You know, you see articles like this…
And then you see articles like this…
- Money Market Funds, Large CDs, Small CDs, and T-Bills: Americans and their Huge Piles of Interest-Earning Cash $7.4 trillion
We’re talking about two different kinds of people here…
People who spend, spend, spend, and those who save, save, save, ohh, and invest.
If you’re living off of your credit cards, you’re not living, you’re surviving, and you probably need to find a better way. Credit cards should only be used to build credit, and enjoy credit card perks, like cash back and whatnot. Not to live on.
In a perfect world, we wouldn’t have credit cards and those extra merchant fees, but we do, so take advantage of the situation, don’t place yourself in bondage to it.
On another note, it’s hard to know where the economy is headed, but we know, there are booms and busts. They can be engineered, but they’re also a part of the natural course of nature as I recently discussed.
In the meantime, stay out of debt, so you are not further burdened by any future economic downturn.