently offering 2% cashback.
Hey Chris, I'm from the UK too. I just started using a credit card. I use the Platinum Capital one credit card with only a £200 limit. What do you use?
I used to be able to control myself when i was single. Like pay off the credit card balance each month. But then i got married have kids and boom 💥 i went into debt so many more expenses!!! 😪
Yes. Key is to control your spending and pay it off on time. You need credit to rent, to get loans, and more. My bank gives 4% in gas and sometimes double cash back.
I've watched a couple of your videos now. I think what you're sharing here are smart, common sense, ways to be a better steward of the income you have. Thanks for doing this. One of the big problems I see people having, in terms of not being disciplined about spending, is that their income is really insufficient to meet their needs. Or at least what they think are their needs. Starbucks, as sweet as they are, is not a need. I think the biggest contributor to this common problem is that here in the U.S. needs versus wants education is virtually nonexistent in compulsory school years(k-12). Money management should be stressed just as much as reading, writing, and arithmetic. But alas, with the possible aside of high school elective home economics, this just isn't done. The honest truth is, there are a ton of people out there who don't even realize that they are in financial trouble. "Well, Okay... so how do I know if I'm in financial trouble if so many people can't figure this out for themselves?" As it turns out there is an easy way to do this. But it will take a tiny bit of effort on your part. Starting at the first of the month, just record every penny you spend. You can do this in a simple paper notebook, on your tablet, or smartphone. You really don't need to itemize every item, but do record the total spent at each shop, or bill you pay during the month. Next add up all of your income. It doesn't matter the source just make sure to record it. If after the month is over and your total spending is less than your total income then good. You are at least not hemorrhaging money every month. If however your spending more than your making... well I'm sorry to break it to you but your already in financial trouble. So what to do? First off like the man said. "I grew up in an indian household. I know cheap!" Great line by the way. If your in financial trouble already then the first priority is to honestly assess what your needs versus what your wants are in terms of what your spending. For instance, your address. It can feel wonderful to lease a home in a nice safe neighborhood with great schools and wonderful neighbors you love. But if you can't also pay your bills without incurring more debt then perhaps it's time to consider what your can do to lower this expense. Cable television, the latest IPhone, 1 Gigabit internet, are examples of wants. We don't need these things. Needs are stuff like nourishing food, a basic wardrobe for a week, clean water to drink. Basically a need is anything that allows you to stay alive(food/water), stay healthy(medical care/sleep/etc), and have a little bit of fun. Stuff beyond this are strictly speaking luxuries. If you find yourself saying "Oh, I couldn't life without that!" Feel free to say it. But understand that when you do, are you being literal, such as clean water, or is it just hyperbole? Anyways Minority Mindset, thanks again for doing this channel. We need more of this kind of content distributed world wide. And sorry for the wall of text. Sometimes I get going and just don't know when to stop. A lot like those credit card binges! Ciao for now brother.
I was encouraged to use my credit card a few days ago because my friend had a higher credit score than me. Now I can benefit from the extra security and cash back too, thanks!
I follow a lot of Dave Ramsey's principles except the whole NO on CC. I believe that if you're truly disciplined, you can definitely utilize its perks. I'm one of those weird exception that when I use cash, it all goes so fast and I can't track my spending. But when I use CC, I'm always hesitant to spend because I don't like seeing my balance go up. It's easier for me to track my expenses and I get cash back on everything I spend. Mind you I'm very frugal, everything I spend on CC is already something I'm already needing to spend on: most bills, groceries, gas, etc. and at the end of the month, it's all paid because I already have the cash saved up. I barely shop unless it's something I truly need.
Been avoiding credit cards for over a decade now but you've convinced me to get one. I have been rapidly increasing my credit score by paying off my student loans on time (including during the recent student loan interest free period). I save like a fiend and have saved quite a lot. Of course I should be using a credit card, I pay my debts off on time automatically and I spend very very little!
I’ve have self control financially for over 40 years and with that being said I always use my cc for everything and then I pay it off before the balance is due so I get the cash back to. I also would only recommend this if you’re financially disciplined which most people are not.
Yeah I use credit cards for everything I have over 60k credit, I never pay interest that's very important. I use them only to get free flights,so far so good .
I like to use my debit card because I like to round down my remaining balance to the nearest dollar after each purchase. Then move the change to my savings.
Debit card is giving out straight access to your bank, hard to dispute, and you lose that money instantly. Credit card, you pay it later, and you get some sort of bonus depending on your card.
Not all that hard if you ask me. Not so long ago a non authorized transaction occurred on my debit card and the bank returned the funds just a few days after I reported it. Concerning CC, I do agree they provide more upside than their downgraded cousin, but you have to very disciplined with their usage.
I don't use a debit card or a credit card because I'm a rebel. I'm getting tired of businesses turning down my $100 bills, even though they have plenty of change to break it down. One store took 15 minutes, deciding if they will take it.
This is quality advice for people that buy online a lot, credit cards aren't scary, but they are an opportunity for debt. If you can't control your spending, definitely a no no. I messed myself up on my first credit card, but those days are long gone, when you have the right mindset and treat it the same as a debit card it's much safer than using a debit card.
Another tip: if you trust your spending discipline, but your SO doesn't trust themselves with a credit card, add them as an authorized user on your card, and shred the copy card made in your SO's name. It helps build up their credit (which can help in joint purchases and in some cases applying for rent), without putting you at great risk or having your SO use credit at all. (This can take a few years to see results so long - term relationships, obviously)
Spending more is why American Citizens are in so much debt. We, as a society, need more financial planning classes K-12 and even into college. Economists always say "if most Americans saved 20% of their income it would destroy the economy". We need more savings and emergency preparedness in this country. I always say "You gotta prepare for the good times and the bad times." As a country we all like to talk about making money, spending it (but) no one discusses economic depressions, recessions or food/commodity shortages in the market! Why are Americans so obsessed with getting rich quick?
