Peterpan12 said:
I'm not judging you at all. I'm very happy to hear that you're very successful but paying cash for everything is not as smart a move as you might think. It just means you don't know how to make your credit work for you.
Credit Cards provide you with a lot of security (not carrying large amounts of cash when traveling or shopping, zero liability for unauthorized charges) and benefits (like extended warranties, travel insurance, theft insurance, targeted discounts at retailers etc.) and can reward you 1-2% in various forms of loyalty programs. And in any case, how do you shop online or book hotels etc. without a CC these days?
On the same note, getting a low interest loan for a car, or a house mortgage is smart when you know how to invest the money you saved from putting in to those purchases in something with higher yield. This is so called "Smart Debt" which ends up easily giving you a positive return if you know how to make your money work.
Cash hasn't been king for some time now.
I really don't believe in credit. I have plans to earn a lot more then I am right now. And doing other projects that return 250% a year. Just need bigger wallet for that one and I am not to far behind on it.
If you don't have the money then why put your self in debt for a car worth $400 a month? Plus insurance. Buy a car for $2,000 and drive it till it can't take it no more. Better then paying monthly and % rate on it. Plus the other things that go along with it. I have never owned a credit card, I never was in debt, I spent my money very smart, I am into business, & money making. I've helped people who own businesses earn more, by showing them how and what not. Each business is a bit different. I stopped doing this for people cause no one is offering me any money for it.
I don't need a credit card for security reasons. I have a VISA bank card!
That is the same thing, credit or debit?
I have debit. Same thing with phone bills. Why pay so much and get ripped off by phone companies? I use prepaid for the last 10 years and I never go over, or anything like that. And not once did I get screwed over. Back in the day when I had a cell phone, the company charged me for roaming when I was inside the city limits and took 3 months to work it out with them. And get credited for it. When it was their mistake! Insurance? Pay everything up front 6 months you get a discount = savings!
My bank offers me a very nice VISA card when I go travel they only charge me 1% of the exchange rate when I buy anything. So if the EUR to USD is lets say 1.33 they charge me 1.32. I don't get travel insurance, it's a scam and rip off. The 1 to 2% loyal program my wife talked about last night. We both talked about it and i told her to get rid of it then she said she gets 1% cash back, so I figured since I buy and resell a lot of things. Why not use it to buy thing on the business project.
I have a debit card I don't need a credit card. I have 3 of them from 3 different countries around the world.
I don't really care for taking loans out for buying a home. My family side from my dad always got houses in cash, my moms side always also had paid for homes in cash. I won't start credit and down the road a house costing you $300,000 might be a bit more with everything. And if you pay it all by the end they charge you fees. I just don't care to deal with it. CASH IS KING!
When trucking companies buy with a debit card/CASH card they get a cheaper price at the station pumps!
And they do this with $100,000 daily. Saves them 1 cent per gallon and they do about 250 gallons per day so do the math saving $2.50 a few time a week after 1 year is a lot. And if you got a bunch of trucks it all adds up. Might not be much but still something.
Get a nice car, register it as a sunday car with 100 miles per week or per month. And then get another car worth $200 or $100 it will bring insurance a bit lower. No idea how Canada does it but yeah.
I make my own money. I've tested some things out and I can expand easily. Just once this application is sent in. I'll start working on it. I am not in need of money that badly that I have to rush.
And a last note, you can't do the same types of businesses around the world for the most part. Some things work better in different parts of the world. etc.
Got a friend in the US he took up on my advice as I emailed the person on this form. His making $2200 a week. Once he upgrades he'll be at over $3,000+ per week easily. All my friends and family always ask me for advice. To them it's free, business owners, they better put up some money for it.
