WEALTH Education

CASH IS KING! If you want to buy something, try to pay cash!

When you are considering using credit to buy something or take out a loan, remember there's a big price penalty to pay for debt financing. Not only that, you can often bargain better if you pay cash. Always ask if it is cheaper if you pay cash. Remember this when shopping, "If I can't pay cash for it NOW, I can't afford it." Or, "If I can't pay for it now, I don't need it!" It will very swiftly help you to decide if you really need the item or not! Another thing I also keep in mind when I go out shopping, is not to use credit for every day consumables such as food and clothing, because you end up paying double or triple for them if you don't pay off your credit card soon! A $20 meal could end up costing you $60 in the end! Ouch!