Kylo Ren & Stimpy he exaggerated. But yeah, the thing is it leaves your account the moment it was used. So if you needed the money for bills, you might have to pay some late fees while you get your shit refunded. Credit on the other hand, is the banks liability, so it's in their best interest to fix it
I think back when he was in College banks were not protecting their customers. I also called Chase when I had a problem and they told me to call back if it doesn't get solved. They will dispute it and get my money back. I also had a problem with another vendor a while back and Paypal got my money back.
I had fraud on my debit card, and even though the bank returned my money, it was a pain. It was around $600. If it was on a credit card, no big deal, because I don't need my credit card to pay rent. $600 was easily half my rent, but if I didn't have a savings, I would have been SOL. I didn't get my money back until about a week later.
The best way to use a credit card wise is by having an emergency fund, and then use your credit card for expenses you will already be making like gasoline, groceries etc. The reason why I got into credit card debt was because an emergency happened and I used my credit card to pay for it. Which was more than what I can afford to pay at the end of the month, causing that balance to be carried into the next month with interest.
I hate it when people accuse customer support of sounding like robots. Don't expect to hear a different answer just because you've repeated your question multiple times!
Lots of people saying debit cards offer the same protection as credit cards- I think this is only true if you run them through the payment machine as credit cards. Also, while the bank WILL replace money stolen out of your account (eventually), I have heard many horror stories about how long this can take (many days, sometimes weeks). In that time, you are without the use of that money. With a credit card, if there has been fraud, no money has left your hands. Have any of you experienced dealing with the banks after using your debit card and having your account compromised? How long did it take to get it all settled? I would love to hear if this has changed.
After getting in $40k worth of credit card debt and getting out of it 2 years ago I can tell you I now only ever use one credit card and all my expenses go onto it for the rewards. Just like you I wish I could pay for everything on this one card.. My credit, which was average then, is now almost at the highest possible score. Now I'm trying to learn what I can do with my savings to build income. I still have all my old accounts and I can promise you none of them will come close to ever being used again, they're just there for credit at this point. I had so many credit card payments that I had no extra money to try to pay off accounts. What saved me was credit card transfers (zero fees if you pay everything off within the specified time - it was 18 or 24 months for the ones I had). Basically it consolidates multiple cards into one payment, giving you a smaller payment with less interest. The amount I was paying into multiple credit cards never changed, I made sure to have every dime go into paying these transfers off as soon as possible. My problem early on was thinking I could put everything on these cards and make enough to pay them off without it becoming an issue. Problem is I was spending way more than I could afford and wasn't always keeping tabs on my balance. One of my credit cards had a max balance of $18,000, a few others around $5000-$6000, think about how bad it would suck to have multiple $100, $200, $300, $400 credit card payments and an endless stream of interested being racked up EACH MONTH. I had absolutely no extra money from any paycheck to save, just enough to cover the minimum payments. Never again.
I learned from a fraud expert to always use credit card for purchases because it's more safer verses using debt or cash. I've been doing this for years and my friends think I'm crazy for using my credit card instead of cash for purchases.
If you have to use cash in today's world. The first thing that comes to people's mind is what illegal activities are you doing that you don't want to be tracked.
I have both a credit card, AND also a business debit card & personal debit card. I use the debit cards for the majority of transactions, and the business debit for all business purchases. But when I’m buying something that COULD possibly be sketchy- I use a credit card
Some things carry a credit card surcharge. Fuel, property taxes, municipal fees. some businesses add credit card fees as well. Use both cash/debit and credit.
Thank you for presenting a video on something I hadn't thought of. I was proud of not using a credit card but I now understand the pros for doing so....if one has enough self control to do as you do. Thank you again!
*Those that don’t know better get really worried for me when I tell them I “collect credit cards”. They aren’t as worried after I travel to Europe for a few weeks several times just using CC points* 🤔
yep. i didn't know there was a name for it but i sign up for CCs that offer cash bonuses for spending a certain amount in certain period of time. once you hit the goal you never use the card again unless it has viable ongoing reward benefits. i keep a balance running with cards that give you cash back on stuff like gas, groceries, and dining out.
This video has a lot of sense. I too am avoiding to own credit card. So its not the credit card that will give us financial ruin, but the person's financial habits. Thanks for this jaspreet.
Now this is excellent advice. Simple, and direct. In any dispute with a credit card company, they have to come after you and sue to get their money. With a debit card, you have to sue to get your money back, and not just with a merchant. Someone can empty your account illegally, then you have to deal with the credit card company. Not only shouldn't you use a debit card, you SHOULD NOT HAVE ONE attached to any account with significant money in it. When your bank tries to add debit card capability to my bank card, DECLINE.
Make a note to my manager on another way to make money online investing and trading and earn huge like I do and his currently handling my portfolio earning 200% with his Strategies and gudiance you will archive alot
Listening to Dave Ramsey screwed me over. I was on the same track until i listened to him. I was getting rewards and everything. Paying off the full balance on time. 😤😡😠🤬
Yup. I keep a Costco Visa card and about $30 dollars in my wallet. I use the credit card for almost everything, and I pay it off every single month. At the end of the year, I get a cash reward of $600 to $800.
