How BUYING Things With CASH Will Keep You POOR 

Your son's lucky to have such a solid parent lookin out for him. High five!

@@snotrohmitabc123 He's better than I ever could be. He deserves what he's earned. Thank you.

Bingo! Always has been king

cash is king only when you have escobar levels of cash

so any successful business according to your logic are irresponsible. people who don't know how to leverage debt and credit are the same people who work the hardest for little to nothing. you go ahead and save 50k for 5 years when all I gotta do is go to the fuckin bank today and ask for it and pay it off with cash flow I make.

@@SRTHOOLIGANX Businesses take loans to make investments and increase their production. We're talking about individual people here, I think everybody else got it.

Even people is the USA use loans irresponsibly, just look at colleges lol

People that pay for gas, food and everyday items will simply forget they owe that. Most people will forget they purchased those things because they're such common occurrences. Terrible advice here

whos fault is it if a person interprets advice the wrong way? Take accountability

​@@ren96706Fair enough but you can still criticize flawed advice. If the logic ain't there, it's fair game to point it out

@@ren96706 the responsibility is for the person giving the advice. They are supposed to be the experts and it's their job to make sure everyone understands

@@linger4605if you can't remember to payoff a single credit card you aren't going to make it very far

Exactly myron doesn't know what he's talking about he thinks everyone is a millionaire from social media when it's actually a small portion of millionaires in the USA

That credit card history will count when you want to buy your home or a place of business. He’s not advocating going into debt, he’s saying to use it like you would cash and pay it off. If you’re an idiot with the card, that’s on you for not having discipline. I just buy groceries and other small living expenses with mine, since I was 18, and my credit score is excellent. I can get a mortgage or a business loan easily. This helps me accumulate wealth, not enslave me.

@@AM-ko4pi bought my house cash I guess that's stupid you would rather thousands in interest to a bank

@@AM-ko4pi Most people are idiots with credit cards if you want to build real wealth listen to Dave Ramsey not guys doing a dating podcast

@@greengold6705 it doesn’t make you stupid, but it limits your ability to grow. Using other people’s money can make sure you have multiple properties in only a few years. You can easily outpace loans with income property.

It's great if you're already wealthy. Not if you're barely making ends meet. Like myself.

@@SubvertTheState exactly bro. I fucking HATE when I get my paycheck and I’m like “oh gotta pay credit card bill back” it sucks your liquid cash from you and I fucking hate having to pay them back because it’s like I’m paying today, for last months expenses. It’s stupid as fuck if you make $60K a year or less ….it’s actually retarted. Myron won’t admit or can’t have empathy for how many people get sucked into debt from them. Interest is fucking evil. Pay back at the end of the month with no interest. Yeah sure. But what if something comes up….lol Now you are fucking paying interest on a pizza you got delivered and grocery run from 3 months ago. That is fucking silly. When you are a millionaire like Myron, if you don’t use credit, I agree, that is so silly. We are not all millionaires Myron. Still love ya buddy but, he fails to remember most people live paycheck to paycheck and even people who make 6 figures, with this inflation they literally fucking can’t save. If someone who makes 6 figures can’t save, why would I use a credit card?

If you pay it in full each month, why would you ever pay interest? Oh because you're irresponsible with your money. Which is why you have bad credit. Man's paying interest on his pizza. Here's a trick, put the money in a jar as if you paid in cash. Then at the end of the month deposit that money to ensure you pay it off. If you're that lousy and have no self control when you're broke, what makes you think you will be financially responsible later on? People like you are living paycheck to paycheck because you're living well above your means. You should be saving money every month. Let me say it again, if you are living paycheck to paycheck, you are living beyond your means. Make better financial decisions with your life. Even someone making MINIMUM WAGE should not be living paycheck to paycheck. But they gotta have their 900 iphone, they gotta pay hundreds in cell phone bills every month (I use a tracphone with plenty of minutes/data which will roll over every month and I might spend 40-80 bucks a year). Paid off older car, no car payments. Just like Myron driving his old POS honda for years while making 100k+ as an FBI agent. If you're broke, ride the bus, ride a bicycle to work. Why are you even ordering pizza broke azz. Eat some ramen.

I spend about $2500 every month and have incurred 0% interest every time I pay it off. Wao, amazing how discipline works and instead, you losers are crying like a lil bitch with those lame ass excuses.

@@moonlightreveries1459%100 Correct why would you screw your self with a credit card.

