*If you love Nate, let's show him some love with a like on his video!*
@NateOBrien
5 жыл бұрын
The Jaxx Channel - Self-Growth Health Wellness I sincerely appreciate it!
@RedNarboneta
5 жыл бұрын
man how'd you know
@lifeinmedicine1097
5 жыл бұрын
@@NateOBrien am sorry Which is best now a credit card or debit card?? Cause many of ma friends advice me to use debit card!!
@segarinnajohnson4092
4 жыл бұрын
I wanna marry him
@suzhang628
4 жыл бұрын
since I subscribed,I have always given a thumb up on every vedio I have watched.
@kawaspresso3228
4 жыл бұрын
Living in France, it's not common for us to have a credit card. I only have a debit card, like most people here, and if I don't have money, I don't buy anything, simple.
@riverdaletales8457
4 жыл бұрын
I use cash 95% of the time , the other 5% I use my debit card for online purchases and for paying my bills
@creditcard7361
4 жыл бұрын
I deeply came across this trustworthy vendor i got my 2 cc from *Ericroboti* on telegram
@petertsilko
3 жыл бұрын
Same in Russia. Banks usually offer a cashback with debit cards so it's a way better to have a debit card here rather than a credit card.
@cryptoranger9524
3 жыл бұрын
In Europe you use a creditcard when there is no other pay option. It's an extra thing like buying something on an American website you would use the creditcard. You have to pay at the end of each month what you bought with the creditcard, Thats how it works in my country
@KittyKat-vb1nd
3 жыл бұрын
Exactly. Americans tend to live on borrowed money which is odd.
@HustlinHorse
5 жыл бұрын
Don't spend what you don't have, simple as that.
@NateOBrien
5 жыл бұрын
Why don't they teach it in school!
@JazminBautista
5 жыл бұрын
Couldn't say it any better!
@pawsnotclaws2772
4 жыл бұрын
Andrew Horstman exactly. What I’ve always done
@kaaajeee
4 жыл бұрын
how about mortgages, business/student loans ...?
@HustlinHorse
4 жыл бұрын
@@kaaajeee those are investments in assets. Usually something you can sell for more than you originally bought it for or use it to make more money than the original investment.
@NateOBrien
5 жыл бұрын
Hi everyone. I was quite hesitant to create this video because I do not want the message to become skewed. Please consider watching the full video before making a judgement as to which payment method fits you best. For a while, I considered telling everyone to avoid credit cards but the truth is I myself use credit cards to make the majority of purchases throughout my everyday life. I have never paid $0.01 in credit card interest. My advice - If you want to use a credit card, you MUST follow these simple rules: Pay your entire credit card bill IN FULL every month. Never run a balance on your card. The day that you cannot afford to pay your credit card bill is the day that you need to cut it into pieces. Track your spending by using a simple budget to ensure that your spending habits do not change. I track my budget on a monthly basis.
@lisbonbrowne8395
5 жыл бұрын
nice video i was the one who commented about graham and your credit card beliefs
@Humour_SBD
5 жыл бұрын
This could make my life so much better I just got a quetion about how you can send 30%of your money To an acount that you use just for Spending on inportant stuff
@JoshuaMackos
5 жыл бұрын
Its very true. Everyone's situation is different. And everyone needs to evaluate what works best for them. Thanks for sharing an honest perspective
@CC-wf7gq
5 жыл бұрын
And if you need help creating a budget and tracking expenses, there’s a bunch of free apps that you can use to link to your account. Like Mint for example, you can link your bank accounts, retirement accounts, and even investment accounts
@myjourney2financialfreedom91
5 жыл бұрын
I do exactly the same
@amyavraam8986
5 жыл бұрын
I can't trust myself with a credit card and I'm way too scared to get into serious debt so I do debit cards that way it's my money and I'm in control I feel much better that way
@candanceelise6599
4 жыл бұрын
Exactly
@ramyan2126
4 жыл бұрын
Your 100% correct
@ramyan2126
4 жыл бұрын
We can do a chargeback on debit card as well, it's the same process as credit card.
@dez8946
4 жыл бұрын
click click banks do reimburse you
@dez8946
4 жыл бұрын
click click what if you don’t like credit cards
@impleno4438
4 жыл бұрын
I use both credit and debit. In the grand scheme of things all a credit card is, is a monthly payment...a payment that if you pay off can make life easier for you in the long run. As far as debit cards go, it’s the mindset of “I’d rather be broke than in debt” which I also respect.
@andreakae4211
5 жыл бұрын
I find that tracking my CC balance day to day gives me a clearer picture of my spending - watching my balance GO UP rather than watching my bank account GO DOWN has a different psychological effect and prevents me from unnecessary spending. Of course I also budget and pay my balance in full every month!
@NateOBrien
5 жыл бұрын
Budgeting is what creates financial success!
@MacklandsMotors
4 жыл бұрын
I only use debit, if I don't have the money here and now, then I'm not buying. Feels like too much pressure to get everything paid on a deadline
@Alexveliz0898
4 жыл бұрын
Mackland's Motors if you have a capital one card, you can set it to pay off automatically. This probably works with other cards. Works well if you’re collecting the rewards!
@creditcard7361
4 жыл бұрын
I deeply came across this trustworthy vendor i got my 2 cc from *Ericroboti* on telegram
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@Cordellium
5 жыл бұрын
"I literally run balance sheets for myself. Is that weird? I don't know." I love this guy. Glad to have discovered you and your work Nate. Big inspiration to see someone younger doing so well and spreading good information.
