This whole subprime lending mess has brought to light some very real problems with our society. This whole idea of “buy now, pay later” has really caught up to us. So, even though it is possible to use credit cards to your good, it is important ONLY to buy what you already have money for. Too often we see credit cards as “extra” or “free” money. It is important to remember that yielding wealth is about getting more money–not throwing it away on interest payments to credit card companies.
This YouTube video of an SNL skit totally killed me. And it …read more

Yesterday, I implied that debit cards aren’t always the best options when it comes to paying for stuff. Why? Because simply taking money out of your account does very little to actually help in the yielding wealth department. But using credit cards wisely can actually help you maximize your money. But be forewarned: proper credit card use requires discipline.
The key: only buy what you can actually afford
Kelly made a very valid point in a comment on yesterday’s post. She pointed out that she is wary of spending money she doesn’t have. That is a valid concern. The key to proper …read more