I’ve seen some pretty dumb ways people spend their monies…
But BY FAR the dumbest way I’ve seen people irresponsibly spend their monies (time and time again) is using their credit cards all for….
*drum roll please*
POINTS.
Almost everyone on Financial Audit is not a credit card person.
And I always get the same reply:
“bUt I wAnT tO gEt My PoInTs”
Hear that? That’s DEATH TALKING.
Honey, your points aren’t gonna balance out your dumb financial decisions. If you lose a single dollar in interest, you’re NOT A CREDIT CARD PERSON.
And that’s FINE. Most people aren’t.
The main reason why is that when you use a credit card, you take on risk (seen as debt). And most people don’t know how to manage their risk correctly.
By putting your purchases on a card, you’re at risk of:
- Paying interest (derp)
- Overspending (mega derp)
- Forgetting about it (king derp)
- Spending money you don’t have (MASSIVE DERP)
All in the name of points.
Because you’re “taking advantage of credit.”
Nooo, no, no… credit is taking advantage of you.
Credit is promising you a nice candlelit steak dinner, some gourmet ice cream for dessert, and a walk to see the stars…
While in reality, credit’s bending you over without asking your name.
As a non-credit-card person, you should be paying with debit/cash.
That way:
✅ You don’t overspend past your budget
✅ You’re not paying interest on borrowed money
✅ You’re not digging your grave towards DEATTTHH
✅ You’re not spending money you DON’T HAVE
Plus, your debit card has this cool revolutionary feature that when it doesn’t have any monies in it… it declines! 😀 This is to prevent you (and other dumba**es) from spending monies you don’t have!
Isn’t that awesome!?
Same thing goes for your wallet. When you don’t have any money, your wallet becomes super thin and the cash inside disappears!
I know I sound like your grandpa who still has a pocket full of change and cuts out coupons, but cash is great. Use cash.
In fact, I double-dog dare you to only use cash/your debit card this week.
If you don’t, you’ll have to donate a gazillion dollars to the Caleb Hammer Foundation (which directly goes to help those in need who are named “Caleb Hammer”).
If you do, then I’ll give you a digital, bite-sized cookie. 🍪
Seriously though. Try using cash-only for all your purchases this week and see how well you can do.
If you want to push the limit, try doing it for a month straight.
It’ll help you see how much you’re spending and make you THINK about what you’re buying.
Taquitos,
Caleb Hammer
P.S.
If you’re NOT drowning yourself in debt, you’re actually responsible with your monies, and you have some savings built up…
The next step for you is to start investing your money CAREFULLY (meaning not being impulsive and going for those shady coins you found on Twitter).
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app offered by Moomoo Technologies Inc. Securities are offered through Moomoo Financial Inc., Member FINRA/SIPC. The creator is a paid influencer and is not affiliated with Moomoo Financial Inc. (MFI), Moomoo Technologies Inc. (MTI) or any other affiliate of them. The experiences of the influencer may not be representative of the experiences of other moomoo users. Any comments or opinions provided by the influencer are their own and not necessarily the views of MFI, MTI or moomoo. Moomoo and its affiliates do not endorse any trading strategies that may be discussed or promoted herein and are not responsible for any services provided by the influencer. This advertisement is for informational and educational purposes only and is not investment advice or a recommendation to engage in any investment or financial strategy. Investing involves risk and the potential to lose principal. Investment and financial decisions should always be made based on your specific financial needs, objectives, goals, time horizon and risk tolerance. Any images shown are strictly for illustrative purposes. Past performance does not guarantee future results.