@NateOBrien
5 жыл бұрын
Thank you Connor
@PureGold197
5 жыл бұрын
I literally saw this comment exactly when he said that on the video 😂
@JazminBautista
5 жыл бұрын
Dave Ramsey’s method is for people who struggle with self-discipline 100%!!! Thank you for the video !!
@michael43567
5 жыл бұрын
it's actually very sensible & I agree with it in the context he says it in. But for those of us that are more disciplined & risk-loving, credit cards are the way to go
@nicebars
5 жыл бұрын
Self-discipline is arguably the most important thing a human being can learn. Therefore I totally believe credit cards are the right way to go in the end, as long as you have developed some form of discipline beforehand
@vacationboyvideos
5 жыл бұрын
I have 34 credit cards, about 120 grand in total credit (on all cards combined) and I live on a 960 SSDI check. Here is the kikcer...my Dept on the cards I pay off every month and not once paid 1¢ interest in my whole life! Dave Ramsey is for people who can't grow up
@ExquisiteBossin
5 жыл бұрын
100% CORRECT!
@ozc3731
5 жыл бұрын
@@vacationboyvideos how did you start it off? I'm currently on ssdi as well.
@ChrisInvests
5 жыл бұрын
Dave Ramsey has left the chat 😂
@everythingbyjohn
5 жыл бұрын
Chris Invests - Personal Finance Videos 😂
@JCam151
5 жыл бұрын
The kid has a lot to learn but he's got a great head on his shoulders and a promising future for sure
@patricksloan439
5 жыл бұрын
@@JCam151 So what is the problem with his advice? Seems pretty sensible to me.
@jessieurena7583
5 жыл бұрын
He's an idiot
@granitemoss1451
5 жыл бұрын
@@jessieurena7583 So stop watching him, then. Or don't, because your watches, even hateful ones, and comments, even nasty ones, help him out so....keep up the good work!
@JanSanono
4 жыл бұрын
Important to note: a credit score might not be as important in your country as it is in others
@isaacbosca
4 жыл бұрын
Totally agree. I think they does not even exists in my country.
@riverdaletales8457
4 жыл бұрын
I use cash 95% of the time , the other 5% I use my debit card for online purchases and for paying my bills
@ughnotuagainughnotuagain4275
3 жыл бұрын
Right, in the Netherlands you can only get point which you can use to "buy" discounts for stuff. It also has no influence in getting a mortgage but it does in the UK for example.
@PigSty1985
3 жыл бұрын
Good one. In many countries landlords won't even have access to their tenants' financial records like credit score. That's wayyy too intrusive
@FreeHat_
2 жыл бұрын
A credit score is some flawed American system.
@larrywoodruff7530
5 жыл бұрын
Credit cards are fine, just pay them off every month, ain't rocket science.
@MrGiggity890
4 жыл бұрын
Uh no, just only use zero percent cards, that way it doesn’t hurt to carry a balance :)
@steve00alt70
4 жыл бұрын
iv never understood why people pay of credit cards.
@MrGiggity890
4 жыл бұрын
Optic500 pay off? Because the interest rates are high. Unless they’re zero percent cards, it’s really dumb to carry high interest balances.
@elganpowell9552
4 жыл бұрын
MrGiggity890 yeah but then you rack up debt which you have to eventually pay off duhhhh 🤦🏼♂️🤦🏼♂️
@MrGiggity890
4 жыл бұрын
Elgan Powell wut
@PenniesNotPerfection
5 жыл бұрын
I use a mix of credit cards and cash. It works well for still getting points/benefits but controlling the areas of spending where I struggle with overspending.
@ladygypsysoul122
4 жыл бұрын
I just have debit card. And I am fine with it. Credit card scare me when I heard people has debt of $30,000 or $40,000 due to using Credit card. Thanks but no thanks. It's a No-no for me on using credit card.
@garyhall6294
4 жыл бұрын
Same here. I've never had a security/fraud issue with my bank debit card.
@certifiedlover2748
4 жыл бұрын
Gary Hall exactly just be smart, to not give out personal information, I ave a debt card, it’s way better and it’s your money that you are spending.
@monicagambino318
3 ай бұрын
Same
@erichimmelheber
5 жыл бұрын
Ay, man. New to your channel. I'm definitely learning a lot. It's not flashy. Not over the top. You're straight up honest with how stuff works and how it doesn't. Love it. Keep it up
@NateOBrien
5 жыл бұрын
Thank you Eric
@remmiellis
5 жыл бұрын
Eric Himmelheber wait til you see his yellow dividend shirt! You’re in for a treat!
@nicola-socialmediasuccess8687
5 жыл бұрын
Using cash I feel more my expenses and I don't do dumb purchases💪
@tuck582
5 жыл бұрын
Same here. Can't just swipe.
@robocop581
5 жыл бұрын
You are a smart person. Keep it up. You totally get it.
@JazminBautista
5 жыл бұрын
I use that method when I am trying to save up or purchase something I do not need!
@robocop581
5 жыл бұрын
@@KrazyVideoChick That means you're using your Debit card which is pretty much like cash
@slyrider44
4 жыл бұрын
This is a great idea as it can definitely feel more difficult to hand over the cash as opposed to swiping a card.
