Participants: Cordell Thomas
Series Code: TITTB
Program Code: TITTB000004
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00:01 On Take It To The Bank,
00:02 you will find ways to get out of debt... 00:09 solve your credit card problems, 00:14 how to make and stick with a budget... 00:19 simple ways to save, 00:24 buying or selling a home 00:26 and many more financial matters, 00:29 on Take It To The Bank. 00:32 Hi. My name is Cordell Thomas. 00:34 And welcome back to Take It To The Bank. 00:37 I look forward to chat with you today 00:38 about a specific issue that's I think very important. 00:41 It is about credit. 00:43 Credit, how you evaluate the use of a credit card, 00:48 and how important it is in our daily lives. 00:50 Do we need credit? 00:52 Some of the important questions that we can typically ask 00:55 about these issues. 00:57 One of the things we'll talk about today 00:59 will be the 20/10 rule. 01:01 How much debt should you take on? 01:03 The other issues would be how can we talk to 01:06 and teach our kids, our young people, 01:09 our college students about the use of credit. 01:12 What's the best age to start teaching your child 01:14 about credit cards? 01:16 Is a credit card a necessity 01:18 for young person that goes into school? 01:20 So we start this conversation. 01:22 I think it's gonna be quite interesting 01:23 as we go through this process for the next few minutes 01:26 and discuss this issue called credit. 01:28 I have a couple of questions 01:30 that I'd like to ask you upfront to see where we are at. 01:34 The first question I have has to do with 01:36 what a credit report is. 01:39 Is it A, 01:40 a list of your financial assets and liabilities? 01:43 Is it B, your monthly credit card statement? 01:47 Is it C, your loan and bill repayment history? 01:50 Or is it D, your credit line 01:52 with your financial institution? 01:56 If you've answered C, you are correct. 01:59 A credit report is a loan 02:01 and bill payment history report. 02:03 Basically, it is kept by your credit bureaus. 02:06 And it's used by financial institutions 02:07 and other potential creditors to determine how likely it is 02:12 that you will repay your debts, 02:15 an assessment of your character. 02:17 Information in your credit report 02:18 can affect your ability sometimes to get a job, 02:21 to get a loan, to get another credit card 02:25 and of course, possibly in some cases insurance. 02:31 Okay. Question number two. 02:35 The terms-- 02:36 In terms of credit, what does APR stand for. 02:40 Is it A, annual percentage rate? 02:44 Is it B, annual penalty rate? Is it C, annual payment rate? 02:51 Or is it D, annual payoff rate? 02:55 If you've answered A, you're correct. 02:58 APR stands for your annual percentage rate. 03:02 The APR is a measure of the cost of credit. 03:06 What you are willing to pay 03:07 to access the use of that credit. 03:10 Usually the lower the APR, the better it is for you. 03:15 Let's go to several statistics that are going-- 03:17 that are out there right now in reference to credit. 03:20 The average credit card debt per household 03:22 as of January 2010 is $14,750, 03:28 $14,000 worth of credit card debt. 03:32 In average there are approximately 03:33 609.8 million credit cards in circulation by US consumers. 03:40 The average number of credit cards 03:41 held by card holders is about 3.5 card holder. 03:46 That was as of year end 2008. 03:49 In total, US consumer debt is 2.4 trillion dollars 03:55 as of June 2010. 03:56 That is a significant number. 03:59 And of course, one of the basic measures 04:01 of what's going on in our in our society right now 04:05 is a context of delinquency. 04:10 What do I mean by delinquency? 04:12 Well, delinquency very basically means 04:15 that I am delinquent. 04:17 Or I am late. 04:18 Or I haven't made my payment on a timely basis 04:21 on this credit card. 04:23 And they're saying that 04:25 where the rate is approximately 3.23 percent of consumers 04:29 are actually running delinquent as of January 2011 04:33 of 60 days or more, 60 days delinquent and or more. 04:38 Of course, we went through a financial meant meltdown. 04:40 People are now lacking the money 04:42 that they used to have 04:44 in reference to equity in their homes, 04:46 they can't leverage that anymore. 04:48 And it's interesting as we talk about this issue called credit. 04:51 And I'll tell you why. 04:52 There was a story that's out 04:53 about the generational differences 04:56 and how the generations approach 04:58 the use of money and credit. 05:01 The story is told over of a 55 year old gentleman 05:04 who's the baby boomer and he had a young, a child, 05:07 a daughter who was millennial individual 05:10 or still is for that matter. 