Level 1: cash Level 2: debit card Level 3: credit/charge card If you have good habits and budgeting skills from using cash, you can carry that into using debit and credit cards and get some bonuses.
Anthony Tran it’s true....I had to go through a few years (3) of cash only while and after I paid off my debt...I still go back to cash these days once in a while for groceries as it is much easier to have a finite budget and very easy to not put anything back if you made a mistake and went over budget with a credit card.
Credit cards are for smart people. Debit cards are for financially dumb people. Take your pick depending and which category you fall in. Simple as that.
I never use my debit card, always used credit cards. I never got into debt, because I learned early by having my dad monitor my purchases. If someone steals your CC, you are protected and they only get up to the limit. Debit card they have access to your bank account... yikes!!!
But, you get purchase protection via debit cards as well. Granted, it's mostly fraud related, but just a couple days ago I had some money clawed back on my behalf by my bank because a purchase I made was broken on arrival and the company couldn't get it working and refused to refund my money. The process was no harder than it would have been with a credit card.
@@erikaerika7788 There is a lady at work trying to give me financial advice. I think she follows Dave Ramsey. She like "you should never use a credit card". I was like.... you're kidding me, right? I use them all the time, collect my rewards and move on. I know I'm playing with fire, since I used to be in large amounts of debt, but I learned to control my spending and I only buy what I can afford. It took my some time to discipline myself, but it can be done.
@dachicagoan That's not why he's against credit cards. I'm not massively in debt, I'm going to be able to pay off my student loans within a year or two if I watch my money and make that my priority. He's against credit cards, even if you pay them off every month. He's against them because they promote overspending and what little rewards you get from using them is pretty much always offset by additional spending if you're not extremely careful. What's more, even if you are careful, there are just better uses of your selfcontrol than ensuring that the plastic doesn't induce you to overspend.
Гералт од Ривиа I wish people would stop promoting not carrying cash. Me not having cash has put me in some PITIFUL situations. It’s best to have cash in case of an emergency
Wow! Your story was very similar to mine. Except getting robbed from a gym, I got my debit card info stolen at a gas station. After that I used a credit card for all my purchases and still set a budget to save.
Thank you for watching! If you enjoyed this video, you should watch - Why You Need To Spend More Money: ruclips.net/video/KqLDMsmmAG4/видео.html
Minority Mindset Jaspreet, what is your opinion on using that cash back reward from the credit card company to buy stocks, like Pepsi or Coca Cola for whatever price since that money is almost “free”?
Thanks a lot is you answer! The channel is awesome man
There are a few 3rd parties that can be used to pay rent with a credit card. (RentMoola, Plastiq...)They do charge fees, however for that service. I had the same thought as u a few months back n googled it to see
Minority Mindset how much should I look for cash back
Did you ever get your money back from the debit card purchase
I wish I had this channel available when I was young still in high school... I wouldn't be in the mess I'm in now smh
Back when I was married, someone stole my wife's credit card. I didn't report it stolen because the thief was charging less than my ex wife.
😂🤣😝
😄
Old-school joke, but I still smiled.
LoL, you put a smile on my face!!!
Henny Youngman 1967.
These are the exact reasons I use a credit card almost exclusively. But, it does take discipline. Every time I go to make a purchase the words of Robert Kiyosaki ring in my ears, "Rich people buy assets, poor people buy liabilities."
Rich people make their money work for them
"And the middle class buy liabilities that they think are assets."
@@spektred actually the middle class is still the poor because they will never be rich because of their poor mentality.
@@spektred You're not wrong. The middle class is (typically) the major consumer class, that's why it's disappearance is devastating to an economy. The funny thing is that most folks will say they're middle class, when in reality they are more likely lower class. Upper lower class maybe, but lower class nonetheless.
Bro you are so right but one correction is the person's name is Robert Kiyosaki not Richard
As a Private Investigator, I have worked a lot of online fraud and theft cases. We find the fraudsters and give those who had their money stolen, all the information on the person that committed the fraud. But, using a credit card is the only way to go. The fraud protection. Built in is well worth it. Excellent video.
I use my credit card for monthly purchases to get the points. Zero balance the card every month. After about 6 months of use, I usually end up with enough points for a $500 gift card to Lowe's. Which I use for improvements around the home that I recently purchased. So now I get new appliances, small fixes and renovation matieral twice a year for free!
What card is that
@@groneass2006 It's just a BoA Rewards card.
Same here
Yes I racked up hundreds of $ in cash benefits from different cards. I like Amazon, you get 5% back for purchases on Amazon.
I had a card but the rewards were so lame.
I use my credit card for bills. I put my bills on autopay, which makes sure they're always paid on time, and simply pay off my card at the end of the month. I get 1.5% cash back for things I already have to pay for anyway. Same with all the rest of my purchases.
You changed my view completely. What stuck the most was" It's not the credit card that is bad, it's your bad financial habit with accumulating credit more than you can pay".
I was using Debit so far. Will apply for the credit card coming week.
Just make sure you pay in full every month.
Good tip that I use is I have 2 open credit cards with $1500 credit limit each. I pay my auto insurance bill $145/month on 1 card. And my cell phone bill $110/month on the other card. Linked my bank account and turned on auto pay on both credit cards. Wash, rinse, repeat. Both cards have activity each month. And with auto pay I dont have to worry about paying on time or missing any payments. My credit score skyrocketed! 👍
Yes, your absolutely using the system to benefit you, not them. Smart move my friend 👌
Your high credit score will allow you to buy something you cannot afford!
@@danstafford5977 But he will still get lower interest rates on the things he can afford.
