July 2009

Get Rich Quick…….”When something sounds too good to be true, it is.”

Keeping that in mind when you are thinking of using one of your credit cards because they offer “rewards” is a case in point. Do they offer frequent flier miles? Consider do you ever fly anywhere? How often? Comparing the interest that you pay to get enough flier miles to go where you want, wouldn’t it just be cheaper to buy a ticket? On one credit card that I saw recently it said, “Cash in your rewards or you will lose them.” So I looked at the catalogue to see what rewards they were talking about. They had listed about five things that could be bought with reward points. Nothing was exchanged straight across. You also had to pay for the item. The prices were not cheep. A neighborhood store would have these same items at a lesser price. Check out the offer from your credit card company. Are these the kind of people that you want to support?

Every one wants something for nothing. Quick fixes. Easy money. Looking for that “get rich quick” secret that will make all of their worries go away.

I’m sorry to tell you this but there is no magic wand waving secret that will suddenly give you all of the money that you want.

There is no rich relative, for the majority of us, that is going to leave enough wealth to sustain us past our golden years. It is entirely up to each individual to take care of themselves. You won’t be able to do that if you don’t start now.

Here I want to add that if you have a few dollars and are thinking about investing. Make sure you do your homework. Don’t leave it entirely in your broker’s hands. Find out for yourself the history of the stocks or products that you are interesting in then make a wise decision getting good counsel on the matter.

The thing that will really make a difference is a lot of hard work. Live on less than you make, get out of debt and live on a plan. These are the things that will work. Not the get rich quick scams that abound.