05:12 And they had a conversation with both. 05:14 The conversation with the dad was, 05:15 "Yeah, we lived through the 60s, 70s and 80s 05:19 and we had homes appreciating the value. 05:22 We could leverage the debt, we could get credit cards 05:24 and quite frankly get into a whole lot of debt." 05:27 His daughter in the meantime has come on scene 05:29 as a 23 year old millennial. 05:32 She basically says you know, "I open a checking account 05:35 and as I use the checking account, 05:38 I bounced my check. 05:40 And once I bounced the check, 05:41 I realized the importance of watching my finances. 05:45 And she said I've never bounced another check. 05:47 In fact, I now watch my money in a real time basis. 05:50 I don't use credit cards, I don't have credit cards. 05:53 And that which I use is a cash based basis. 05:55 But I do use technology to maintain 05:58 and manage the use of the money I have. 06:00 So I can tell you at any specific time of day 06:03 where my money is going and what my money's doing." 06:07 It was an interesting article to take a look 06:09 at the generational differences of how we perceive finance, 06:12 and how we perceive debt, 06:14 and how we have handled debt within our lifestyle. 06:17 So baby boomers come from a different generation 06:20 but they have taught their young people 06:22 in a specific way 06:24 that we are result of our parents. 06:28 When we look at the context of credit, 06:31 there are several things we have to discuss. 06:34 One is, do we need a credit card? 06:39 The statistics show that in circulation today 06:41 there's approximately 06:42 49 million American Express cards out there. 06:45 MasterCards, there are approximately 06:47 171 million MasterCard credit cards. 06:50 In reference to debit cards, 06:52 there are 123 MasterCard debit cards. 06:55 Visa has 269 million credit cards 06:58 that are out there. 07:00 And then of course, MasterCard, Visa Debit cards 07:02 are approximately 397 million cards. 07:05 Now there's a resurgence or a growth 07:09 in the number of debit cards that are being used 07:11 which is a good thing. 07:12 But there are many things we have to discuss 07:13 about even debit cards. 07:15 It gives a really money. 07:16 It comes directly from your account 07:18 and you're not borrowing the money. 07:19 So the issue of credit is beginning to take a change 07:23 as our millennial 07:24 and our urban mindset demographics 07:27 are changing the way we think of things. 07:30 But they are still consumer driven 07:33 as some of the research shows us. 07:36 So if we look at that and how credit is being used, 07:39 it's important to understand 07:41 that if we become delinquent in our payment 07:43 on a credit card, 07:45 it tells us that the banks now have control 07:47 to say that we could raise the interest rate 07:49 if you miss a payment. 07:52 So if you take a look at the use of credit, 07:54 you can see that, for example, 07:56 the national average in APR is actually 14.65 percent. 08:02 If you have bad credit or you missed several payments 08:05 or that type of thing, 08:06 the interest rate can actually go up to near 25 percent, 08:10 25 percent annual percentage rate 08:14 which is very interesting 08:15 because that's a lot of money 08:17 to pay out for that use of the credit, 08:20 when we can think about how we value the things 08:23 we want to purchase. 08:24 If we want to purchase it, as I talked about my son, 08:27 he is now saving based on a goal in mind. 08:31 Secondarily. 08:32 We all have to discuss the issue 08:34 of what kind of budget do we have. 08:37 What kind of revenue 08:38 and or money coming into our bank accounts. 08:42 And how is the money going out of our bank accounts. 08:45 How do we measure the amount of credit 08:46 that we do have. 08:48 My recommendation is zero. 08:50 But it's saying the 20/10 rule says you should maximum have 08:54 20 percent of your annual income, 08:58 net income going to credit 09:00 and in reference to paying it back, 09:02 they say that the reference point is 09:05 approximately ten percent of your net monthly income 09:08 should go back to the repayment of that debt. 09:11 We're looking at a lot of different areas 09:13 but I want to take you to a quick commercial 09:17 or interview of several people we saw on the street 09:20 and we asked them that question regarding your credit. 09:23 "Are you likely to carry a balance on your credit cards 09:26 or do you pay them off each month?" 09:27 Let's take a look at these select interviews. 09:32 I try to pay them off each month. 