NHDetailer - excellent advice!
@@AB-py6jl
There's no such thing as a lower interest rates... it's Financial quicksand... you will spend your life sinking a little bit slower then the next guy!
Dave Ramsey is punching the air so hard right now lmao
No one: ....
Dave Ramsey, "Better than I deserve!"
Tou beat me to it😂
No debit cards are ok, they draw on money you actually have.
no he is not,, people are free to do STUPID...
Lmfaooo
I'm old fashioned too, I carry a leather billfold filled with cash, and a gun.
🔫 MAN THAT'S A GUN YOU'D PROBABLY JUST KNOW HOW TO HOLD🍷😆 SO SURE IF YOU SAY SO .. !
How do you fit a gun inside your wallet?
A what?😂🤣😆😂🤣😆😂🤣😆😂🤣
No gun fits in there stop lying.
@@Andrew-it7fb Do you not know what a comma signifies?
@@keithwhite5823 woosh
1st Rule of Finance - Don’t spend money that you don’t have.
2nd Rule of Finance - Don’t buy things that you don’t need.
3rd Rule of Finance - Don’t forget Rules 1 and 2.
I agree with everything he says. I am disciplined so I buy everything credit card and pay it off immediately
💪💪💪
@@MinorityMindset Jaspreet is singing my song. I use my credit card for EVERYTHING!!! Even for a $1. I don't carry around cash, absolutely hate using cash
Rhonda C. dam girl you fine
Good job Rhonda , now you can take me on a date 😊
Daaaaaamn youre smart with money and fine as hell. You cant exist.
Thank you! I love Dave Ramsey, but I put most of my experiences on my credit card and get cash back. One of my goals in life is to NEVER pay the bank. I've been getting free money for years!
Most of the lessons in today's world are learned after getting scammed, LMAO. Similar thing happened to me.
Experience is always the best teacher.
Real shit
Cause no one teach us.
I can control myself but my wife can not, so make sure you get the right person to be with.
Take financial courses and pray together🙏🏻🤴👸🏼
I agree
I feel your pain, the same thing happened to me.
What is with this meme of blaming wives?
Yeah thats me i dated to many girls that spend like there in congress.Luckily thats as far as it went i never married any of them.I'm choosing to stay single until i find a lady on the same page financially as me.Being financially free (debt free) is a great feeling.
I learned to always carry cash. When the city had a blackout, if you didnt have cash you couldnt buy ANYTHING.
Cash is KING ! dont get it twisted! Smart Man! Keep Rollin With Cash!
Cash is good, cc gives the majority the illusion it's good. Once you're hooked that's it! 😆
I use credit cards for 100% of my purchases, except rent and car payments. I've yet to miss a credit card payment, because it's money that I'm spending anyways.
That's exactly right! They say you don't have control over your spending when you use credit card. That's a complete nonsense.
@@bit1733 Mostly teenagers and young adults that aren't taught how to control themselves
I grew up in an Indian household. I know "cheap" 😂😂
I grew up in a Mexican household. I know "cheap" 🙄🤣😂
I grew up in an African household.I know "cheap" 🤣🤣🤣
Chinese as well,lol
Hahaha... 🤣🤣🤣
On my way to Dollar Tree 🚗
I grew up in a single mother household. I know “cheap” 🤣👌
Credit cards are all about self control and what you can afford. Never overspend and pay your balance every month and it's actually nice to have one. If you can't do that, avoid them like the plague as it will do more harm than good.
Yes and that's the problem. People who can do that are better off using their self-control in other areas of their lives than ensuring that they don't overspend because of plastic.
This is a bit like paying off your debts starting with the highest rate and working on them until you get to the lowest rate and pay it off. On paper it seems smart. In practice, people rarely have the self-discipline needed to finish it. This is the same thing, it's unnecessary use of self-discipline that could be used for other purposes that have more than a 1-2% payoff.
i use my credit card all the time. but i only spend if i have the money to spend in my account.
If it were that simple credit card corporations would be out of business lmao
I was just explaining to my mom why she should leave her debit card at home and use her credit card instead for purchase protection purposes and then I pulled up RUclips on my phone and this video popped up. I’m going to share this with her now. Thanks Jaspreet! Love your content. Keep up the good work!
I can relate. I have paid off my mortgage (in 2000), a boat loan, a jetski loan numerous car loans and home equity loans over the years, always well ahead of time. You know what I got for doing what I thought was the right thing ? When I recently applied for a car loan, I was told that I have NO credit rating and had to get my wife to cosign. We don't have a credit card, because we learned years ago how dangerous and expensive that could be. Now, I'm told I should get a credit card and use it regularly to re-establish a credit rating. This system is bullshit, but I'll have to play the game.
Weird. Mortgage and car loan payments affect your credit score. Car payments alone can factor for 35% of your FICO score.
Credit cards are gold for the financially savvy 🤑
Yep, one can get constant payback than a regular savings account.
@@tonymosley6951 Through credit card rewards such as cash back?
@@jattposti8015 Correct... I'm not one of those customers paying extra through interest. Just pay in full every month, and you get a lil bonus that adds up.
@@tonymosley6951 you will subconsciously buy more when usinh credit cards. even if you pay in full every month, you will spend way more to get that sweet 5 bucks cash back. never think you are taking advantage of the billion dollar credit card companies that do research year round on how to make you spend more
I agree with that but there are far fewer ppl that are financial savvy ppl if you look at consumer debt as whole.