Well neither is any other money free money, unless the interest rate is 0%. You pay for it by producing value. Most people sacrifice their time and life energy to get a little bit of money.

you can literally just spend under your credit limit and pay it back quickly with that same money you already spent, then you the benefits too. Like i have a travel card and I get free flights roundtrip, i dont get how people are seriously paying cash for flights

youre supposed to use a credit card with money you already have. Also you miss out on some credit benefits if you only use cash. Like the other guy said are you seriously gonna pay like $500 - $1000 for a flight in CASH when you can use travel points for free?

You think that way because you use debt to buy liabilities (things that depreciate and cost you money). If you instead buy assets (things that usually appreciate and bring you money), debt is the greatest leverage there is. There's infinite money in the world, and your access to it depends on your ability to produce value with it. If you can do it, banks are more than willing to give you all the money they can.

@@edheldude nah. 1-10 ratio of savings-debt sounds broke as hell no matter how much you twist it. Is there a thin chance those 10k debt will net you double? Id say yes. But if I gather 100 people with 1-10 savings-debt ratio and put them all in a jar, then pick 1 person randomly, that person I picked is probably broke as hell.

Those are scam and human trafficking cash, it's easy to earn and spend.

@@Waterbug1591 That's not how he's earned his hundreds of millions.

​@@edheldudehow did he earned it ?

@@djzrobzombie2813 through business?

The banks don't give you a discount. The stores will add all the credit cards costs to their prices, and the bank just gives you some back.

@@edheldude Well, in my country banks do give a discount. They rotate them every month between different businesses.

Yeah... that's the gamble. If you manage your money right, and use a credit card, you're winning. But there IS such a thing as GOOD debt. (Which the US has a lot of) It's debt that works for you, it's debt that is investing in future dividends. (Like buying a house) I bought my house 3 years ago, and already have $160k in equity. I owe like $340k on it, but that's an example of GOOD debt.

@@SquirrilahFish that's awesome. I think it's important to look at how these banks leverage people's mortgage and property. In the end, these banks and holding companies don't want us to own anything. I would advise to look at agenda 2030 by the WEF. If we don't pay attention then you end up losing everything to big stockholders like blackrock, state street and vanguard. Take a look at it.

@@SquirrilahFishyou’re at half of that considering that it’s inflation that is making homes expensive right now

Exactly correctly. Using credit cards is a dangerous game for most people who don't have the discipline to save money. It's like the predatory car title loans. Very damaging and people end up taking their lives because of debts

@@jasonnelson460 Yes you are correct. Credit is a purely evil system that was designed by evil people to keep the masses in poverty and transfer wealth from the poor to the 1% of people who control all the wealth. Cash is king, always!

He is saying this to just get people into to credit, because it is very important, he always says get passive income, but when you first are starting you dont have passive yet, so you will need to start off where he is saying.

​@@killerv135The number one thing most millionaire's have in common is they paid there house off early. Myron needs to stay in his lane.

You're missing the point.

@@darkhorse5506 My statement is fact if you want to go in debt and pay thousands in interest instead of saving go right ahead

I prefer using cash. Loans seem stressful as hell to me. I agree more with Dave on this one.

Dave Ramsey is a mor0n.

Its smarter to have assets and leverage those instead of using cash which is a depreciating asset

​@@andrewdaviddI have to disagree with this statement. Having cash and using it will hurt you each time you use it. Paying all your dues and only buying what you can afford is key, invest and your good. It's the easiest way to make wealth, but I get Myron thinking it'll only work with some people

@@andrewdavidd Money will never go away. There will always be inflation and deflation but money will always remain. When you use leverage, you still have to pay back loans to the lender.

That’s when I got my first credit card

@@Scars_on_my_nose same I have bad credit

And now you can get yourself into huge debt if you want! Yay?

@@crabbubbles1161 If you're an idiot yeah. That's literally the point of the system. Don't do stupid stuff with your credit or money.

Wealthy people are wealthy because they buy assets that earn them money. Poor people are poor because they buy liabilities that lose money.

@@edheldude well said ed

🎯🎯

Myron's advice is not for dumb people like yourself who spend beyond your means with a credit card. If you're not disciplined enough, learn to be. IMPROVE! Stop with the excuses like a girl.

Or just watch money mondays and be smart with your credit

Correct

That's what I'm aiming for after a couple of investments.

Pay for assets using other people's money, and live free.

