Fun fact, kinda off topic. Almost nobody uses credit cards in the Netherlands. We own the money before we need to spend it. We never spend money that isn’t ours yet.
people use cash. it maked you see how much your spending and helps ssve your money. this woman has no idea what shes talking about. credit cards are a bad idea. just use cash or a debit.
Yeah, ma‘am and this mindset is one of the reasons your country is in such trouble - just saying. greez from overseas where we use cash and not credit cards like there is no tomorrow
So you can’t have a receipt if you pay with cash? Don’t get me wrong I pay for a lot of things with my credit/debit, but you’d have to be stupid to say that cash isn’t more versatile
That's how The USA became the countrywith the most personal debt in the world. When you use credit in any form, you are giving your money away to credit companies. And if you think they are rewarding you with points that worth more than what you are giving away, ... then you must be 5 year old or have the intellect of a 5 year old.
I only use credit cards to collect points and cash For example if I have $500 I need to spend like a new washer and dryer and I can get points for that using a credit card, then it would be stupid for me to pay cash for it Because I’m going to spend that money anyway No credit card debt, never paid a penny in interest and pretty much getting money back for doing nothing
Laughs in Swedish My bank: Yo we're literally removing the ability to have credit linked to your debit card mmkay. Go somewhere else if you need it. Peace ✌️
I'll agree that Debit Cards are dumb for security reasons, but avoiding cash? That is outright stupid One, it's snobbish, not everyone has huge credit limits. Two, it actually hurts the business because they have to pay a fee for using the card. Three, outages happen. It's really bad to be stuck with nothing just because either a computer went down or your card got turned off for whatever reason
Newsflash: many banks charge small businesses for cash deposits. It also takes either a contractor (Loomis etc) or an employee's time (and risk to bodily harm) to shuttle the cash to the bank. That time costs money either way. If I'm out of the office for an hour for a bank run, it costs the company roughly $50, or about the same amount as we pay on a $2500 card transaction. And if I'm in the office, I may be able to close an additional sale instead, so it has an additional opportunity cost as well.
You know who gets rewards? Dogs. Dogs get rewards. You can trace what you pay for with cash if you ask for a receipt or an invoice. But people are too hungry for those dog treats, and they run up a huge credit card bill at nearly 25% interest. Stick to cash. Cash will always be king.
I made millions off my rewards, said no millionaire ever. That is a Dave Ramsey line but I’d thought I would throw it in. I thought he was making this stuff up. After hearing this woman, I see this line of thought does exists.
I don't know what the Quran says. In the Bible lending out money or goods to poor people with interest is a sin. Because they most likely cannot pay it back and end up in slavery. Lending money with interest for an investment or to a merchant to setup a trade does not follow this rule, since nobody is losing his livelihood and the interest is to compensate for business risks. But then it is one wealthy man lending to an other wealthy man.
Fun fact, kinda off topic. Almost nobody uses credit cards in the Netherlands. We own the money before we need to spend it. We never spend money that isn’t ours yet.
That is the correct way to function. Unfortunately capitalism disagrees.
Double Dutch😊
people use cash. it maked you see how much your spending and helps ssve your money. this woman has no idea what shes talking about. credit cards are a bad idea. just use cash or a debit.
Exactly, she's a plant from the banking industry.
She wants to help implement the digital economy don’t fall for this garbage.
Your credit score is probably 500
Yeah, ma‘am and this mindset is one of the reasons your country is in such trouble - just saying. greez from overseas where we use cash and not credit cards like there is no tomorrow
wouldn’t want to miss out on a transaction fee.
Edit: you can deduct items from cash, just get a receipt. 🙄
So you can’t have a receipt if you pay with cash? Don’t get me wrong I pay for a lot of things with my credit/debit, but you’d have to be stupid to say that cash isn’t more versatile
Don’t listen to her
I became a millionaire by using credit cards and getting rewards.. said NO millionaire EVER.
That's how The USA became the countrywith the most personal debt in the world. When you use credit in any form, you are giving your money away to credit companies. And if you think they are rewarding you with points that worth more than what you are giving away, ... then you must be 5 year old or have the intellect of a 5 year old.
I only use credit cards to collect points and cash
For example if I have $500 I need to spend like a new washer and dryer and I can get points for that using a credit card, then it would be stupid for me to pay cash for it
Because I’m going to spend that money anyway
No credit card debt, never paid a penny in interest and pretty much getting money back for doing nothing
True. But my credit card debt does convince me otherwise, in my case.
I have two degrees in economics, this isn't applicable in EU.
*Laughs in dutch*
We only use creditcards in hotels or abroad. Lots of stores won’t even accept creditcards
Laughs in Swedish
My bank: Yo we're literally removing the ability to have credit linked to your debit card mmkay. Go somewhere else if you need it. Peace ✌️
@@rosen9425 LOL, GG Sweden. Didn't know that that was even a thing
I'll agree that Debit Cards are dumb for security reasons, but avoiding cash? That is outright stupid
One, it's snobbish, not everyone has huge credit limits.
Two, it actually hurts the business because they have to pay a fee for using the card.
Three, outages happen. It's really bad to be stuck with nothing just because either a computer went down or your card got turned off for whatever reason
Newsflash: many banks charge small businesses for cash deposits. It also takes either a contractor (Loomis etc) or an employee's time (and risk to bodily harm) to shuttle the cash to the bank. That time costs money either way. If I'm out of the office for an hour for a bank run, it costs the company roughly $50, or about the same amount as we pay on a $2500 card transaction. And if I'm in the office, I may be able to close an additional sale instead, so it has an additional opportunity cost as well.
Yup, I want my Every purchase to be tracked. Better for everyone to own nothing and be happy.
Cash is KING in my books *itch!
Cash can't be deducted? but..something else can? Interest from a credit card 🤨
*Dave Ramsey has entered the chat*
you beat me to it lol
No no no your wrong. Receipts will work. Digital dollar will destroy us.
You know who gets rewards? Dogs. Dogs get rewards.
You can trace what you pay for with cash if you ask for a receipt or an invoice. But people are too hungry for those dog treats, and they run up a huge credit card bill at nearly 25% interest.
Stick to cash. Cash will always be king.
lol yeah so then I get 100% credit usage and then go into debt. Good advice
Just remember- buy what u can afford to pay off within that month with CC. Otherwise will be in debt. She should have added that.
I made millions off my rewards, said no millionaire ever.
That is a Dave Ramsey line but I’d thought I would throw it in. I thought he was making this stuff up. After hearing this woman, I see this line of thought does exists.
Nice! 3 trillion US credit card debt, and who is getting interest?
This is the worst advice I have ever heard.
If you are still doing taxes-
you are doing it all wrong.
Dirty???? Ma'am, please stay in your lane....
Why don't You teach people how to do taxes Lmao!!
Credit (Riba) is haram (forbidden, & also a big sin) because it’s usery…
Not everyone follows your religion.
I don't know what the Quran says. In the Bible lending out money or goods to poor people with interest is a sin. Because they most likely cannot pay it back and end up in slavery.
Lending money with interest for an investment or to a merchant to setup a trade does not follow this rule, since nobody is losing his livelihood and the interest is to compensate for business risks. But then it is one wealthy man lending to an other wealthy man.
crap advice lol
Dave Ramsey hates you 😅
The anti-Dave Ramsey
Thank you Nina - all hood points😍.
Good❤