Managing Credit Card Debt - Contractor Business Tip #152 !!!

tip number
from the book 501 contractor tips
credit cards this can be your best friend or your worst Managing Credit Card Debt - Contractor Business Tip #152 !!! nightmare and I in here to tell you right now if you have a problem managing
money
no problem saving money you have a problem figuring out where you spent the
money keeping track of everything
then you could actually have a problem with credit cards
it does not take long for some people to amount
or to amass a small amount of debt or even a large amount of data
digital print I remember a guy that was
years old that we now have had like a hundred and
seventy thousand dollars in credit card debt
and he didn't own a house lived with his parents
this just doesn't make any sense how does this happen I'll tell you how it
happens sometimes
is because you're not tracking I keep track if anything you going down there
anything camelina spent fifty dollars for dinner and you end up spending $

can you do this twenty times month
you're going to have a problem you know if you're the kind person must hear the
Big Shot wanna be the big wheel
you go when they're plot that credit card this could be a problem
however if you are somebody who doesn't understand
money management you've got some skills you understand what percentages are
you understand just how important twenty percent is it this is what you
all on your or what your credit card charges you
if you do not paying off at the end of the month
then on you will be able to manage your money a little better
in you will not be making a mistake
adding debt they're staying when you cannot afford to pay it of
so that is the that could be the worst thing you could ever happen I mean
actually I had a credit card one time
maxed out to
obviously I didn't do want somebody else did it was closely
related to me
and we are no longer together anymore if you get the meaning
and that percent
II left him in charge in pain the dad of yeah
after about five years five years
kinda pain of this was after making minimum payments in the minimum payments
over a hundred dollars a month
you can do the math on that this five thousand dollars that was charged by
somebody else
%uh who couldn't manage their money by the way
and why should a if I was going to pay it off
anyway or continue to pay all these people out
down white there's no need for them to
and in really and I and this is this is
the truth here this individual never learned how to manage their money
and i wanna say after about
years
a you know me not not taking care of this person
the a their lives I mean financially
are just in shambles so
when I'm telling you right now that credit cards
can be abused and they can ruin your life and put you in financial bondage
that would just be hard to get out in some cases extreme financial bondage
and you're not paying attention you're not kidding yet
feel free to rewind the video watch it again
watch more sections love this this is in the banking and accounting section
up this book it again so many steps just my sound like you know I can't come on
as common sense he it might be common sense to you but it's not common sense
everybody you know a tip that you might read I'm
lesson to win this poking my reader watch a video
and you're thinkin got so simple art doesn't everybody know that our best not
really not a tip
okay i gotchu but sometimes
if it's just the fact that one person at a hundred I'm
good with that and in this is what I'm trying to drive home right here
this isn't the one in a hundred this is probably more like eighty percent of all
the people I know can't manage money
and I'm not exaggerated for the numbers probably closer to
or
percent
of the people I know they just cannot manage their money
they cannot live on less money than they make
they want to go out and buy something that they don't have the money for
and then pretty soon they owe a small fortune to a credit card
I mean this is just what happens to most of us
so if you can not get a grip on this and you know you can't manage money
you have a difficult that difficult time with it if you do get a credit card it
doesn't take long pretty soon it's maxed out
then don't go get another one this might not be a good thing for you
however if you need money to start a job and into
stay in business and to get by in life
then you gotta your two thousand dollars I credit card this is going to be your
only choice
you're between a rock and a hard but you're gonna have to go get that other
credit card
but don't do the same thing don't make the same mistakes
maybe just use their credit card just for your business
and that's another tip to is don't
get a credit card for your business and try not to use it
for your household expenses use it to keep keep them separate
it seem like me I like to have a banking account for my business and a banking
account for my personal
stuff I keep it separate if you can do the same thing with a credit card
crate if you don't just make sure you track of your expenses
you no talky carried away a few have a ten thousand dollar limit on your credit
card
man at the end of the month you all five thousand dollars
%uh on it and a thousand dollars over is for your business make sure you
understand that
you know this thousand dollars for my business everything else personal if
it's the opposite
you all four thousand for your business a thousand for personal
make sure you understand that you know don't mix the two together and say hey
I spent a thousand dollars on materials for realistically when I went out to get
a hamburger the other night fill my truck up with gas
I was on my way to go get those materials on account as a business
expense
hey if you can't use it as an expense
don't mix it in with your other expenses
scan all I'm saying and again I don't want to get into much that cuz they're
a party talked about expenses and
I'll problems like that yen in previous videos
I'm gonna leave it at that remember credit card
can ruin your life there i cant just
if you don't know how to manage money they can be your worst enemy
if you do know how to manage money you understand the percentages these banks
are charging how they arrive at all these numbers that they are charging you
and then you can use these to your advantage
great if they're not working out then you better rethink this whole thing
orkut go work for somebody else don't know start your own business
City Kan manager manage money or or you're not willing to learn how to
manage your money
is he just gonna be a nightmare for from here on out *** ***