@@edheldudeit’s literally that simple bro people don’t get it . They’d rather work hard and save 30k a year then go invest . Just get the money over night and never look back

But then realize that no one trusts you

He did say pay it at the end of the month

Owning a depreciating asset like a truck or car is purely plain dumb which you'll have to pay it off under the burden of compounding interests every month, so stop pretending like you know how finances work. What Myron is telling you to do is employ a systematic payment method to acquire extra benefits (collecting points, building credit score) from said payment method without incurring any interests instead of using cash only with no additional benefits. Get it through your thick skull, rookie.

@@Waterbug1591Owning a car that's a few years old is appreciating in value now because of right to repair. There is a trend and agenda to get you to buy a vehicle still owned by the dealership (predatory lenders) and never allow you to own it. I bought a cheap 1997 ranger that anyone can repair for cheap. There are no payments to worry about. You can worry about your payments and credit score and worry about pleasing the bank. Try being enemy with the bank which means honest living.

Having a good credit score and money saved for emergency are both good.

I’m sure by cash he didn’t mean the literal banknotes. He meant the debit (which can be in your bank account and not in your pocket) vs credit.

Credit cards are the debt trap.

​@@thecrowbar5203nah the mentality is the debt trap

Good luck the day when you're strapped on cash and something comes up. You're falling into the trap credit card companies want. Only buy big or rare purchases on credit, that way you aren't constantly owing. You're expecting everything to always go smoothly by doing that

He wasn't referring to those that are paycheck to paycheck. You're right, someone whom can get themselves in trouble with credit cards should not be using them, especially if you can't pay them off every month.

IRS spotting you☠️

@@GenDominion ATO*

@@GenDominionhe’s in Australia

cash only gets you so far until you start getting into bigger purchases like properties

how does cash save you money when i can get a round trip flight for free simply because I payed my travel card on time? Theres few uses when cash is more useful like your chinese restaraunt example

"bought 10 watches" like an actual idiot when your smartphone has a clock. That immediately tells me you're not smart with money.

@@Waterbug1591 I collect watches. To eaches own....

@@jessegribb1802 Yeah right, more like impulse buying 🤣

It's all a scam! No wonder the second-highest debt for Americans is credit cards!

Yeah credit doesn’t have to be used for absolutely everything but its good to use it for most things that you can pay back easily imo. Its all about being smart

How ??

@@20maxilo I'll give you an example. I went to a furniture store looking for tables. They had a set I liked. They cost $350. I told the guy I wanted them, and he said 'well lets draw you up a contract"; I said, "no, I want to pay cash". He replied, "oh... well just $80 then." Had I 'used credit' - I would have ended up paying $450. - If you go to the doctor and they hand you a 5 grand bill - if you tell them you're paying cash, they'd cut that bill in half. It is absolutely stupid to live off debt. You end up paying 2 to 4 times as much for everything, than that person who has cash. - The only debt that makes sense - is if you have an LLC and are borrowing money to invest; so if it falls through the floor - your LLC can claim bankruptcy, without you losing personal assets. As far as one's personal life goes - debt is dumb.

Of course, my reply is shadow banned. Tell me America is ran by horrible people - without telling me America is ran by horrible people.

All of those people are almost certainly better off in life than you. They have the cash to pay for what you would use credit for, but they don't buy it because they have more control than you do.

Everything he said was bad advice and ignores reality. Particularly rewards being "free money"... No, rewards are the money they *take* from people worse off than you who couldn't pay their own bills that month.

@@UpYourArsenal so what’s your suggestion

@@democratbot1298 I fail to understand your question - what part of my statement was not self expanitory? Credit is bad, your'e robbing people worse off than you or making the bank rich - it's one of the two with zero exception. Banks still understand manual underwriting - just because Myron doesn't, does not mean it isn't true. Credit is bad - the debtor is a slave to the lender.

@@UpYourArsenal ok i I understand but what I was asking is what do you prefer since you said Myron’s advice is bad. What is your advice is what I was asking

@@UpYourArsenal my question was, what is your advice since you think Myron’s advice is bad

I think he means under the assumption you can instantly pay the bill when it comes. You shouldn’t buy things you can’t afford anyways

​@@havoc7730 Even if you can afford to pay it off each month, it has been repeatedly proven that people using credit will spend more than those using cash. There is no feeling of loss when you swipe a card and put it back in your pocket - you *feel* the expense when you hand over cash and don't get it back.