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| Debt Disaster Relief E-Book |
Spending on credit cards is much like drinking sour milk. Good at first, but as time passes, our credit card balances become more and more rancid. Two words come to mind when describing both sour milk and credit card spending: yuck and wasteful! Sure, the milk may have been real tasty when you first got home, but after weeks in the fridge, it�s not looking so good now. How can we compare this to our credit card bills? What about the pretty sweater that looked great at the store but since it has been hanging in the closet, it�s not looking so great. It may even still have the tags on it. This falls under both the yuck and the wasteful categories. Unless, of course you have returned it. If so, kudos to you. But is everything we buy on credit cards wasteful? That depends. We can be wasteful no matter which means we use to pay for things. But with credit cards we are more apt to spend what we do not have. If you are not paying your credit card balances in full each month, meaning paying off the entire balance, then we are being wasteful. But what if we are using the items we have purchased, how then is it that we are being wasteful? It is the cost of buying things on credit that leads to waste. Someone is letting you borrow money at a cost. If you borrow $20 from a friend, would your friend let you borrow more money when you haven�t paid back the original $20? What benefit is your friend receiving by lending you money? In the case of buying things with credit cards and then making payments on the balance we can replace the word friend with the credit card company. What if we could accumulate wealth instead of debt? Then the situation would be flipped and we would be, in essence, the credit card company. We wouldn�t be in the direct business of lending money out, but we would be making our money work for us instead of for someone else. And this is exactly what the credit card companies do very well. Making money and lots of it! What if that was us making all that money? Could wealth be just as easy to acquire as a mountain of debt? When you make your money work for you instead of against you, the answer is yes. This is just the principle that wealthy people practice. One of the best financial books I have ever read is The Millionaire Next Door by Thomas J. Stanley and William D. Danko. Through extensive research the real rich people in America are the neighbor next door type that you probably would never even suspect had mountains of money in the bank. How could this be? The smartest people who accumulate wealth realize that spending loads of money on luxury items is fruitless in the end. The book The Millionaire Next Door gives an insight as to what kinds of vehicles the wealthy do drive and how they live. The very first step is some serious Debt Disaster Relief. So let�s get to it! |
| Introduction |