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!
Behind the Scenes: A Random Chat with the YNAB Team
How to Talk to Your Kids About Money with Anne-Lyse Wealth
Behind the Scenes: Personal Finance Tips from the YNAB Team
Back to School, Back to Budgeting
Behind the Scenes: The YNAB Team Shares Their Very Best Budgeting Advice
Meet the Man with All the Hacks! Chris Hutchins
Behind the Scenes: Working at YNAB
EP10 Money Stories: How Tristan Pursued His Art Dreams and Paid off $80k of Student Debt
Behind the Scenes: Budgeting with a Partner
Mom and Dad, We Need to Talk: Money and End-of-Life Care with Cameron Huddleston
Behind the Scenes: What's The Budget Done for You Lately?
Meet Your Guide to the Student Loan Jungle: Travis Hornsby (Student Loan Planner)
Behind the Scenes: YNAB Employees Tell Their Debt Stories
James Clear: Building Good Habits and Breaking Bad Ones
Dear College Student
Hannah Cole: Simplifying Taxes for Artists and Creative Professionals
You're Broke and Winning
A New Way to Pay for College? David Stackpole's Unique Strategy
EP09 Money Stories: Carol Kissinger Was "Bad At Money," Until She Found YNAB
How to Be a Financial Grownup with Bobbi Rebell
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