09:35 I try, currently at this moment I don't have any credit cards 09:38 because I've had a problem in the past. 09:41 So I am doing just debit cards and cash only 09:44 to help my, help myself mature financially a little bit. 09:47 But when I did have credit cards, 09:49 I tried to make sure that were paid off on a monthly, 09:51 on a monthly basis. 09:54 I carry a balance 09:55 because that's the only way you can increase your credit. 09:59 But the problem is 10:00 you normally fall back like I have. 10:03 But it's only because of economy. 10:06 With my credit cards, 10:07 I actually carry a small balance. 10:12 I think it's essential for us 10:14 that it to understand what credit is actually about 10:17 and how it impacts each one of our lives. 10:18 The total credit card delinquency 10:21 that's been paid out over the past year 10:23 was approximately 20.5 billion dollars 10:26 in reference to penalties. 10:28 And there are many other things we can talk about 10:30 but I like to bring it back to what we started with. 10:34 And it's a matter of looking from a biblical perspective. 10:37 And I told you about a verse in 1 Corinthians 4:2. 10:41 1 Corinthians is a book in the New Testament. 10:45 And if you look after the Gospels, 10:46 Matthew, Mark, Luke and John, you have Acts, Romans 10:49 and there is 1 Corinthians. 10:51 1 Corinthians chapter four, the chapter is 4 and verse 2. 10:55 And it says basically a steward is one 10:59 that is faithful. 11:01 We are stewards. We need to be faithful. 11:03 What do I mean by steward? One that is trusted. 11:07 We go back to the parable of the talent. 11:11 And we talk about wealth. 11:13 Wealth doesn't have to do just with money. 11:16 Wealth has to do with the skills and talents 11:18 that Christ has given you. 11:20 There are those that are talented 11:22 in the skill of managing money 11:24 and there are those that are talented 11:26 with the skill of repairs, 11:29 mechanics, faith as we discussed in James. 11:33 James 2: 5-9. 11:36 And the context of wealth means 11:37 that we are no longer looking at stereotypes 11:40 and we treat one better than the other. 11:42 There are no favorites here. Christ treats us all the same. 11:45 We should treat others the same. 11:47 In fact, the more wealth you have, 11:49 the humbler you should be. 11:51 When you took a look at the way 11:53 someone used the finances in this case, 11:56 the money that God gave them as He went away, 11:59 He says I'm coming back. 12:00 I'm going to hold you accountable. 12:02 Debt is now a unique thing because we are now 12:06 no longer working for something that we want, 12:09 we are using credit to obtain something 12:12 and taking our time to pay it off. 12:14 And that's not good use of God's money 12:17 because we're taking a lot of money 12:19 to actually cover the interest on that debt. 12:26 Biblically it's sound. 12:28 When you take a look at the numbers, it's critical 12:31 because there are 12:32 many different types of credit cards, 12:34 credit card accounts. 12:36 Let's take a look at a few of them. 12:39 There are bank cards, Visa and MasterCard, 12:43 come from the major banks, 12:44 which is where you can get these type of cards. 12:46 But there are also department store cards, gas cards 12:50 that can be really only used at that specific location, 12:55 wherever that might be. 12:56 And then, of course, there are travel 12:58 and entertainment cards which require 13:00 that you pay off the debt within that 30 days 13:04 which are actually pretty good. 13:06 We use the money. 13:07 And then you are make sure you're able to cover that debt 13:10 within 30 days. 13:12 That's not a bad thing. 13:14 The overall context of credit now is to know 13:17 that there are different forms of cards 13:19 that can come your way. 13:22 Now when you shop for a credit card, 13:24 there's seven basic things I ask you to look for. 13:28 I think it's critical 13:29 as we take this journey together. 13:30 One is, determine the best use of that card. 13:35 I talked about our young people 13:37 and our kids as they're growing up. 13:38 What's the best time to teach them about credit. 13:41 I think any time is a good time 13:43 to talk to your young person about Credit. 13:45 What that time is, I can't tell you. 13:48 You know the personality that child has. 13:50 You know what type of learning capacity they have. 13:53 And you know the right time to give them that education, 13:55 where the education is key. 13:59 Now when you use the card, what are your plans? 14:03 The first thing you should think of is, 14:05 this card should probably only used 14:06 in an emergency setting 14:08 or it can only be used if I need to book travel, 14:11 or to use it to book a hotel room 14:13 and or rent a car 14:14 which is necessary from that standpoint. 