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Money Guy Show

How Millionaires Use Credit Cards in 2021

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.73.2K Ratings

🗓️ 25 June 2021

⏱️ 55 minutes

🧾️ Download transcript

Summary

Let's break down the pros and cons of the tool we love to hate: the credit card.Is there any advantage to using one? How many millionaires regularly pay with credit cards? Is there a SAFE way to use credit? We're answering all of this, plus sharing our personal experience with credit card usage. Whether you're a credit-card-aholic or a financial mutant, this episode will help you assess and maximize your current relationship with debt, spending, and credit. For more information, visit: https://www.moneyguy.com/2021/06/how-millionaires-use-credit-cards-in-2021/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

How to use credit cards like a millionaire.

0:03.9

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:10.9

investing, taxing.

0:12.6

You've got financial questions.

0:14.2

He's got financial answers.

0:16.2

It's Brian Preston, the money guy.

0:19.1

Yeah, Brian, I'm super excited about this show because in the financial industry, there

0:24.7

are a lot of folks and a lot of people who do not like to approach this topic.

0:31.0

Then there are some folks who all they'll talk about is this topic.

0:34.5

What I think we're going to do today, what I hope we're going to do is maybe dispel some

0:38.2

of the myths, affirm some of the things that are true about credit cards, and then take

0:43.2

it a step further and let you guys know how you should think about using them.

0:47.8

We're going to open up our backpacks and show you how we use them.

0:51.4

I think everybody knows credit cards are dangerous and I don't love the practices of the entire

0:57.1

industry because it all gets back to are you a builder of wealth, are you a consumer

1:03.1

of wealth?

1:04.1

Let's face it, credit cards do kind of, they grease the skids of consumption.

1:09.8

Absolutely.

1:10.8

They definitely can have some issues, but I did want to put together, I want to put

1:14.9

to bed, something that I think floats around out there and I love this because probably

1:20.9

everybody disagrees.

1:22.7

I invite you to please leave us some comments on YouTube and engage in conversation, but

...

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