@sujoudza14
4 жыл бұрын
Damn why he have to come for Art History majors like that 😂💀
@rickinseawa
4 жыл бұрын
I stumbled across your KZitem channel a couple of days ago and have learned a lot. I'm 60 years old, make a decent living, but have never, ever, bothered to track my daily spending. This past weekend, I created a spreadsheet and tracked my spending habits from the past six months and was shocked at how much money I frivolously spend on Starbucks, Amazon, and entertainment. So thank you for opening my eyes and helping me be more financially aware. BTW: I love your channel's content.
@SeanLei
5 жыл бұрын
Went *cashless and debitless* for the past couple of years and it's been great. Taking full advantage of credit card sign-up bonuses, the protection against fraudulent activity and upping my credit score!
@NateOBrien
5 жыл бұрын
Just be careful! Good luck
@joelmiller2601
5 жыл бұрын
Isn’t it just one signup bonus per credt card? How are you taking advantage of “bonuses”? do you have multiple?
@SeanLei
5 жыл бұрын
@@joelmiller2601 yes that's right, one bonus per card. In the span of one year you can obtain multiple cards easily (with good credit)
@sta9706
4 жыл бұрын
I read the first sentence and thought you'd say you grew your own food 😂
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@NickPeitsch
5 жыл бұрын
Credit is basically ALWAYS the best way to go. That is... if you can control your spending! Great video Nate!
@NateOBrien
5 жыл бұрын
The only problem: 90% of people can't control their spending... (Not the viewers of this channel though!)
@JazminBautista
5 жыл бұрын
It all comes down to self-awareness!!!
@nickvaughnjones3750
5 жыл бұрын
You’re 100% right it’s not a one size fits all thing. Some people are in the unfortunate situation where they HAVE to use credit cards even though they carry debt. You definitely have to be responsible and very diligent to use the strategies your suggesting, otherwise you could get into some trouble. Great video Nate👍🏾
@driver8703
5 жыл бұрын
I’m on Graham’s side, I never use a debt card and very rarely use cash anymore. But to make it work you must always pay off the statement balance in full at the end of the month and make the connection in your mind that if you use a credit card you must have the money to pay for what you buy.
@LotusDana
4 жыл бұрын
One of the best decisions I ever made was to cut up the credit cards. With a credit card it felt like i had all this money at my disposal but with a debit card I know i don't. Now every purchase I make is thought about more carefully before buying.
@markvaio5201
2 жыл бұрын
Exactly 💯
@WhiteBoardFinance
5 жыл бұрын
Debit Cards are an easy way for someone to get direct access to your checking accnt
@katielo.8451
4 жыл бұрын
Nah. Not with chip and pin. Oh wait, US doesn't really have those yet... damn
@wickedryan5222
4 жыл бұрын
@@katielo.8451 sike I just got my debbit and it has pin and chip were converting to it slowly but surely
@loadingsolate
3 жыл бұрын
There is no money in my account so :)
@stefanhaagedoorn3690
3 жыл бұрын
Sure, if you don't have a pincode. Which everyone has in Europe. Even pinless purchases have relatively low maximums.
@evw5536
3 жыл бұрын
@@katielo.8451 We do, It can still get compromised lmfao
@chrisglaze1410
5 жыл бұрын
For me I personally try to put as much on my credit card for the points and building credit, but since I only have a $1,000 limit I only go up to 200-300 dollars per month on it and the rest is debit card. I want to get to the point where I have enough credit to put all my monthly expenses on it.
@lotto5742
5 жыл бұрын
Why only $200-$300 if you have a $1000 limit?
@TimRoseOfficial
5 жыл бұрын
Great tips Chris!
@DamonLeeK
5 жыл бұрын
@@lotto5742 If you use less of the credit available you are showing the cc company/banks that you can deal with credit responsibly and not use it all up. That is what I am doing to build credit. It is called credit utilization ratio and it is good to have it below 30%.
@banj4249
5 жыл бұрын
you can pay your cc more than once a month
@amandanicole7449
5 жыл бұрын
Pay it off multiple times a month...
@sanoski24
5 жыл бұрын
I definitely say use a credit card if you can manage your money effectively and efficiently. Don't be irresponsible and go into credit card debt. It is completely unavoidable and up to the specific person's choices! Great video.
@NateOBrien
5 жыл бұрын
The key is to keep a budget
@AnonymOus-dp3jj
5 жыл бұрын
Credit card= stay under 6% utilization or 10 % of the total amount on the card you be good
@Drumandbass926
4 жыл бұрын
I’m using credit cards primarily right now to leverage my credit score so I can scale my Ecom business
@brucejones1962
4 жыл бұрын
trufiend138 Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@kikayei
5 ай бұрын
I use cash when paying up front. I use my credit card when paying online. I use my debit card only when I need emergency cash from my bank atm. Always keep your credit/debit card in an RFID blocking sleeve.
@eksiandsetoahmet2227
Жыл бұрын
Credit score is not something used in all countries though. In France, they determine if you are eligible to get a loan (e.g., to buy a house) based on the ratio between your salary, your expenses and your savings. Basically, if every month you 'burn' all your money, you're perceived as riskier than someone earning less but consistently making deposits to a saving account. I feel in the US people tend to buy things they don't need with money they don't have... The only times I feel one should need a credit is when buying 'big' things (house, car, etc.). Not for a TV. I’m 26 with over 800 credit score, time was put into that to build it up by COGNITIVEHACKS
@gracemarie983
5 жыл бұрын
I had $20,000 in credit card debt 13 years ago because I was buying things I didn’t need. I saw it as money and not borrowed money. After that I swore off credit cards for quite a bit of time and just got a reward credit card again last year. Credit cards are the way to go if you’re financially responsible. I use my credit card for bills/groceries/etc basically everything I would use my debit card for anyway and I get rewards. I do pay my card off twice a month and keep it current. I also do have an emergency fund so I can pay back my credit card when they come up.
