To Black Card or Not To Black Card

Last Updated on 2015-01-29 by Kassandra

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In our society today, we’re told that if we spend more, then we can get rid of debt, right?

No? But isn’t that what the American government has done with our country’s debt?

We all want to feel like VIPs, but do the perks outweigh the cost?

Back in the day they used to make classes like Home Economics a requirement. And they used to teach things like balancing a checkbook, typical money management skills you would need for the home, as well as cooking tips, sewing, and more. These days that type of class is generally focused on housework skills and is now an elective.

But in what other class do they teach you about the consequences of debit? Credit cards? And the effects of borrowing money when used for commercial consumerism vs investing in your future and your financial freedom?

You would think that the economics classes would teach this. But they’re mostly theory and world economics – not about how to increase your own personal wealth and teach other people how to produce and create generational wealth by avoiding the pitfalls of the average money mentality.

I grew up with a mother who did her best to teach me at least some of these things – the things she has come across in her own lifetime. Like …

Don’t spend money you don’t have … unless it’s an emergency! Then pay it off as quickly as you can to avoid interest fees.

I also heard things like …

Once you pay down your debt, only use the card in case of emergencies.

Sounds like maybe going into debt should only be used for times of emergency?

But how do you define an emergency?

And if this is how credit cards are taught to be used in family households, then how is it that according to CNN the Average America household in 2012 had at least one credit card with nearly $15,950 on it?

Looks like that went down to an average US household debt at $15,611 in 2014 according to Nerd Wallet. In total, Americans owe $11.74 TRILLION in debt, which is up 3.3% from 2013, with $882.6 BILLION of that debt being on credit cards.

Where does all of that money go?

I really feel like these 2 less than 2 minute videos from the season 2 episode 5 of Friends (The One with Five Steaks and an Eggplant) shows it really well:

 

What I caught from this episode is truly very simple …

Both the people who make a lot of money (but have a lot of debt to pay down) and those that make minimum wage or even those in the middle class (with little to no debt) have in common …

People who have more fluid finances (by fluid I mean extra spending cash after all of the bills are paid) tend to not really think about where there friends who have less spending cash at the end of the month can afford to do.

People forget that you don’t have to spend money to have a good time.

People forget that not everyone is in the same financial situation.

People generally do not have an effective way to manage their finances.

I followed the old way of thinking about money … I got good grades when I was younger so I could attend a great college and get a degree …

But because I didn’t get all of the aid I needed to go to college (and my mother wasn’t rolling in cash) I was forced to not only use every piece of aid I could find, I had to use just about all of what was left to me after my father’s death in 1999 and I still went into debt. [Because it costs a lot to go to a school you feel to be prestigious and would look good on a résumé.]

And no matter what I did, it felt like I was still getting more and more into debt.

Looking back now, I know how it happened:

• Didn’t keep a better eye on my spending habits
• Didn’t have a way to manage money
• Constantly spending money trying to take care of others who were not taking care of themselves (being an enabler)

And they were all from my choices …

I made the choice to continue to be an enabler for someone.

I chose to take the opportunity to spend a chunk of my inheritance traveling to Italy (an AMAZING experience a lot of people never do in their lifetime)  in order to study abroad and get my minor in Italian when it could have been used for bills or to pay for my schooling …

I made those choices. And I’m living the consequences.

But I’m also overcoming them.

I’ve been diving into personal development, ways to eliminate debt and increase wealth … And I’ve not only been sharing this with you guys throughout my journey, but I have also been using these in my own life and have been working on building up my credit and knocking down my debt.

And funny thing about that …

Apparently, whatever your credit worthiness may be, you get credit card offers for all kinds of things … but apparently? If you have excellent credit, you might be sent the Visa Black Card.

In January, I was invited “by limited invitation” to be a Visa Black Card member … Flippin’ AWESOME perks … But it’s $495 a year and 14.99% APR.

The perks seem like it would be worth it … But at this time when I’m trying to pay down my debt? This is not a wise choice. (Dang did I feel fancy, though!)

I’ll be honest – it was tempting! Super tempting … But why put myself in a situation that could potentially increase my debt, rather than help eliminate it?

(Unless it was to invest in something that would create a passive residual income, of course.)

At some point in the future, maybe this will be something I would use (like use it for purchases but immediately pay it off because I already had the cash) …

Now, for some memberships the perks of being a VIP black card member far outweigh the potential setbacks …

But it’s up to you to make the financial choices that will either put you further into debt?

Or if your financial choices place you in the path towards financial freedom. 🙂

What are you doing to become financially free? Are you listening to people who have what you want? Leaders who can help you achieve your dreams?

Or perhaps you’re embarking on an adventure with your friends to bring about positive change in the lives of others?

Whatever the case may be, please leave a comment with how you are making positive financial changes, whether by eliminating debt, creating generational wealth, or helping others do the same … I want to hear from you in the comments below!

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Did you know that studies have shown that if someone was on the verge of bankruptcy that even a mere $300 to $500 a month could help them avoid it?

I got into a direct sales business in 2010 not because I was hurting for money, but because I saw the potential it could do for so many people who were in need of a fiscal revolution and a better lifestyle.

I heard stories about a bitter broke bartender who got herself and a friend signed up into this amazing opportunity and was able to completely turn her life around … And while I still love how anyone can do what she did and completely change their financial future with that product and that business …

I know that not a lot of people want to call up a bunch of people they haven’t talked to in 20+ years just to share with them something that could improve their quality of life …

And that’s when I found another way to not only potentially earn additional income, but also have the ability to reach countless people and help them improve the same aspects of life that you want to help in.

Maybe it’s fashion or make up and you have a passion to help people feel more beautiful from the inside out.

Maybe you’re a bit of a gamer geek and enjoy sharing your feedback on new games, helping others understand the benefits of gaming, or simply just looking to reach out to other gamers that share your same interests!

Do you like to help people?

Would you like the ability to be given more information on how you can increase your wealth?

Are you open minded?

Then check out the truth or hype behind the only true way to work from home and still be able to live life on YOUR TERMS!

Fortune favors the bold. Take action TODAY!

Click on the button to check out the FREE presentation that lays everything out for you …

~ To Your Success ~

Kassandra Keeton