Ad Majorem.....Wealth Builders
From Brian Tracy
This post is addressed to many Americans. Many Americans are prisoners of debt.
The situation:
1. The average debt size of every American from www.creditcards.com is $15,799.00
2. The average APR on new credit card is 14.998% (this is high compared to PHL rates)
3. Total revolving revolving fund balance in US is $793. billion, 98% of which is credit card debt
So Americans have two choices - to continue credit card living, and wait for their retirement pay and SSS to retire their debt, or get out/escape from the debt prison. What is your choice.
The way out is to live within your means and be frugal. Do not spend money you do not have.
The way for most Americans (even Koreans and yuppie Filipinos is to "buy things they do not need, with money they do not have, to impress people they do not like"
The key to being wealthy is being frugal and to invest wisely
Your mind is the key to creating wealth
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