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- 1. Caveat OFW – Scammers at the Gates, Part 1
- 2. The Tale of the Oilman and How Herds Trash Reason
- 3. Why We Should Beware of “Proprietary Strategy”
- 4. The Four Telling Signs of Lack of Investment Literacy
- 5. The US Anti-Outsourcing Bill and Its Possible Impact on OFWs
- 6. The Good Luck Charm That I Know
- 7. When Humans Bend Credit Rules, Ghosts Appear and Darkness Looms
- 8. Is Franchising the Road to Entrepreneurial Success
- 9. Are You Ready to Invest in Mutual Funds
- 10. The Three “Musts” of an OFW Bank
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Category Archives: Credit Cards
After the topic of “distinguishing needs from desires” in the last post, it looks but a result of natural progression to discuss about debt and its role in the “needs against desires” equation.
With the issue of Euro zone debt taking center stage again – with Greece in real and immediate danger of default –it looks an opportune time once again to take a rather philosophical view about debt or its mirror twin called credit.
Take this post as a rant or call it anything. It is difficult to talk about “modern day debt slavery” as we mentioned in the last post, without getting angry at the perpetrators.
In an even earlier post, we discussed about the “Curse of the Plastic – Why We Should Beware of Credit Cards.”
Well, it is the same “curse” that is worth discussing hundreds of times. We need an overkill on this very important issue.
Credit card debt is like an “Achilles heel”, an area where common folks like us, are most vulnerable. It is so pointless trying to save unless we solve our vulnerability to get victimized by this curse.