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Say No To Debt
Debt is a really evil thing. Many people are actively aware of this fact, yet they can’t seem to find a solution to evading it. I know so many people who charge up their cards, take months or years to pay them down and as soon as the balance is at $0, they find the need to load them back up.
Since this is not a personal finance site, I will not go into detail about the long terms costs of debt and the negative impacts those costs have on people’s lives other than to say they are substantial. People who think that interest is their only cost are fooling themselves.
How Is It That You Travel So Much
When I try to explain travel hacking to the average person, it goes right over their head. If you have been in this hobby for any amount of time, then I am sure you have experienced the same thing. It is ok. This stuff just isn’t important to most people. They would rather charge their expensive vacation on a credit card and pay it off over the next year. Sigh.
Out of frustration, lately I have taken a different approach to explaining what I do. A different way of looking at everything. I simply tell people that I am leveraging my good credit and lack of debt to save thousands of dollars a year on travel. (And earn cash back!) I am doing it right now and you can to. Call now!
While the successfulness of this approach remains to be seen, it is a good reminder to me of why I make certain sacifices in my life. Why I havent always driven the newest cars or had all of the latest toys. Not only am I not burdened by that debt, but my good behavior is rewarded every time I fly in a premium cabin or thousands of points post to one of my accounts.
Your Debt Pays For My Travel
The economy is improving and people are spending money. This means that the credit card companies are making a ton of money and their marketing machine is out in full force. We are now constantly bombarded with ads for ¨fantastic¨offers. Many of these are good, but the only reason they are so good is because of ¨people¨and their debt.
If you haven’t yet figured it out, the person with debt is paying for my fancy trips. They are the reason I can get these bonuses. You see, I am a minority. A blip on the radar. For every one of me there are many more people who just can’t break up with their debt. It is a sad love story really, but one that I benefit from every day.
While this post is mostly a rant, I want to emphasize my feelings about credit cards and debt. I do talk about credit & deals on this site, but it is not a deal when you are paying 10% OR 20% interest. It doesn’t matter how high the bonus is, you still lose in the end.
For anyone who is new here, credit card debt is something that is to be avoided at all costs. If you can’t be responsible with credit cards then don’t have them. No debt plus no credit is better than debt + “free travel”. Really it is!
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.