For better or worse (probably worse), credit cards are a major part of our financial world now. Cash is becoming less and less convenient to use every year, and debit cards continue to lack the same level of fraud protection that credit cards enjoy.
This isn't coincidence either. Jesse attended a "payments trends" conference in 2019, where the main topic was how to make payments easier, to remove as much friction as possible from the process of buying things. Why? Simply put, when you spend more money, more often, payment vendors make more money.
The problem is, you can't win the credit card game. Not only do payment vendors make money when you spend, the banks that underwrite credit card debt know (because they have studied human behavior) that when you swipe a credit card, you tend to spend more money. Credit card points and rewards are carefully designed to entice you to spend more money, because banks know that you will likely carry higher debt levels with a credit card.
So if you can't win the game, maybe the solution is just to opt out.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for the YNAB Debt Bootcamp!
So You Want to Renovate Your Home...
15 vs 30 Year Mortgage: Which Is Actually Better?
EP14 Money Stories: How Mackenzie Uses YNAB to Navigate College, Study Abroad, and Multiple Currencies
Master Your Grocery Budget with Erin
A Little Momentum Is All You Need
Budget Nerds Is Now a Podcast!
Ask Jesse: Planning for 3-Month Paychecks and Windfalls
Ask Jesse: How Do You Budget After Retirement?
Real Estate 101 with Scott Trench (BiggerPockets)
The Organized Wallet with Ashley from TikTok
Take the More Money Challenge with Veronica
Budget Burndown Revisited: How to Set and Reach Your 2022 Financial Goals
EP13 Money Stories: Jak and Chelsea Tackle ADHD... with YNAB
Celebrating Your Biggest Wins in 2021
Ask Jesse: How Do I Get Back on the Budget Bandwagon?
Meet the Chief of Side Hustles: Nick Loper
Ask Jesse: How to Launder Money... for Christmas?!
Don't Afterpay Your Way Though the Holidays
Ask Jesse: Living Right And It's Not Fair
Adapt or Die
Create your
podcast in
minutes
It is Free
We Study Billionaires - The Investor’s Podcast Network
Money Girl
So Money with Farnoosh Torabi
Money Tree Investing
The Disciplined Investor