14:18 The other issue that you need to also keep in mind 14:22 in reference to the card is, 14:25 make sure you begin the thought process of. 14:27 The use of the card, will I be using it 14:30 to repay the bill over time. 14:31 If that's your-- if that's your excuse, 14:34 I'd say get away from it. 14:35 If you can't pay for something in full at the time you wanted, 14:39 there's no need to put it on credit. 14:41 You should earn that 14:42 and put value in the thing that you're purchasing. 14:45 Number two, take a look at the costs 14:48 and features of a credit card. 14:50 There are several. What is APR? 14:53 And we talked about APR. What does it mean? 14:55 Annual Percentage Rate. 14:57 What is a grace period? They offer a grace period. 15:00 After you miss that 30-day time frame to pay back 15:04 or pay on the debt, will they charge you a fee 15:08 or will they give you a specific grace period 15:10 that you can help you to cover that-- 15:12 cover that payment. 15:13 Is there an annual fee? Some offer an annual fee. 15:18 There are several cards that charge you a fee 15:20 to use the card on a on a yearly basis. 15:23 Take a look at that. 15:24 You want that, 15:26 maybe that's a part of your decision making process. 15:29 Over the limit fee, 15:31 balancing all of these issues with finance charges 15:36 that can accumulate on your credit card. 15:39 What is the credit limit? Is that important to you? 15:41 You need just a $100 limit, you need a $5000 limit, 15:44 those are issues to look at. 15:46 Credit is credit. Demand is there. 15:49 And then the last thing I talk about is, 15:51 what are the features and the services 15:53 that are available with our credit card. 15:55 These are all things that you should take a look at 15:57 when you dialoguing about, talking with your spouse 16:00 and or you're making a personal decision 16:03 about accessing your credit. 16:06 Calculate, 16:07 determining what APR is very important as it, 16:10 as it applies to your average daily balances, 16:12 as it applies to the adjusted balance, 16:14 the previous balance, of the account. 16:17 So it's important that you know 16:21 what your credit card balance looks like, 16:23 your card statement looks like. 16:24 Take a look at it if you do have credit cards 16:27 and ensure you understand every element of the card 16:31 that you are using. 16:33 Number four, or number five, excuse me, 16:36 read the credit card application. 16:39 Make sure you read it through. 16:40 Many of us are just, you know, okay, 16:43 it's an application, I'm just signing my name on it 16:45 because I'd like to get access the credit. 16:46 But what are you actually signing your name to? 16:50 Interpreting the features and costs are important 16:52 and as well taking a look at what the fine print says 16:57 about penalties and how much they can charge 16:59 and how much they can raise the interest rates 17:01 if you miss a payment. 17:03 Number six, before signing, as I mentioned before 17:06 know the details of the contract. 17:10 And then, of course, when shopping 17:12 for any type of credit card, make sure you know 17:17 and compare the costs and features. 17:18 Credit, credit, it's an interesting thing 17:22 when you talk about credit. 17:24 And what I like to chat with you now 17:25 I'll give you a unique story 17:26 about what my wife and I dealt with 17:29 in reference to dealing with credit. 17:32 I want to talk to a little bit about cooling off. 17:34 Cooling off period. 17:35 It's actually something that's a law 17:37 in reference to how you can handle 17:39 door to door sales people. 17:41 And any type of acquisition or purchase 17:43 that you can make from someone comes to your front door 17:46 of $25 or more, 17:47 you have the right to have a 72 hour cooling off period 17:51 where you can make a decision about this actual purchase, 17:55 did you really need to make it, 17:56 was an acquisition or purchase that you had to make 18:00 or needed or wanted. 18:02 Those things are critical for your understanding 18:04 so that if you do happen to have 18:06 a door to door salesperson come to you 18:09 and sell you something like a vacuum, 18:11 like a widget, like a book, 18:12 you will have that opportunity to say, no, 18:16 no it's not something that's important to me 18:19 and it's not something that helps me 18:20 meet my own budget. 18:21 Okay, it's funny because that person came to the door, 18:24 those two people came as a couple. 18:26 And I answer the door my, um, 18:28 they were speaking a different language 18:30 which is Spanish 18:32 and I couldn't really understand everything. 