The CDC definition of a parasite is: an organism that lives on or in a host and gets its food from or at the expense of its host. They’re not necessarily out there to completely destroy you- at least not immediately. Instead they want you to go on living your life, so that they can leach as much as they can while they get fat and happy, hopefully without you even noticing. And that’s exactly how we feel about crappy financial products except they’re not feasting on your blood, they’re feasting on your dollars. Their ability to thrive comes at your expense and it’s abundantly clear that these crappy financial products don’t have your best interest in mind. So today we’re going to run through a number of the worst culprits out there, why they’re the worst, and then what you can do in order to make sure that you avoid getting fleeced.
- Working out – Check out the different November Projects chapter all around the world so that you can get your workout on, for free!
- Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!
During this episode we enjoyed a Wrigley Fields Forever by Good Word Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers.
* User Generated Content Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.