@NateOBrien
5 жыл бұрын
Hi Grace, I think credit cards are something that people should avoid until they have a solid grasp on their finances. I’m glad to see that you are going in the right direction
@cjack202003
5 жыл бұрын
Good job Grace. There's no need to pay it off twice a month though. Just wait until the statement is cut or pay it off by the due date. You just have to track it once a month. If you want to keep paying twice a month, that's fine...but, there's no need to. Once a month is fine.
@gracemarie983
5 жыл бұрын
cjack202003 I put a lot on the card so I prefer to pay every payday vs one huge payment. Also I have a joint checking account with my husband so I don’t have to worry about the money being spent. I also have scheduled my mortgage payments where I pay 1/2 the payment every payday. It makes our finances worry-free for us.
@jojo-fj7lw
3 жыл бұрын
Might follow what you did Grace👍 but where do you deposit your emergency fund? And how can you transfer to pay off your credit card?
@grace.majeed
3 жыл бұрын
@@jojo-fj7lw I have a savings account for my emergency fund. To pay my credit card I just transfer it directly from my checking account.
@nunuzoldyck1231
5 жыл бұрын
I love how you approached this topic by mentioning differing opinions.
@AverageJoeInvestor
5 жыл бұрын
*GREAT VIDEO NATE* Don’t let Dave Ramsey know you made this video, LOL! There are definitely benefits to using a credit card vs. a debit card, but the real important thing you MUST DO is have a budget and make sure that your budget ALWAYS WINS. That is what I teach on my own channel. Do this and you will win. GREAT VIDEO NATE! 😎👍🏻
@NateOBrien
5 жыл бұрын
Budgeting is key
@AverageJoeInvestor
5 жыл бұрын
Nate O'Brien yep! If you don’t budget, you will lose with BOTH DEBIT and CREDIT! 👌
@Terry-Oppong-RN
5 жыл бұрын
I haven't used a debit card for purchases apart from my barber and rent in about 5years. I do credit card always and pay them off at the end of the month, A credit line of 15,000 and use about 1000 a month.
@collinsilvers
4 жыл бұрын
My dude deserves WAYYYY more subs!! Let’s get him to 1M!!
@pyrodoxnx3312
3 жыл бұрын
Done
@turmeric6928
4 жыл бұрын
I hate when I’m reading comments then a stupid ad scrolls me to the top 😒
@kenlynch6332
5 жыл бұрын
Have used credit a credit card since its inception (I was actual living BC {before credit cards}) and I use the points exclusively for air fares. 💵 💵 💵 💵 💵
@NateOBrien
5 жыл бұрын
Ken! You are the man! Appreciate the comment. Cards have really come a long way over the years
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@anastasia4001
5 жыл бұрын
I've been using mainly credit cards since discovering your channel. Helped me so much as I just started working. You are amazing. Don't let any mean comments tell you otherwise.
@NateOBrien
5 жыл бұрын
Thank you Beth. Comments like yours convince me to keep making videos
@hudsonmegeath2677
5 жыл бұрын
can we get an apartment tour please 🙏 , but besides that nice video
@NateOBrien
5 жыл бұрын
It’s coming! I ha e a few more things to set up
@hudsonmegeath2677
5 жыл бұрын
Nate O'Brien yessss
@RealHealthyGuidance
5 жыл бұрын
He is living in a closet. What is there to see?
@markfox566
3 жыл бұрын
@@RealHealthyGuidance part of being a minimalist
@clvn9ja
5 жыл бұрын
I paid off debt following Dave Ramsey but also use my credit card for the cash back reward. Imagine spending $700 and getting $7 back as opposed to using your debit card and getting nothing. I do pay mine off almost immediately if not before I make the purchase with the credit card.
@Rob-te5ct
4 жыл бұрын
You pay the credit card at the same time you use it?
@timhershel2940
4 жыл бұрын
There are plenty of no fee 2% cards. You could easily be getting $14 back actually or even more.
@dreamwolf7302
5 жыл бұрын
i stopped using cash after getting robbed for the third time. I also started conceal carry after, but better safe than sorry. If someone steals my debit card, i can cancel it before they are able to use. Cant cancel cash... As for credit cards...havent had one of those since i had three of them change their supposedly fixed interest without notifying me, going from 18.99% interest, to 22.66, 25.99, and the worst one, 29.99% interest... I trust Congress more than i trust credit card companies these days...
@zzzppp1770
5 жыл бұрын
I like your thinking wolfy
@RealHealthyGuidance
5 жыл бұрын
Only old ppl and criminals use cash
@dreamwolf7302
5 жыл бұрын
@@RealHealthyGuidance not quite true, i still refer using cash to pay my electric and cable bills, because getting double and triple charged for 1 month, and then spending 4 months fighting to get the wrongly taken money back is a pain in the ASS.
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@stall1on300
5 жыл бұрын
Never stop making these vids plsss
@NateOBrien
5 жыл бұрын
I won’t
@thequizzicalreader141
5 жыл бұрын
Can you make a video on credit card bonuses ? I consider myself a responsible credit card owner and I love love to hear your tips !
