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  • poweraffiliate138 - @poweraffiliate138 35 minutes ago
  • minimalmoney_mindset.
Pretty bold statement… but is he right? I know @_markbolton_ is gonna love this one. 😂😁
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I think it's a pretty good argument. Individually there's lots of situations both good and bad. But across the population it's pretty clear… Average debt is over $10k while at the same time a majority of people can't cover a $500 expense with cash.
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I also see credit cards eating into if not all of whatever income you could use for savings. 15-20% savings requires a lot of focus. Its so easy to overspend with credit that the normally small margin you need to get ahead is easily challenged.
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From a business perspective… WalMart for example makes it billions with an average of 20-25% in margin. They squeeze suppliers, have an army of accountants, negotiate, triple check, etc to make that happen.
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Overspending on credit by 10-20-30 percent is easy. You don't have a spending budget? You don't even know what to measure against!
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Be the CEO of your life like @beingdetermined says. Use a credit card if you like but it has to fit in perfectly with your budget. Perfectly!
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How do you feel about credit cards?
. minimalmoney_mindset. Pretty bold statement… but is he right? I know @_markbolton_ is gonna love this one. 😂😁 . I think it's a pretty good argument. Individually there's lots of situations both good and bad. But across the population it's pretty clear… Average debt is over $10k while at the same time a majority of people can't cover a $500 expense with cash. . I also see credit cards eating into if not all of whatever income you could use for savings. 15-20% savings requires a lot of focus. Its so easy to overspend with credit that the normally small margin you need to get ahead is easily challenged. . From a business perspective… WalMart for example makes it billions with an average of 20-25% in margin. They squeeze suppliers, have an army of accountants, negotiate, triple check, etc to make that happen. . Overspending on credit by 10-20-30 percent is easy. You don't have a spending budget? You don't even know what to measure against! . Be the CEO of your life like @beingdetermined says. Use a credit card if you like but it has to fit in perfectly with your budget. Perfectly! . How do you feel about credit cards? .
  • minimalmoney_mindset. Pretty bold statement… but is he right? I know @_markbolton_ is gonna love this one. 😂😁 . I think it's a pretty good argument. Individually there's lots of situations both good and bad. But across the population it's pretty clear… Average debt is over $10k while at the same time a majority of people can't cover a $500 expense with cash. . I also see credit cards eating into if not all of whatever income you could use for savings. 15-20% savings requires a lot of focus. Its so easy to overspend with credit that the normally small margin you need to get ahead is easily challenged. . From a business perspective… WalMart for example makes it billions with an average of 20-25% in margin. They squeeze suppliers, have an army of accountants, negotiate, triple check, etc to make that happen. . Overspending on credit by 10-20-30 percent is easy. You don't have a spending budget? You don't even know what to measure against! . Be the CEO of your life like @beingdetermined says. Use a credit card if you like but it has to fit in perfectly with your budget. Perfectly! . How do you feel about credit cards? .
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