✅CHECK OUT MY COMPREHENSIVE COURSE ON PERSONAL FINANCE:
Learn about building credit, establishing savings, effective budgeting, and managing debt!
► https://www.udemy.com/course/keystone-financial-academy-personal-finance-masterclass/
✅ GET THE KEYSTONE FINANCIAL GUIDE:
The ultimate all-inclusive textbook on Money and Investing!
► https://keystonefinancialeducation.com
✅FOLLOW ME ON INSTAGRAM:
► https://www.instagram.com/ejgindis
► @ejgindis
CLIENT: So, Mr. Advisor, I’m a bit confused about credit cards.
ADVISOR: You are? Well, they’re these rectangular pieces of plastic that…
CLIENT: No, no, I meant how many should I have? People talk about all these benefits you can get from using them, like flights and hotels, and…
ADVISOR: I see where you’re going with this. Well, that is true, some cards offer a lot of rewards for the cardholders.
CLIENT: So, should I open up a dozen accounts?
ADVISOR: Here’s the right answer. You should only have as many credit cards as you can afford to pay off every month. You only get benefits from them by charging purchases. If you pay off the balance every month, you then collect the benefits and pay nothing in interest fees. However, as soon as you start carrying a balance, the interest rate you will pay will quickly exceed any cash back or other benefits the cards may give you. High income individuals, and especially those with disciplined money habits can make this work. If you’re none of the above, just have one credit card.
CLIENT: Wow, ok!
ADVISOR: And of course, learn more about finance and investing by subscribing to my channel, the Keystone Financial Academy on YouTube!
DISCLAIMER
This video was created for informational and educational purposes only, and should not be construed as a source of specific investing, financial, accounting, or legal advice. This video should never be used as the sole source of information, without consulting with a financial or legal professional to determine what may be best for your individual needs. The creator of this video, Elliot J. Gindis, does not make any guarantee or other promise as to any results that may be obtained from using the information in the video. To the maximum extent permitted by law, the creator of this video disclaims any and all liability in the event that any information, commentary, analysis, opinions, advice, and/or recommendations contained in this video prove to be inaccurate, incomplete, or unreliable, or result in any financial or other losses.
Learn about building credit, establishing savings, effective budgeting, and managing debt!
► https://www.udemy.com/course/keystone-financial-academy-personal-finance-masterclass/
✅ GET THE KEYSTONE FINANCIAL GUIDE:
The ultimate all-inclusive textbook on Money and Investing!
► https://keystonefinancialeducation.com
✅FOLLOW ME ON INSTAGRAM:
► https://www.instagram.com/ejgindis
► @ejgindis
CLIENT: So, Mr. Advisor, I’m a bit confused about credit cards.
ADVISOR: You are? Well, they’re these rectangular pieces of plastic that…
CLIENT: No, no, I meant how many should I have? People talk about all these benefits you can get from using them, like flights and hotels, and…
ADVISOR: I see where you’re going with this. Well, that is true, some cards offer a lot of rewards for the cardholders.
CLIENT: So, should I open up a dozen accounts?
ADVISOR: Here’s the right answer. You should only have as many credit cards as you can afford to pay off every month. You only get benefits from them by charging purchases. If you pay off the balance every month, you then collect the benefits and pay nothing in interest fees. However, as soon as you start carrying a balance, the interest rate you will pay will quickly exceed any cash back or other benefits the cards may give you. High income individuals, and especially those with disciplined money habits can make this work. If you’re none of the above, just have one credit card.
CLIENT: Wow, ok!
ADVISOR: And of course, learn more about finance and investing by subscribing to my channel, the Keystone Financial Academy on YouTube!
DISCLAIMER
This video was created for informational and educational purposes only, and should not be construed as a source of specific investing, financial, accounting, or legal advice. This video should never be used as the sole source of information, without consulting with a financial or legal professional to determine what may be best for your individual needs. The creator of this video, Elliot J. Gindis, does not make any guarantee or other promise as to any results that may be obtained from using the information in the video. To the maximum extent permitted by law, the creator of this video disclaims any and all liability in the event that any information, commentary, analysis, opinions, advice, and/or recommendations contained in this video prove to be inaccurate, incomplete, or unreliable, or result in any financial or other losses.
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