@JazminBautista
5 жыл бұрын
What company do you use? You can always talk to them of the benefits that comes with it
@ДмитрийМелихов-к2в
4 жыл бұрын
I have debit card with 1% cashback and it's awesome. Also I can choose up to 3 categories with increased cashback. So I prefer using debit card.
@garyhall6294
4 жыл бұрын
Same here.
@joe_zupko
5 жыл бұрын
I've never had any issues using a credit, I use it in emergency situations and to reap the rewards benefits. Using plastic definitely causes me to spend more though because cost becomes a nonissue. Not much, but maybe a couple snacks/eating out here and there
@clvn9ja
5 жыл бұрын
Not an expert but you probably wanna save up your emergency fund instead of using the credit card as your emergency fund. 17% interest ain't no joke.
@joe_zupko
5 жыл бұрын
@@clvn9ja I definitely agree about the emergency fund, but I haven't had any issues using it so far. It's basically like a debit card (to me) with no over draft fees, just gotta get down to $0 before the next billing cycle. The way I see it, I might as well get extra money for all my regular purchases if I can
@aerashaimasen
5 жыл бұрын
You're so smart! i honestly don't like the concept of credit cards, my family had a bad history of it, but you change that perspective for me, great video!!!
@JazminBautista
5 жыл бұрын
Shai keep looking for knowledge and you'll soon be in the position that will make you financially free!!
@darkmoon669
Жыл бұрын
Credit scores are just a form of federal control, so if you want to continue living a good life? it’s important to have a high score. My house and vehicles are paid off, I have one Visa card for all purchases, which gives me air miles, and I pay it off monthly, but my score bounces between 800 and 820 without changing any of my patterns, so it’s manipulated for some reason. COGNITIVEHACKS made it stay at that range and getting it up
@marymenas
5 жыл бұрын
Nate, can you make a video of how to take advantage of credit cards? like to getting miles? THANKS
@NateOBrien
5 жыл бұрын
I will do this! Stay tuned
@marymenas
5 жыл бұрын
@Dream FI Thanks for taking the time to explain this. I just want to know the tricks some people do to outsmart the Credit Card companies / Banks. I happen to love the feeling of not being fooled or tricked by those companies.
@tannerstull6490
5 жыл бұрын
Marisol Mena they're a scam, don't bother
@JazminBautista
5 жыл бұрын
You should look up Graham Stephan he talks about his process!
@Νικόλαοςαἰσθητικός
5 жыл бұрын
Look up Graham Stephan’s channel and Ask Sebby-he goes into detail on how to maximize credit cards rewards/points for travel and always advises not to carry a balance!
@chrismurphy6042
4 жыл бұрын
Your points are valid but a lot of people including myself get carried away with credit cards and can't pay back on time and get themselves into loads of debt
@PhillyLFC
5 жыл бұрын
You forgot to mention if somebody steals your debt card and wants get cash out they’re gonna need a PIN number to do so even if they go to that bank, the teller asks for information that only you would know. At least that’s how my bank works.
@gabrielcousineau5020
4 жыл бұрын
The could still use it for online payments
@valentinmitchell1087
Жыл бұрын
For the first time after about a year I fully understand how credit/debit cards work i had to subscribe🔥
@ayeshiawyatt8654
5 жыл бұрын
Car insurance companies use a credit score as well to determine insurance cost. Ask me how I know 😂😂😂😂
@davidmckenzie4977
4 жыл бұрын
Ok I'll bite...how do you know?
@jamesmorrison5562
4 жыл бұрын
I pay mine off yearly and I have no credit I only use the money I make. Simple
@drewbizdev
4 жыл бұрын
Love the video Nate! Dave Ramsey deals with totally irresponsible people who are in serious debt with credit cards. Kinda makes him look like he hates them, but I did see a video where he was teaching fiscal responsibility and said, make sure you have the cash backing you to pay off large balances in order to avoid interest. Keep up the good work!
@LearnGermanwithMarzipanfrau
4 жыл бұрын
I do use credit cards of grocery stores. At the end of the month I get cash back and can use it for more food.
@zeljosarajevic
4 жыл бұрын
My grandparents lived minimalist life all their life, maybe in 60's it was easier couse you generally didn't have much to buy, but they managed to school their kids to college, build a house, build a weekend house and buy 4 brand new cars in span of 60 years by not taking loan or any kind of mortgage and he had a number of savings accounts. My grandfather had a degree in economics and psychology and that was his thing, same stuff you show in your videos. What I've learned from him is that economics are the core basics in life and I'm grateful he lived long enough to teach me that. His way was similar to yours, he would divide his paycheck in different "storings", first will go to utilities, second will go to savings account, third will go to household account (basically from this one they would buy large household necessities like a car or TV or washing machine - they were expensive at the time) fourth will go to education and kids, fifth will go to food and last one for leisure. Fifth one is the most beneficial for me. They would usually divide grocery shopping in three stages - first one happens every 5-6 months, in that one you basically buy what can stay that long, like, flour, sugar, salt, oil, macaroni, oaths, vinegar, you know, stuff you use on daily basis over and over again for every meal you cook (i'm talking about 200 kg of flour for example), second one is monthly shopping, this is for stuff you need, but not every day, but can still last pretty long, and you use it in span of 1-4 months, so this one is a filler, you just buy what you don't have on it's list, such as honey, meat and fish (they will usually buy few chickens and freeze them, or a whole lamb), veggies that grow underground, alcohol and coffee etc.. Third one is weekly shopping, this one occurs every sunday and it consists of stuff you need for next week and that go bad quickly, dairy, eggs, veggies, sweets etc. My grandma would always run this list couse she was housekeeper and she would cook 3 meals a day. They never bought any processed food (rarely even bought cans) and this way they managed to save almost a paycheck and a half per year only on food, but they never dine at restaurants if there is food in house (spec occasions of course). And your video about grocery shopping is great, but If you do it smart, like my grandparents did, you can still buy in wholesale markets and save money but don't get into buying 8 month stock of cream for example...
