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Warrior Trading // Ross Cameron // Day Trade Warrior

The The: The common understanding among people in the finance space is that you want to be really careful with unsecured debt, which is credit card debt. Credit card debt is high interest and if you're using credit card debt to pay your cost of living to cover your monthly burn rate, that is a problem that is a major problem that's not going to work you really. Credit cards should only be a tool where you're paying off the balance each month. And you need credit cards because you need to to build a history of being credit worthy.

That's how you build your credit rating. So credit cards are important, but you want to pay down the balance each month. Similarly, car loans are important because it establishes a track record of you paying the bill on time. So I even myself use car loans.


By Stock Chat

where the coffee is hot and so is the chat

One thought on “Using credit cards for cost of living #personalfinance”
  1. Avataaar/Circle Created with python_avatars @infinitelyllc says:

    Debt is a great asset, but no one said it was cheap. 🥰

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