Don’t mix personal and business spending. What’s good for your business finance may not be good for personal finance.
cash back is always good, same for purchase protection.
i read it as fiance and was like this makes no damn sense.
Tha Doc yeah that’s why you have a separate card for business expenses which often reward better perks
If you apply as a sole proprietorship then it should be ok to use a business card even for personal expenses, so long as you pay it off.
Business credit is different than personal credit. I have millions of dollars of real estate using business credit, and it has made me a multi-millionaire.
It comes down to having discipline and being financially responsible. Credit cards are great tools when used appropriately.
I love listening to you Jaspreet, it's like you have a Sikh sense.
This one comment is a smart comment
😄
🤣
Good job sir
Good 👍 one
My trick to using a credit card wisely is to pay it off every time I get paid. So every two weeks on Friday it would be paid off. that way I know if my spending habits are drifting outside my paycheck.
Ask yourself a question and be honest. Are you disciplined with when it comes to spending? If the answer is no, then stay clear of credit cards. But if the answer is yes, then applying for a cash back credit card is a great way to bring in a little extra doe every month.
Oridginale24 well said!
is it like this in the UK?
InSTaDev Yeah I wana know this too
"Ask yourself a question and be honest. Are you disciplined with when it comes to spending? If the answer is no, then stay clear of credit cards."
I think it is better to say "then stay clear of credit". Bad financial habits do not need a card. Example: the student loans in USA.
YOU NEED SPEND 100,000 TO GET 1000 BACK..
POINTS IS BULL SHIT !
This is what I do I use my credit card to make purchases when the bill comes I put money on my debit card to pay off the credit card. Also some credit card offer reward points for making purchases. Credit cards are good but treat them like a loaded gun.
Man i do not know you but i do exactly the same thing that you do. That makes us somewhat connected financially. Keep up the smart work and make the most out of your resources. Love from India
Same thing. I use it to negate immediate expenses and allow myself time to make the money to pay it off in full before it is due.
Me too. I have a credit card just for groceries that offers 2% cash back, 1 for paying bills, 1 for category rewards that offer 5%, and 1 for everyday expense.
Ha, just did a video on this the other day about when my credit card got used in Brazil (I've never been to Brazil) and how easy it was to get the charges erased by my credit card company. A debit card would've been way harder and I would've been out the money until I could get it straightened out.
I had a similar issue where my cc was used 6 times in Houston at the same store. I was not responsible for any of the charges. The bad thing was that my card was cancelled and the replacement card did not arrive until after I left for a trip three days later. I had to use cash for the trip and nearly didn't get checked into my hotel as the card was no longer valid. Luckily the hotel finally let me pay cash. Either was it was a lot of extra stress to deal with.
I just recently applied for a secured credit card. This will be my first credit card. I was approved and my card should be coming next week.
Yep, all about self control. I own two MasterCards and I pay the balance off every month. I love seeing the points and cash back build up. I am lucky that both my husband and I have the same self control so there is never an argument over money.
👏👏👏
This video tells me that you are an extremely discipline person. I know I'm not. Most people are not. If you aren't, cut them up, pay them off and stay away from debt. Dave Ramsey all the way for people still learning financial control.
Basically if your IQ is high and you make a good income, having a credit card can be beneficial. But if you’re low intelligence or poor, or both, then you should not get a credit card except for only the purpose of building credit to buy a house
Credit cards aren't destroying anyone's life. People do that themselves with unsustainable finance management.
Cars don't kill people. People who drive them unwisely do. Please distinguish the tool from the fool.
"Please distinguish the tool from the fool." I'm using this.
Amen. Use the bank statement to see where your funds are going.
Things I use credit cards for:
1. Inventory for business (rewards)
2. Online purchases (protection)
Everything else, cash.
When I was paying down debt I was broke AF . i always told myself if you really needed the cash you have the card. Never needed it. I tried my best to buckle down and pay huge chunks off even though my acct was looking sad. Im now debt free and it feels amazing!
Coming from someone in the UK, 2% cashback is really great! 1% is generally the best you can get here (ignoring introductory offers). Totally with you on it's not worth playing the game with reward points, air miles etc. It just encourages you to earn rewards for things you probably don't need anyway to buy anyway, cold hard cash is always best.
Citi bank double cash credit card is 2% for all purchases.
@@daw7773 I see it does, however that's a card issued in the US. There are to the best of my knowledge no cards issued in the UK currently offering 2% cashback.
Hey Chris, I'm from the UK too. I just started using a credit card. I use the Platinum Capital one credit card with only a £200 limit. What do you use?
I used my cash back card exclusively for all things. With the cash back I build throughout the month, I pay my other credit card off.
I used to be able to control myself when i was single. Like pay off the credit card balance each month. But then i got married have kids and boom 💥 i went into debt so many more expenses!!! 😪
so if you do not use a credit card now why do you stay out of debt.
Yes. Key is to control your spending and pay it off on time. You need credit to rent, to get loans, and more. My bank gives 4% in gas and sometimes double cash back.
I've watched a couple of your videos now. I think what you're sharing here are smart, common sense, ways to be a better steward of the income you have. Thanks for doing this.
One of the big problems I see people having, in terms of not being disciplined about spending, is that their income is really insufficient to meet their needs. Or at least what they think are their needs. Starbucks, as sweet as they are, is not a need. I think the biggest contributor to this common problem is that here in the U.S. needs versus wants education is virtually nonexistent in compulsory school years(k-12). Money management should be stressed just as much as reading, writing, and arithmetic. But alas, with the possible aside of high school elective home economics, this just isn't done.