@lordstanleyjr2015
4 жыл бұрын
I havent used a credit card in years & i still have a high credit score.
@michaelamelton-berry5403
3 жыл бұрын
I learned I needed a credit score when we couldn’t get a home loan. 🙃 And then I learned that length of credit history matters almost as much as the score itself. So now I have a credit card (paid off every month).
@jtalexandre
4 жыл бұрын
Thanks for the video. I would probably use much more frequently a credit card if I lived in the US. In Europe “credit score” does not mean anything.
@hellosaysandrew
4 ай бұрын
You do pay money for flights because you spend an absurd amount of money on that card over time, holy moly. Nothing is free in this world. I like Nate a lot and his videos. I do like that he tried to present both sides of this though.
@daricej9753
5 жыл бұрын
Credit works for us, when I swipe I immediately and now I owe someone. I never spend more than I have in checking. .
@NateOBrien
5 жыл бұрын
Works for me too!
@carlomac9547
4 жыл бұрын
Great video. kudos on laying down the pros and cons of both sides: Using a debit card or a credit card, against not using one or the other. There are definitely benefits and liabilities on how you ise them, you just have to find your balance.
@thebonanzapodcast4899
5 жыл бұрын
Great advice Nate! We have a business podcast located in Sacramento, if you are ever in the area we would love to have you as a guest!
@cat-lw6kq
4 жыл бұрын
FYI debit cards are safe I have test messages sent to me overtime I use it. I can then call and cancel the card at anytime. Another thing you can do is to have an additional card that you only kept say $300 on it for when you go shopping in case it's stolen. If it's lost you can then transfer money to your other card, you don't have to wait for a new one sent to you.
@dreampaw8658
5 жыл бұрын
I love using debit card but sometimes when you don’t use your money in the but they say it overdraft protection.
@amanraghuwanshi1960
2 жыл бұрын
5:25 here in india it follows otp system when we purchase something online it requires a otp to be entered, i'was shocked when i got to know that us cards doesn't require any otp anyone and use it
@AdamUPNow
5 жыл бұрын
I like hearing all the point of views of a subject. Thanks.
@NateOBrien
5 жыл бұрын
Thanks Adam
@YESHAYA_
4 жыл бұрын
when you are single: you don't need a debt card guys. use credit card when you finally grow up and become a mature man with wife and kids: cut off your credit cards and look for financial independence and never let anyone tell you how you should live your financial life (regarding companies like visa, master card, american express and so on)
@angeljaimes9703
4 жыл бұрын
Credit cards dont dictate your life at all. In fact, credit cards give you more financial freedom as they allow you to leverage your money
@YESHAYA_
4 жыл бұрын
If it has a loan, it’s not your money
@angeljaimes9703
4 жыл бұрын
@@YESHAYA_ duh, thats obvious. Just use someone else's money to make your OWN money. Its like asking your neighbor if you can borrow their screwdriver, using it to fix your own things, then giving it back
@timhershel2940
4 жыл бұрын
Visa and MasterCard don’t lend anyone any money. They are not banks. American Express is a charge card if you don’t pay they close your account. Not a bank either. You clearly don’t know much about credit cards.
@jont2576
4 жыл бұрын
@@angeljaimes9703 I don't think most of the average population knows how to "leverage" their money.....or even understand the concept at all which is why credit cards are a time bomb in their hands. And the interest rates credit card charges.......unless u are some kind of small business that pay off ur debts on time every month.
@will-financialliteracy-fin9369
5 жыл бұрын
Taking a credit card out early set me up for credit usage later. I get about $800 back a year from cash back now.
@NateOBrien
5 жыл бұрын
Great to hear!
@will-financialliteracy-fin9369
5 жыл бұрын
@@NateOBrien good video! Don't be scared to let everyone know the best way to do something. I point out that if they can't manage it, then it might not be for them, but that it is the most optimal way to use the resources at our disposal.
@roricarr
5 жыл бұрын
@@will-financialliteracy-fin9369 which credit cards would you recommend, mate? Cheers;)
@will-financialliteracy-fin9369
5 жыл бұрын
@@roricarr so the two best ones I have right now are both from AMEX but I don't think I can link them without getting flagged for spam. I just need to hurry up and make my cash back video I guess...
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@peanutdesi1668
4 жыл бұрын
I only have 1 credit card with a 300 credit limit. So debit cards and a little credit for now until I get more credit history! Can’t wait to apply for more credit cards after building my credit history.
@michael43567
5 жыл бұрын
From what I've heard, Dave Ramsey is against credit cards for the majority of people because it's statistically proven that we tend to over-spend when paying with cards as opposed cash.