18:34 Now, you know, my wife has been trying to teach me 18:37 Spanish for a while 18:38 and I guess I've learned a lesson from that. 18:42 They came in 18:43 and I said let me get my wife to speak to you 18:45 because she can pretty much understand you more. 18:48 To put it in a short context, 18:50 they were there to sell us a water treatment system, 18:54 a water treatment system that we are able to pay it in full, 18:57 it's $4300 and they really dialogued us. 19:01 They actually came in and did some testing 19:03 to the water that we currently have 19:05 and showed us that we were quite frankly, 19:07 quite frankly drinking something 19:09 that wasn't good for us. 19:10 And so they sold us on a variety of things. 19:12 As a matter of fact, 19:13 they were such convincing salespeople that they, 19:17 they were willing to come to our church 19:19 and fellow with us and whatever. 19:21 But the case was more under the service 19:24 that I didn't realize that 19:25 in trying to get us to buy this big purchase item, 19:31 what I should've initially done was say, 19:34 "Can you give us some time? 19:36 My wife and I need to go and talk 19:39 about how this purchase will impact our budget." 19:44 But we didn't do that. 19:45 My wife is really a soft voice 19:47 that is my good conscience over here 19:50 and she said you know, 19:51 "We don't really need it right now. 19:54 It's not something that we need to have." 19:57 But of course, in the conversation 19:58 and the dialogue, they told us that it was necessary 20:02 and whatever needed to happen. 20:03 Now understand it's door to door 20:05 so we have a cooling off period but the moment we said okay, 20:10 the next day their mechanic came into our home 20:14 and actually made some major changes 20:16 by installing this water treatment system. 20:18 Now what did that do? 20:20 It took away a major decision making process 20:23 that we could have could have made 20:25 because they put the system in the next day. 20:29 And then of course, 72 hours later, 20:32 I was thinking, "Man, do I really need this? 20:35 Is it really that important? 20:36 Let's, let's tell them we don't really want it." 20:40 And though we go back to them and say, 20:42 you know, it's not something we really need to have 20:44 but "Oh, Mr. and Mrs. Thomas, 20:48 we have already put down all the work 20:50 and put the stuff in your house. 20:52 It's no problem. 20:53 But we can easily come and take it all back." 20:57 Now understanding that there's a lot of work 20:59 that was done in associated their pipes and stuff 21:03 to our pipes and stuff to help soften the water 21:05 and believe me you know taking a shower was in fantastic 21:08 because of the salt in the waters 21:10 was soft and felt so good. 21:12 But every time I take a shower now, 21:15 I think about how much money I spent on just this system 21:19 that I don't think I really needed. 21:21 So I have to switch my mindset and think, 21:23 "Okay, this is all good. 21:25 There's no problem. It's in the house now." 21:27 But there's always that needle in the back of me 21:30 saying, "We really didn't need to do it." 21:36 What is dramatic about it is we obtained their credit 21:40 because we weren't prepared to outlay $4000 21:43 at that point in time. 21:44 And we found that if we made the payments, 21:46 the minimum payments on this account, 21:48 it would take about four years to pay off 21:51 and when we're finished paying it off, 21:52 we would been paying absorbent amount in interest 21:56 to get this thing taken care of. 21:57 My wife and I had a serious chat one evening, 22:00 we prayed about it 22:01 and at the next time we got our tax returns, 22:04 we just paid the whole thing off 22:05 and took care of that specific debt. 22:07 But what am I saying? 22:08 The issue of credit should be of major concern. 22:11 It should be a topic 22:13 that you talk about all the time 22:14 as it applies to your budget. 22:17 If we would have taken the simple step 22:19 of assessing the budget that we have, 22:22 and looking at the costs 22:24 associated with the annual percentage rate, 22:27 take a look at the interest of we've been charged, 22:29 take a look at the outlay 22:30 and then even ask for secondary opinion 22:34 of having somebody coming in 22:35 and taking a look at our water quality, 22:37 we may have changed our minds 22:38 and never went through the hassle of that acquisition. 22:42 Now of course, it was day, a door to door sales person. 22:44 We had the cooling off period. But you know what. 22:47 I didn't want to risk an upset manufacturer 22:51 coming back to my home to rip things out of the wall 22:54 and, and, and take back what they don't feel 22:59 they needed to take back. 23:01 So I felt it was safer for us to stay with it. 23:04 The other thing that was quite interesting 23:06 and something you should know is 23:08 it wasn't just the equipment. 