Avoid Using Credit To Extend Your Paycheck

Many people look to credit cards as a way of extending their paycheck. But in fact, you end up with less money, not more. Never get a cash advance with a credit card.

Many checking accounts have overdraft features that can be very dangerous to the person who has difficulty in the spending control area. These accounts make it easy to borrow money by writing checks, even when you have no funds to draw on.

Your thoughts on this subject? Your comments appreciated!

Content © Rich Brott, 2011

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I can’t believe the number of people who walk into my office running a negative balance on their checking account. They say, “Oh yeah, I’m into my overdraft” so flippantly that it is apparent that this is a normal spending pattern for them.