The honest truth is, there are a ton of people out there who don't even realize that they are in financial trouble. "Well, Okay... so how do I know if I'm in financial trouble if so many people can't figure this out for themselves?" As it turns out there is an easy way to do this. But it will take a tiny bit of effort on your part. Starting at the first of the month, just record every penny you spend. You can do this in a simple paper notebook, on your tablet, or smartphone. You really don't need to itemize every item, but do record the total spent at each shop, or bill you pay during the month. Next add up all of your income. It doesn't matter the source just make sure to record it. If after the month is over and your total spending is less than your total income then good. You are at least not hemorrhaging money every month.
If however your spending more than your making... well I'm sorry to break it to you but your already in financial trouble. So what to do? First off like the man said. "I grew up in an indian household. I know cheap!" Great line by the way. If your in financial trouble already then the first priority is to honestly assess what your needs versus what your wants are in terms of what your spending. For instance, your address. It can feel wonderful to lease a home in a nice safe neighborhood with great schools and wonderful neighbors you love. But if you can't also pay your bills without incurring more debt then perhaps it's time to consider what your can do to lower this expense. Cable television, the latest IPhone, 1 Gigabit internet, are examples of wants. We don't need these things. Needs are stuff like nourishing food, a basic wardrobe for a week, clean water to drink. Basically a need is anything that allows you to stay alive(food/water), stay healthy(medical care/sleep/etc), and have a little bit of fun. Stuff beyond this are strictly speaking luxuries. If you find yourself saying "Oh, I couldn't life without that!" Feel free to say it. But understand that when you do, are you being literal, such as clean water, or is it just hyperbole?
Anyways Minority Mindset, thanks again for doing this channel. We need more of this kind of content distributed world wide. And sorry for the wall of text. Sometimes I get going and just don't know when to stop. A lot like those credit card binges! Ciao for now brother.
For me I cant control myself so I stay away from them.
Good. Being self aware is the most important part of being financially smart!
Elid Venega only real person in the comments 😭 everyone else is “100% disciplined”
@@clintbeastwood1947 thanks
I agree it's like admitting your a alcoholic stay away ...
Same
I was encouraged to use my credit card a few days ago because my friend had a higher credit score than me. Now I can benefit from the extra security and cash back too, thanks!
I follow a lot of Dave Ramsey's principles except the whole NO on CC. I believe that if you're truly disciplined, you can definitely utilize its perks.
I'm one of those weird exception that when I use cash, it all goes so fast and I can't track my spending. But when I use CC, I'm always hesitant to spend because I don't like seeing my balance go up. It's easier for me to track my expenses and I get cash back on everything I spend. Mind you I'm very frugal, everything I spend on CC is already something I'm already needing to spend on: most bills, groceries, gas, etc. and at the end of the month, it's all paid because I already have the cash saved up. I barely shop unless it's something I truly need.
I am the same way.
Been avoiding credit cards for over a decade now but you've convinced me to get one. I have been rapidly increasing my credit score by paying off my student loans on time (including during the recent student loan interest free period). I save like a fiend and have saved quite a lot. Of course I should be using a credit card, I pay my debts off on time automatically and I spend very very little!
Been using CC's for years. Pay them off every month. The rewards are just one of the perks. Declining car rental insurance is another.
Wdym about car rental insurance?
Debit= money removed from a consumer bank account
Credit= money added to a consumer bank account account
This is one of the dumbest things I've read.
I’ve have self control financially for over 40 years and with that being said I always use my cc for everything and then I pay it off before the balance is due so I get the cash back to. I also would only recommend this if you’re financially disciplined which most people are not.
Good point
Yeah I use credit cards for everything I have over 60k credit, I never pay interest that's very important.
I use them only to get free flights,so far so good .
I'm 21 and started using credit. I currently have a 5,000 credit line every month. I never use more than 30%
Your videos are a great help for someone like me. Thank you
Cash is a good backup If your credit card is turned off or canceled you need a plan if you need food or gas
I like to use my debit card because I like to round down my remaining balance to the nearest dollar after each purchase. Then move the change to my savings.
Debit card is giving out straight access to your bank, hard to dispute, and you lose that money instantly.
Credit card, you pay it later, and you get some sort of bonus depending on your card.
Not all that hard if you ask me. Not so long ago a non authorized transaction occurred on my debit card and the bank returned the funds just a few days after I reported it. Concerning CC, I do agree they provide more upside than their downgraded cousin, but you have to very disciplined with their usage.
I don't use a debit card or a credit card because I'm a rebel. I'm getting tired of businesses turning down my $100 bills, even though they have plenty of change to break it down. One store took 15 minutes, deciding if they will take it.
I get it , but all signs are pointing to a future cashless society. I guess you can hang on until then 😁
This is quality advice for people that buy online a lot, credit cards aren't scary, but they are an opportunity for debt.
If you can't control your spending, definitely a no no. I messed myself up on my first credit card, but those days are long gone, when you have the right mindset and treat it the same as a debit card it's much safer than using a debit card.
This video alone got me to pay off my remaining credit balance and canceled my card. Thx so much. Im gonna learn to budget better
The Power went out in my city today.
The stores were not accepting cards only cash.
🤔
Keep cash just in case.
*Edited for grammar
Agreed
The world needs more people like this guy
Here’s my motto, I use credit cards like debit cards. I use it and pay it right away
Me too. There’s no penalty for transferring money from the checking to the credit card. I could do it every day if I wanted to.
Another tip: if you trust your spending discipline, but your SO doesn't trust themselves with a credit card, add them as an authorized user on your card, and shred the copy card made in your SO's name. It helps build up their credit (which can help in joint purchases and in some cases applying for rent), without putting you at great risk or having your SO use credit at all.