@jwho4273
5 жыл бұрын
Also Dave Ramsey's target audience tends to be folks who have fallen under debt due to credit cards and the only way out is to cut it up.
@michael43567
5 жыл бұрын
@@jwho4273 which's understandable. But I don't like the fact that he's so narrow minded on debt (good debt) and credit cards. I'm much more on the side of Graham Stephan who says credit cards are a good tool if you use them correctly
@jwho4273
5 жыл бұрын
@@michael43567 I feel like its one of those cases where a well known figure makes a statement ("credit cards are bad and will put you in debt") and has gotten known for this statement that it's hard to back out. I wouldn't be surprised if he uses a cc in secret. But you're right, this does spread the narrative that all debt is bad and it's too bad most of his followers aren't branching out and looking for alt.
@earthsteward9
4 жыл бұрын
I have two debit cards: one for my main account where I get my salary and pay rent, insurance, and utilities. The other is a Mastercard debit card that I use for online payments and shopping in stores
@abrahimmuthana5151
4 жыл бұрын
Do u pay monthly fees for ur debit card?
@markvaio5201
2 жыл бұрын
That's how to do it 👍
@yacokseversen1
Жыл бұрын
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but COGNITIVEHACKS info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
@DamonLeeK
5 жыл бұрын
How you pay is almost as important as how much you pay!
@historylvr8000
4 жыл бұрын
Great advice and you explain everything in a very concise manner, no financial mumbo jumbo! Thank you this was very informative and enjoyable. You got yourself a new subscriber...best YT recommendation!
@michael43567
5 жыл бұрын
I feel like Dave Ramsey is very knowledgeable, but his ideologies are a bit outdated. He's completely against debt (even good debt). He recommends saving hundreds of thousands then paying for your house with cash. That's completely unrealistic for most of us. I feel like he's too risk averse. I'm much more on the side of Graham Stephan who says credit cards and debt (good debt) are tools that you can use to you're benefit if you're financially intelligent. But I listen to a lot of different finance/entrepreneur/business/investment type youtubers to gain as much knowledge as possible, whether I agree or disagree with their stances.
@JazminBautista
5 жыл бұрын
One of the things that I have learned to do is exactly what you just said, taking a piece of every person who has knowledge and create my own empire. Every person has their own input in how to be financially free, and its up to you to be able to develop your own wealth.
@michael43567
5 жыл бұрын
@@JazminBautista yep no 1 person has all the answers
@Nico-zw9ud
5 жыл бұрын
No debt is good dumb dumb.
@jimmyking92
5 жыл бұрын
@@Nico-zw9ud Many people who created companies or shops and are now well off borrowed money to begin. Debt isn't always the devil.
@Nico-zw9ud
5 жыл бұрын
@@jimmyking92 Mention one that did that.
@orangeblossom7748
3 жыл бұрын
I actually liked this someone who finally encourages debit cards if thats more suitable simply. Thank you for also explaining the con of a debit card.
@shivanishastri4285
5 жыл бұрын
“Cash diet” lol You say exactly what my parents told me
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@fredswartley9778
4 жыл бұрын
Excellent video! Your view of credit cards is very balanced and level headed. Credit cards are very dangerous, but they do have some benefits too. I agree that having a credit card should depend on your financial situation and ability to handle it responsibly.
@AlexMC333
5 жыл бұрын
I use a credit card with pre-authorized full payment on the day the credit card is due. I've never paid interests and knowing that the full payment will come out of my bank account helps me use my credit card wisely
@MimiNwabuokuMD
5 жыл бұрын
Alexis Which card is this, sounds like a good idea.
@Fast58Eddie
4 жыл бұрын
Nate, It is amazing how much you know at your young age. I am 62 years old and when I was your age I had no clue about what you are talking about in this video. I off course have over the years learned the lessons that you are trying to teach in this video. I hope that young people pay attention to the message you are delivering in this video. I suspect that you will be very successful in your finances in the years to come. Great video, thank you for putting it out!
@tonydarcy7475
4 жыл бұрын
I usually use my debit card as I get 2% cash back on in store purchases which is better than any credit card I’m aware of (in Australia). I am always looking for a better deal though so I don’t mind switching to a credit card and/or a different bank if the incentives are better, I just haven’t found anything better yet.
@mauntaxthelegend3188
4 жыл бұрын
5:37 that's why there's 3d verification and you can freeze your card from your phone
@StrategyMaster17
5 жыл бұрын
I use credit cards for most payments. As long as you pay off the balance every month there isnt going to be any interest charges and you can rack up extra money through rewards. The key is to know how much money you have and know your income. Dont spend more than you make. Think of a credit card only as a convenient way to carry your money, but not as a substitute for your money.
@KaileeWalters
5 жыл бұрын
I think we're about the same age but you're definitely more of adult than I am hahaha
@NateOBrien
5 жыл бұрын
I'm feeling old. I'm already 21
@KaileeWalters
5 жыл бұрын
@@NateOBrien Okay we are the same age. I'm feeling underprepared
@JazminBautista
5 жыл бұрын
We all mature differently !!!
@user-ww6ii6zn8m
5 жыл бұрын
@@KaileeWalters Everyone starts somewhere. Lots of people don't even think about this stuff until their late 20s/ early 30s, I'd say you're probably ahead of the curve
@jaredvalisno7762
4 жыл бұрын
@@user-ww6ii6zn8m lol shame im 16
@datgravygreen
4 жыл бұрын
Your advice has assisted me greatly, thanks Nate!
