Why Living on Credit Cards is a Wrong Idea


Have you ever wondered why banks spend so much effort in selling credit cards? That’s because they earn so much from it.

Interest is going to be the death of you

Credit cards are functional, and they allow easy purchasing especially if you’re buying things online. This makes transactions so much faster and efficient while you get what you want without having to pay for it yet. Unfortunately, this is all an illusion. People just spend too much because they don’t feel they’re spending their money.

This causes a chain reaction of events that lead to you not being able to pay your bill because you spent too much. This is how banks earn. If you’re not able to pay, they can slap you in the face with interest and increase what you have to pay next month.

A lot of people have been buried under debt because of credit cards.

The solution is simple. Control your spending. DO NOT use your credit cards to pay for EVERYTHING. It’s that easy. Also, make sure that when you buy something with your credit card, you have the money in your bank account to pay for it.

Another mistake people make is buying something before they have the money because they’re expecting their incomes to arrive. What happens if you lose your job or if you have something more important to pay for?  If you don’t have the money yet, don’t buy it. It’s that simple.

Two words: self-control.

Credit cards can be used to your advantage especially if you know how to use it properly but don’t let it rule your expenses.


Money Habits That the Richest Individuals Practice Regularly


Who’s the best source for financial advice? Of course, these are the people who have made a name for themselves out of sheer willpower and hard work.

There’s a fine line between the rich and the rest of the world because they live on a standard they made themselves.

If you want to become rich yourself, have an attitude of a wealthy person and think like a rich person.

Here are six practices wealthy people do every day.

12882-311-SWSH-Launch-Infographic-Money-Secrets_r91. DON’T Live Beyond Your Means

The rich stay rich because they know how to handle their money and live under their capabilities. They spend most of their money on investments and businesses to make more profit each day, so they wealthy are probably the most controlled individuals. If you can practice self-control and live under your means, then you will be able to use your money for better things.

2. STOP Playing the Lottery

This is a simple one. Only one out of millions will win. If you buy a lottery ticket every week for the rest of your life, you would’ve spent enough money to start a business and earn millions. Every unnecessary expense is a setback, so avoid these things that could drain your money.

3. Spend more ENERGY talking to people

Meeting new people is a skill that every wealthy person has. You never know if the next person you’d meet is your next business partner. Having a positive outlook and a friendly face could bring you a long way, especially on the road to success.

4. Maintain a STRATEGIC DISTANCE from Time Wasters

Do you think the greatest businesspeople wasted time on unnecessary things? The most successful people spend every waking moment working on their businesses. If you can spend 3 hours watching videos on Facebook, then you can spend 3 hours planning your next startup. Imagine all the success you could’ve had from the times you wasted. Manage your time wisely and make every moment productive.

5. Do Your BEST Work

This is the definition of a winning attitude. Are you a winner? Do you want to be a winner?
Every wealthy person has a champion mindset, so they give their best in every single thing they do. Need I say more?

6. Get PROFESSIONAL ADVICE for Money Decisions

Most of the richest people didn’t achieve success alone. Asking professional advice from someone who has achieved what you want to do is the fastest way to get there. You’re here to learn and apply what you’ve gained from the experts. If you want to be an expert, you have to learn from one. Consider getting a mentor because that could make all the difference.

4 Money Mistakes to Avoid in Your 20s or 30s


Your 20s are the years you’ll be spending establishing yourself in your given field. This is where you’ll learn all the tools of the trade and learn how to handle your income. When it comes to money and expenses. Some things could set you back for decades.

CHR Investor’s here to make sure you don’t make those mistakes.

Here are four money mistakes to avoid in your 20s and 30s.

1. Not contributing to your retirement:

img-13Obviously, it’ll be decades before you retire but you never know what can happen, as you get older each year. Times change and things can fall apart, so if you’re not prepared to face the future, you might as well fail with everyone else. Here’s where you get ahead and make a stand. Save for your future and start saving up.

2. Not starting an emergency fund:

img-14Always have a backup stash prepared. You never know if you can get into an accident, or if you’re a relative needs money to pay the hospital bills. Having an emergency fund is a safeguard for whatever unexpected event that can happen. If you have extra cash, try investing in insurance or put up another bank account to keep you from spending your emergency money.

3. Relying on credit cards:

img-15The worst thing about credit cards is that they make you feel secure. They give the illusion that you can spend on anything because you don’t have to pay for it yet. Unfortunately, a lot of people make this mistake and find themselves under an enormous pile of debt. Credit cards are useful in emergency situations, but if you want to buy something, make sure you already have the cash, or enough money set aside to pay for that monthly bill.

4. Failing to set financial goals:

img-16Where do you want to be in the next five years? How about in the next decade? The 20s are fun indeed because you have so much freedom to do anything you want, but those who fail to plan, plan to fail. If you want success later on in your life, you have to start today. It’s time to open a portfolio with your achievements and plans. Planning will give you an edge in this world of uncertainty.

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