(This can take a few years to see results so long - term relationships, obviously)
Spending more is why American Citizens are in so much debt. We, as a society, need more financial planning classes K-12 and even into college.
Economists always say "if most Americans saved 20% of their income it would destroy the economy". We need more savings and emergency preparedness in this country.
I always say "You gotta prepare for the good times and the bad times." As a country we all like to talk about making money, spending it (but) no one discusses economic depressions, recessions or food/commodity shortages in the market!
Why are Americans so obsessed with getting rich quick?
Chase refunded my money when I bought something with my debit card & I never received the item.
Kylo Ren & Stimpy he exaggerated. But yeah, the thing is it leaves your account the moment it was used. So if you needed the money for bills, you might have to pay some late fees while you get your shit refunded. Credit on the other hand, is the banks liability, so it's in their best interest to fix it
I think back when he was in College banks were not protecting their customers. I also called Chase when I had a problem and they told me to call back if it doesn't get solved. They will dispute it and get my money back. I also had a problem with another vendor a while back and Paypal got my money back.
Kylo Ren & Stimpy agreed. My CU refunded my money within a couple days when my debit card number was stolen. Not a big deal.
It's gotten a lot better in recent years, but yeah, it definitely used to be: "Debit card? You're SOL - have a nice day!"
I had fraud on my debit card, and even though the bank returned my money, it was a pain. It was around $600. If it was on a credit card, no big deal, because I don't need my credit card to pay rent. $600 was easily half my rent, but if I didn't have a savings, I would have been SOL. I didn't get my money back until about a week later.
I do the same! I use my credit card and pay the bill before the month ends.
how can you do that , I can only pay subscriptions automatically
First video I've seen. Very wonderful explanation. Immediately subscribing.
The best way to use a credit card wise is by having an emergency fund, and then use your credit card for expenses you will already be making like gasoline, groceries etc. The reason why I got into credit card debt was because an emergency happened and I used my credit card to pay for it. Which was more than what I can afford to pay at the end of the month, causing that balance to be carried into the next month with interest.
I hate it when people accuse customer support of sounding like robots. Don't expect to hear a different answer just because you've repeated your question multiple times!
Cash back credit cards are the best financial tool for spending. Of course, you need to know that you can pay it back
Lots of people saying debit cards offer the same protection as credit cards- I think this is only true if you run them through the payment machine as credit cards. Also, while the bank WILL replace money stolen out of your account (eventually), I have heard many horror stories about how long this can take (many days, sometimes weeks). In that time, you are without the use of that money. With a credit card, if there has been fraud, no money has left your hands. Have any of you experienced dealing with the banks after using your debit card and having your account compromised? How long did it take to get it all settled? I would love to hear if this has changed.
0:57 I believe that there is no better way to learn.
3:11 Don't you mean *debit* card?
I was wondering same
And YOU KNOW that he made a mistake ..... I hope you are that observant in your own life ... geez.
Love the way you explain everything very understandable it’s great (now a subscriber ) Thanks 🙏
After getting in $40k worth of credit card debt and getting out of it 2 years ago I can tell you I now only ever use one credit card and all my expenses go onto it for the rewards. Just like you I wish I could pay for everything on this one card.. My credit, which was average then, is now almost at the highest possible score. Now I'm trying to learn what I can do with my savings to build income.
I still have all my old accounts and I can promise you none of them will come close to ever being used again, they're just there for credit at this point. I had so many credit card payments that I had no extra money to try to pay off accounts. What saved me was credit card transfers (zero fees if you pay everything off within the specified time - it was 18 or 24 months for the ones I had). Basically it consolidates multiple cards into one payment, giving you a smaller payment with less interest. The amount I was paying into multiple credit cards never changed, I made sure to have every dime go into paying these transfers off as soon as possible.
My problem early on was thinking I could put everything on these cards and make enough to pay them off without it becoming an issue. Problem is I was spending way more than I could afford and wasn't always keeping tabs on my balance. One of my credit cards had a max balance of $18,000, a few others around $5000-$6000, think about how bad it would suck to have multiple $100, $200, $300, $400 credit card payments and an endless stream of interested being racked up EACH MONTH. I had absolutely no extra money from any paycheck to save, just enough to cover the minimum payments. Never again.
I always carry cash, and only take cash when doing transactions with other private citizens.
It’s all about knowing what works best for you! It’s not a one size fits all...
100%
I learned from a fraud expert to always use credit card for purchases because it's more safer verses using debt or cash. I've been doing this for years and my friends think I'm crazy for using my credit card instead of cash for purchases.
If you have to use cash in today's world. The first thing that comes to people's mind is what illegal activities are you doing that you don't want to be tracked.
I have both a credit card, AND also a business debit card & personal debit card. I use the debit cards for the majority of transactions, and the business debit for all business purchases. But when I’m buying something that COULD possibly be sketchy- I use a credit card
Some things carry a credit card surcharge. Fuel, property taxes, municipal fees. some businesses add credit card fees as well. Use both cash/debit and credit.
Thank you for presenting a video on something I hadn't thought of. I was proud of not using a credit card but I now understand the pros for doing so....if one has enough self control to do as you do. Thank you again!
He's wrong about the protection, for eg. if it's VISA-doesn't matter its credit or debit card,protection is the same.