@ninjaslash52_98
4 жыл бұрын
Credit cards are for emergencies and building credit Debit cards are for when you want to keep your money in the bank and not on your person I use the debit card to pay off the credit card
@jayjay2167
4 жыл бұрын
Ninjaslash52 _ u can do that ??
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@RedPanda555
4 жыл бұрын
I don’t understand how people end up paying interest on a credit card? Just make sure you can always pay your balance in full each month and have some self control.
@hatchingdraggon8073
5 жыл бұрын
Sucks that as an 18 year old I'm stuck with my no-benefits credit building card. I imagine it'll take a while before I start seeing any real benefits, but I'm sure it's worth it.
@NateOBrien
5 жыл бұрын
Just make sue you pay it off in full!
@DamonLeeK
5 жыл бұрын
Good luck!
@JazminBautista
5 жыл бұрын
It will all come in time !! Keep your head up!
@candy2325
4 жыл бұрын
hatching draggon your young! Your time will come! I’m 30 and I had my credit card for 10 years and just got a credit line increase and I’m earning cash back.
@vidjock
4 жыл бұрын
I switched to using my credit card to help raise my credit score, thanks for the insight!
@thirteenwolfies
5 жыл бұрын
Congratulations on your new apartment!
@NateOBrien
5 жыл бұрын
Thank you!
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@dathyr1
2 жыл бұрын
Thanks for all the info. I can and always pay off my credit card each month since I dont put allot of credit items on the card. Plus I dont buy something with my credit card if I dont have the money in the bank to pay it off end of each month. So I am using it kind of like a Debit card just that it is a delayed payment each month. When i go to get groceries, gas, or out to eat, I always use cash or checks. I have never used a Debit card since I am writing checks when I shop. Same goes with my credit card even though it is better protected, I usually dont carry my credit card out when shopping to also possibly prevent scammers from getting the card number and information. If I do get bonus points or a little cash back is kind of a small bonus using my credit card. All in all this has worked out for me quite well.
@nacholovr
5 жыл бұрын
If you're still using a Debit Card for your purchases, you're falling behind. Personally I prefer to use Credit Cards for everything for various reasons like consumer protection, price protection and extended warranty on purchases, cash back between 2-5% on my biggest expenses, reward rates ranging from 2x-4x Points on purchases (Redemption Value of 2 cents essentially earning 8%), plus I'll have an electronic record of each of my transactions. Fraud protection as Nate mentioned, if your card is skimmed or demagnetized, would you rather lose your money or the banks? Zero liability for fraud saves a lot of time when you can just press a button rather than having to call your bank and wait for your money to be reimbursed, or worse, having to close your checking account if they managed to get that information. Don't carry a balance. High APRs will negate any earnings and make this system inefficient. I''m scratching the surface so I'll stop here, but Credit Cards are very powerful tools in the hands of responsible and disciplined people and can help you build healthy spending habits and credit management skills that will reward you in life. There's a Credit Card for everything out there, do your research and choose one that your current spending habits and patterns would greatly benefit from. You're going to spend the money anyway, so would you rather use a Credit Card and reap the benefits, having protection with each purchase, receiving cash back and rewards for each transaction, building a strong credit history, or use a Debit card leaving you susceptible to fraud and receiving nothing for your expenses? Thanks for this video Nate, very informative. I look forward to the next!
@skyleryarger7751
5 жыл бұрын
You are right but because no matter what or how much you pay off your credit card, you are still debt because credit acts a lot like a loan (because every time you make a purchase its not directly from your own account, its from the bank and they pay it off your account monthly) but I agree with you but I personally don't like credit cards because of a "what if" situation and I don't want to get into a mess personally because I have other aspects of life to focus on instead of financial shenanigans, but I do agree. You seem like a very educated person though.
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@joaograca1
4 жыл бұрын
Cash - Everyday use (food, transportation, (...)); Debit Card - Uncommon purchases (cloths, consumer electronics, (...)); Credit Card - Online shopping. This is how I use the three options!
@derricklamar1681
4 жыл бұрын
João Graça Why not use credit for everything?
@jojo-fj7lw
3 жыл бұрын
@@derricklamar1681 how can we pay off credit card if we don't have debit?
@owenbaillie4556
5 жыл бұрын
Art History dig had me dying
@NateOBrien
5 жыл бұрын
You know it’s true
@qrr857
5 жыл бұрын
@@NateOBrien Hey man, one of my friends got a BA in art history and makes mid six-figures
@Prussian-Ambassador
4 жыл бұрын
I don't know for American customers, but here in Europe debitcards are frequently used. Because of 3 things - The Maestro function enables people to pay with their card in store, restaurants etc, withdraw money from a ATM and transfer money at the same fees as in your own country in 36 countries (SEPA zone) - 0 means 0 --> mostly you can't go below that limit - With the app or computer, you see how much you spent or how much you have left P.S: For the few keyboard warriors among you, keep your opinion for yourself.
@evrythngfinance997
5 жыл бұрын
What the hell I feel like I’ve seen this video already
@pawsnotclaws2772
4 жыл бұрын
I loved that you mentioned graham :D I love his videos
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@lukedstaten
4 жыл бұрын
Graham Stephan uses 13 credit cards
@brucejones1962
4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
@thecapone45
3 жыл бұрын
I don't know... I don't like being on a deadline to make payments... I'm still a debit guy.
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