A Word About Credit Cards

As a side note to my story, let me stress that I am NOT encouraging racking up high credit card debt and potentially spending the rest of your life working just to pay interest. It is a very dangerous game to play and definitely NOT for everyone. Getting swept up in the credit card craze can be life draining and lead to feelings of helplessness, hopelessness and sheer desperation.

On the other hand, using credit in a SMART, EFFECTIVE and CONSCIOUS manner CAN greatly increase the quality of your life by helping you achieve your goals in personal, financial, professional and even spiritual aspects of your life. But you MUST know what you are doing AT ALL TIMES and more importantly, WHY! I am using all caps and bold ON PURPOSE, to stress and OVER stress that YOU. MUST. BE. AWARE. OF. WHAT. YOU. ARE. DOING. AT. ALL. TIMES! You must never ever let it control you, even for a moment. The moment you let down your guard, you are knocked off your feet and swept into a downward whirlwind spiral of increasing uncontrollable debt. For those of you currently in this spiral, you know how suffocating it is.

If you use it wisely, though, it can become your best friend in helping you achieve your goals.

It took me two years to pay off what I borrowed for the closing costs as well as the remaining balances on all my credit cards. Why two years? I sold my townhouse and banked $50K. Since I had waited two years, I didn’t have to pay capital gains tax on any of my profit and was able to keep it all tax free.

I’ve been credit card debt free ever since but still continue to use them when I want, with the condition that I pay it off at the end of the month before accruing interest. Would I accrue debt again if I had to in order to make another dream come true? Heck YES!


	A WORD ABOUT CREDIT CARDS
	As a side note to my story, let me stress that I am NOT encouraging racking up high credit card debt and potentially spending the rest of your life working just to pay interest. It is a very dangerous game to play and definitely NOT for everyone. Getting swept up in the credit card craze can be life draining and lead to feelings of helplessness, hopelessness and sheer desperation. On the other hand, using credit in a SMART, EFFECTIVE and CONSCIOUS manner CAN greatly increase the quality of your life by helping you achieve your goals in personal, financial, professional and even spiritual aspects of your life. But you MUST know what you are doing AT ALL TIMES and more importantly, WHY! I am using all caps and bold ON PURPOSE, to stress and OVER stress that YOU. MUST. BE. AWARE. OF. WHAT. YOU. ARE. DOING. AT. ALL. TIMES! You must never ever let it control you, even for a moment. The moment you let down your guard, you are knocked off your feet and swept into a downward whirlwind spiral of increasing uncontrollable debt. For those of you currently in this spiral, you know how suffocating it is. If you use it wisely, though, it can become your best friend in helping you achieve your goals. It took me two years to pay off what I borrowed for the closing costs as well as the remaining balances on all my credit cards. Why two years? I sold my townhouse and banked $50K. Since I had waited two years, I didn’t have to pay capital gains tax on any of my profit and was able to keep it all tax free. I’ve been credit card debt free ever since but still continue to use them when I want, with the condition that I pay it off at the end of the month before accruing interest. Would I accrue debt again if I had to in order to make another dream come true? Heck YES!	Read our Owner/Builder Real Estate Blog Click here for FREE info to help you get started in Real Estate!
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