If you bring home $4,000 a month and 24% of it is taken by thieves, you've lost almost $1,000. That's shocking.
What's more shocking, a member of that team of thieves is you.
Wait. You ask how you can steal your own money?
A recent ABC news story tells of a family who discovered that they had thieves that took 24% of their income in one month. Costing them $1,800 a month.
Seems the thieves were their own habits and their credit cards.
Touting the ease at which transactions can be done, credit card companies and retailers have teamed together help you leave your money at their establishment and in their care.
Marissa and Philip Farhat agreed to go credit cardless. They sliced, diced, chopped, minced and performed other sadistic methods to kill their cards and their card spending habits.
Was it easy? Not always. Spending was limited to cash on hand. A trip to the gas station required setting up the dispensing and later coming back to settle up. That is quite a pain.
But not having unlimited access to funds, the Farhat's found that they really didn't need that dress or shirt. Stopping by the store and making an impulse buy literally stopped. Why go in the store when you can't buy anything?
And they discovered, they simply could live without the stuff.
The Farhat's didn't go totally cardless. They did save one card and put it on ice during the experiment. And they have defrosted it, agreeing they would only use it for gasoline purchases.
But having a $4000 dollar a month take home and having an extra $1000 per month by spending wisely allows you to save or invest the difference.
You can see the video report there by clicking here.
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