Major Money Malady—Buying on Time

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 261-September 18 “The quickest way to double your money is to fold it in half and put it back in your pocket.”—Unknown We don’t pay for anything up front any more. When we want something, we get it. If we don’t have the money, we charge it. We buy everything on time. The longer the time, the more money we pay for the item. But the payments are so small, we forget. Rennie Gabriel, in his book Wealth on Any Income, gives an illuminating example of the total amount we end up paying for products purchased on credit. He states that a dining set on sale at a department store for $648 (including tax) costs … [Read more...]