23:11 Think about that when you're looking at a car 23:13 or any other type of purchase. 23:15 When we bought this system, 23:17 the system ended up costing us 23:20 more so than just the $4300, 23:23 we have to pay at least $25 every three months for salt 23:28 to pour into the system. 23:29 And every year we have to pay another $120-$130 23:32 to have them come in and change all the filters. 23:35 Was it really worth it? I don't know. 23:38 At this point in time, yes. It was. 23:41 But for you and me, I think it gives us the idea 23:44 that we have to take this issue called credit very seriously. 23:51 So as we are beginning to wind down in this series 23:54 on credit on this program, 23:57 I ask you to do a couple of things for me. 24:02 One of the things I ask you to do 24:04 is there are a lot of resources available online. 24:08 There are a lot of resources that are available for you 24:10 to do searches on and find out about credit and APR. 24:14 Educate yourself on the lingo, 24:16 read through a few things 24:17 and understand what you are getting into. 24:20 The context is this. 24:23 There are many things you need to know. 24:25 One is, in reference to credit, choose wisely. 24:31 You have to stay alert to many different things 24:34 that are going on and many of the issues 24:36 that we need to concern ourselves with 24:38 include the concern with fraud, 24:41 an ID theft and those type of issues. 24:44 The other thing is to make sure 24:46 you understand the true cost of the purchases 24:50 that you go through within reference to credit 24:52 that you are using. 24:54 Understand your rights, 24:55 educate yourself in reference to the 20/10 rule 25:00 in reference to how much you should consider 25:03 in reference to what you afford in credit on a monthly 25:07 and or yearly basis. 25:09 And then of course, if you are in debt, 25:11 if you are in credit card debt, 25:13 and you want to get out of that debt, 25:15 understand that a realistic goal 25:17 in paying off credit card debt 25:19 is approximately to two to three years. 25:22 It typically takes that amount of time 25:26 to reduce debt. 25:27 It's like losing weight. 25:28 You can't just run into the gym 25:30 and expect to lose ten pounds overnight. 25:33 It takes time to reduce the debt that you may have 25:38 when you are looking at credit cards. 25:40 And then of course, cut the spending. 25:43 It does a lot to heal and a lot to do, 25:47 a lot of things for your actual family. 25:50 There are things you should look at 25:51 and I mentioned several things that are of critical concern 25:55 and I want to bring them up to you in 25:57 is reference to kids in credit 25:59 as we go towards closing into this. 26:01 How young is too young for credit? 26:04 What's the appropriate age? 26:07 Given your child a card 26:10 around age 16 may be appropriate 26:12 but it may not be appropriate for all kids. 26:15 How do you prepare them for college? 26:16 These are questions you may need to start asking 26:18 and talking to them about. 26:20 I would tend to think that the bottom line is this. 26:23 They don't need credit cards, 26:25 maybe associate their debit card to your account. 26:29 Don't give them overdraft protection. 26:31 Make sure that whatever they use it, 26:33 whatever is allocated to them 26:34 that they have the budget that wisely. 26:37 But in reference to credit, also make sure 26:39 that they understand that there's overall thing called 26:42 credit is a privilege. 26:45 It is a privilege. 26:48 These cards that are out there 26:50 are putting many people in debt. 26:52 Did you know that there is a growing demographic 26:57 in our United States and even of United, UK 27:01 and it's this, 18 and 19 year olds 27:03 are now going for credit Counseling 27:05 because they're upwards of $26,000 to $30,000 in debt. 27:09 They're second only to 40 to 44 year olds 27:13 who are also obtaining that same credit counseling 27:15 for the same purposes involved. 27:17 And that being, we owe too much in credit cards 27:20 and we need to get help in getting out. 27:23 There are privileges to using credit, 27:25 you as a consumer need to understand 27:28 that these rights that you have to use credit 27:31 is not really a right. 27:32 It's something that puts you in debt 27:34 and personally I think, credit is not necessary. 27:38 It's something that we should try to keep away from, 27:41 we should keep in mind that the real use of money 27:45 and the value in money is to pay as you go, 27:49 to earn what you need. 27:51 And pay for it as you need it. 27:54 Credit is key. 27:57 Take It To The Bank and save. 27:59 God bless. |
Revised 2016-02-18