Dave Ramsey tells you to cut up your credit cards, but Mike Andes started his business with a $10,000 credit line, paid it off every 30 days, and never paid interest. The difference: discipline.
April 5, 2023.
$10,000.
30 days.
About $5,000–$6,000.
If you use your credit cards, you do not want to be rich. Cut up your credit cards. If you use a credit card, you don't want to be rich. Yep.
Although I agree with the sentiment about credit cards and their high interest, the bottom line is I started my business and I had a $10,000 line of credit, or also known as a credit card that I was able to tap into and I was able to take 30 days to pay it off before any interest accrued. I never had to pay any interest, but I used that credit card as a way to make sure I floated my cash as I started my business and I hired people and I bought things and I might have 5, $6,000 of balance, but I make sure I pay every 30 days. To make a general statement that anyone that uses a credit card doesn't want to be rich is asinine.
