Author Archives: Mondo Humboldt

Debt is Not the Tool to Prosperity

Terms like, “you have to spend money in order to make money” and statements like, “debt is just a tool to prosperity” are just myths that get people into serious financial trouble. Before the recession hit, people wouldn’t even think about using a prepaid debit card, especially when they could get so much more with their credit card. If we glance back on the nation’s reliance on credit cards we will be able to see how we ended up with a struggling economy. Continue reading

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Gaining Wealth without Using Debt as a Stepping Stone

Wealthy people are known as those who have enough possessions, resources, and assets to be financially comfortable. The term “wealth” is actually a relative concept had have different meanings across societies and cultures. Here in the United States getting “rich” has become the top goal for many living here. Getting “rich” meaning having more than just what you need to survive but also be able to afford all the things you want and don’t necessarily need. This is very hard to achieve for those who start with nothing. The idea of debt is easily sold as a stepping stone to getting “rich”. The fact is most people will just end up in a heap of debt instead of getting “rich” and possibly end up worse than they started. There are ways to build wealth safely without using debt. For example using prepaid money cards instead of credit cards is a much more sensible way to spend. Continue reading

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