Credit Cards - Bert Robinson & Kevin Beers

Bert & Kevin - “Survival Mode”

IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow or exit a business. GROW WITH US.

INTRODUCTION
Credit Cards - Credit cards are the single most destructive force in marriages AND many businesses. Few people see them as a danger and live as though they are kings on a pauper’s salary.

Show Objectives - The Why

Credit cards have made too many things in life “free”, meaning if we can’t afford something, we simply use a credit card to pay for it. How we eventually pay for those items will just wait to get figured out later.

Key Issues - Owner Perspective:

Speaking from experience, most people don’t think twice about using credit cards in purchasing both business and personal items. It is too “easy” to buy the latest shiny object, even if we don’t have the money for it. In our personal lives, perhaps it’s because everyone else is doing it. In business, “it would make things easier”, or at least that’s how we justify it. But if your business needs it, shouldn’t you just buy it?

What You Need to Know - The What

While no one who starts a business plans on misusing their credit, it just sort of happens for so many different reasons. And trust me, ALL those reasons sound good!
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Too many people are focused on the “here and now” of business and life, and not thinking about the future. But solving TODAY’s problem is at hand. The future can be worried about later.

What You Need to Do - The How

• Consider how misusing credit today will affect your ability to obtain additional credit tomorrow.
• When solving problems, take credit off the table for a moment and consider more creative ways of solving them, if the credit were not available to you.
• Know ahead of time what credit your business (or personal life) has available if needed. 

Shows 

• Next: Financial Principles -  What are the “rules” of the financial game we are all playing?

If you don’t know basic principles on how money works, how do you ever make a good decision about it?

Resources:

You can connect with Bert or Kevin at survivalmodewd@gmail.com

Our weekly podcast can be found on YouTube at https://www.youtube.com/channel/UCsGA2egb0ZepGfxnF3DtpLA


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