*Those that don’t know better get really worried for me when I tell them I “collect credit cards”. They aren’t as worried after I travel to Europe for a few weeks several times just using CC points* 🤔
Teach me your ways
Kuinshi Mushin it’s called churning! I should have a pretty comprehensive video on exactly which cards I used to do it myself!
yep. i didn't know there was a name for it but i sign up for CCs that offer cash bonuses for spending a certain amount in certain period of time. once you hit the goal you never use the card again unless it has viable ongoing reward benefits. i keep a balance running with cards that give you cash back on stuff like gas, groceries, and dining out.
This has become one of my favorite channels!
This video has a lot of sense. I too am avoiding to own credit card. So its not the credit card that will give us financial ruin, but the person's financial habits.
Thanks for this jaspreet.
Now this is excellent advice. Simple, and direct. In any dispute with a credit card company, they have to come after you and sue to get their money. With a debit card, you have to sue to get your money back, and not just with a merchant. Someone can empty your account illegally, then you have to deal with the credit card company. Not only shouldn't you use a debit card, you SHOULD NOT HAVE ONE attached to any account with significant money in it. When your bank tries to add debit card capability to my bank card, DECLINE.
I have always use a Credit cards 💳 the same way , and I’ve never paid interest in my life.
Make a note to my manager on another way to make money online investing and trading and earn huge like I do and his currently handling my portfolio earning 200% with his Strategies and gudiance you will archive alot
Listening to Dave Ramsey screwed me over. I was on the same track until i listened to him. I was getting rewards and everything. Paying off the full balance on time. 😤😡😠🤬
When there is no cash and only a card: you have no alternative. They can take your money/lock your account at any time and you are stuffed....
i agree. Use cash whenever possible!! Cashless society is a horrible idea!!
Correct, that’s the reason why I use cash for most of my transaction.
If someone steals my card, I can cancel it and I'm not liable for any charges. If they steal my cash, there's nothing I can do.
Carry a few monster boxes of Silver Eagles in your car. People gladly accept them.
Probably I like how you guide the viewers straight to the point not like other channels brother keep it up
Yup. I keep a Costco Visa card and about $30 dollars in my wallet. I use the credit card for almost everything, and I pay it off every single month. At the end of the year, I get a cash reward of $600 to $800.
Level 1: cash
Level 2: debit card
Level 3: credit/charge card
If you have good habits and budgeting skills from using cash, you can carry that into using debit and credit cards and get some bonuses.
Anthony Tran it’s true....I had to go through a few years (3) of cash only while and after I paid off my debt...I still go back to cash these days once in a while for groceries as it is much easier to have a finite budget and very easy to not put anything back if you made a mistake and went over budget with a credit card.
Love from India, dude listening to you is like getting an advise from elder brother 😂
Credit cards are for smart people. Debit cards are for financially dumb people. Take your pick depending and which category you fall in. Simple as that.
I see both sides. But I just got out of cc debt last year. I didn’t know what I was doing. Now I know. I like not having credit cards. One less worry.
I never use my debit card, always used credit cards. I never got into debt, because I learned early by having my dad monitor my purchases. If someone steals your CC, you are protected and they only get up to the limit. Debit card they have access to your bank account... yikes!!!
Absolutely true bro... If we know our limits and aware about our spending habits..boom....rewards are waiting for credit card users....
I only use Credit Cards and they have significantly increased my credit score
(New Updated,787)
John Encarnacion and that’s because you pay the Cc statement in full each month ?
Is that Experian's?
John Encarnacion I am at 771,
I'm 795
777 here
Purchase protection: 15 seconds.
Cash back: 15 seconds.
Everything else: 7 minutes and 45 seconds
But, you get purchase protection via debit cards as well. Granted, it's mostly fraud related, but just a couple days ago I had some money clawed back on my behalf by my bank because a purchase I made was broken on arrival and the company couldn't get it working and refused to refund my money. The process was no harder than it would have been with a credit card.
I had my debit card hacked twice and both the occasions my bank worked with me and I got my money back. This was almost 10 years back.
Many perks to using a credit card, as long as you have the money to pay it back every month. Points, cash back, airline priority, purchase protection
Moral of the story: get gym shorts with pockets.
Dave Ramsey would give you a spanking for speaking such things hahah
Saucey lol
...or for $100. Cash,no checks. 🤣
Haha but Ramsey it's right ..most of his listeners are fuck up with their financials and can't handle credit ,,
@@erikaerika7788 There is a lady at work trying to give me financial advice. I think she follows Dave Ramsey. She like "you should never use a credit card". I was like.... you're kidding me, right? I use them all the time, collect my rewards and move on. I know I'm playing with fire, since I used to be in large amounts of debt, but I learned to control my spending and I only buy what I can afford. It took my some time to discipline myself, but it can be done.
@dachicagoan That's not why he's against credit cards. I'm not massively in debt, I'm going to be able to pay off my student loans within a year or two if I watch my money and make that my priority.
He's against credit cards, even if you pay them off every month. He's against them because they promote overspending and what little rewards you get from using them is pretty much always offset by additional spending if you're not extremely careful. What's more, even if you are careful, there are just better uses of your selfcontrol than ensuring that the plastic doesn't induce you to overspend.
I have a debit card, but only use it for ATM windrawals and online shopping. Always carry cash with me.
Same
Гералт од Ривиа I wish people would stop promoting not carrying cash. Me not having cash has put me in some PITIFUL situations. It’s best to have cash in case of an emergency
Wow! Your story was very similar to mine. Except getting robbed from a gym, I got my debit card info stolen at a gas station. After that I used a credit card for all my purchases and still set a budget to save.
Thank you for sharing this video to us.
Greetings from Ecuador :)