Cash & Coupons!

I am not rich, I am not wealthy.  I have sat on the doorstep of “well off”, and then realized that the game is rigged in time to get out of the rat race.  Unfortunately, a few people I care about don’t believe me, so I decided to put pen to paper and map out why it looks like I have more money than I actually do, and how I have managed to have more money than I need, without being rich or poor!

I say that to say this:

Thanks to the folks at the Drinks At The Kitchen Table Podcast! I’ve been away from my family and traveling the world for quite a few years. It took me back to a time when I was able to sit at the kitchen table with my mother, father, grandmother, aunts, uncles, and cousins to talk about anything and everything!

In Episode 86, toward the end, the Drinks At Kitchen Table team started discussing The System. I spent 10 years as a Financial Professional, I have also been running my own businesses since I was in my early 20s. I’m a professional freelance Editor, Writer, and Copywriter.

20170712_214338While discussing financial responsibility, personal credit, credit cards, and fault, they made an enormous assumption that is easy to make and understandable. They assumed that the institutions that plague us are playing fairly. I can confirm, having worked with people mapping out their financial futures from across the board of very rich, to middle-class, to poor. As well as from the information and research I was able to do in my industry, that the entire credit industry is no more than a set of dice that’s been loaded against everyone.

It is a system created to see you fail!

Some people fail in the short-term while they are in their twenties. Some people fail in the long-term when they are older. Yet, everyone will fail if you play with the credit industry, or personal credit long enough.

That does not mean that you are stupid or irresponsible!

It means that you stepped into one of the most well-designed traps that the world has ever known; a trap cleverly constructed to make you, me, and everyone else believe that we are the exception to the rule.  A trap put together in order to make us believe that we can wrestle with the same System that has claimed the financial lives and financial futures of people far stronger, and smarter that all of us combined.

The only way to win is to be smart enough not to play the game!

Too many people who I have helped, and worked with, have been caught at the intersection of being not White and not rich. The System is especially hungry for the under-represented and under-educated!

Non-White and not rich are the buzzwords I used for a reason. Poor White people are in the same societal bandwidth as nearly all Black Americans.  The trick America played on White America was allowing them to believe that by simply not being Black (or any shade of Brown) that the American Dream was possible for them.  When given this maladaptive mindset to adopt, they were sucked into wrestling with The Credit System.

They lose as well…

To be clear, having no debt is better than being rich in most instances.  It is planning for foreseeable problems that we find ourselves steered away from, in an effort to convince us that the false narrative of “Credit” is what will save us when we need money the most.

It will not.

Neither you nor I have enough personal credit to deal with even the most mundane of personal health catastrophes.  The American Medical System is something I will cover later, however, most don’t realize that the few thousand in credit we have will barely pay for a few days of mediocre care in a simple medical facility.

We are specifically taught poor and inaccurate information on how credit works.

I destroyed my credit card with a sharp knife at 24 years old, after realizing the system is rigged against us.  That and my education are two of the three things that I cite as being the reason I am able to live freely, without worry.

Even if I had no money, I can’t slip into the negative space of owing the government or big business anything at all.

Just like the picture says, my life is cash and coupons:

1) Pay upfront for everything!

2) Never pay full price!

-Watt,

YusefWateef (at) Gmail (dot) com

You can contact Drinks At Kitchen Table through @DrinksAtKTP and DrinksAtKTP@Gmail.com

7 comments

  1. You know me as Jake ;-)

    Watt, you’ve hit the nail on the head here! Pay cash (only buy what you can afford right now) and get every discount available.

    Long-time friends chuckle in amazement and tell me I “live on air”. I’m frugal and therefore “rich”. Decided back in the 90s to remove ALL debt from my life. I do use credit cards (not debit cards) to avoid having to carry too much cash, but I pay my charges in full every month. No mortgage – I paid off my home 25 years ago. Haven’t bought a car ‘on time’ since early 80s.

    Consequently, I don’t worry about the interest rate. Thanks for sharing your insights with the world, and happy travels to you 🙂

    Like

  2. Selome

    “Too many people who I have helped, and worked with, have been caught at the intersection of being not White and not rich. The System is especially hungry for the under-represented and under-educated!

    Non-White and not rich are the buzzwords I used for a reason. Poor White people are in the same societal bandwidth as nearly all Black Americans. The trick America played on White America was allowing them to believe that by simply not being Black (or any shade of Brown) that the American Dream was possible for them. When given this maladaptive mindset to adopt, they were sucked into wrestling with The Credit System.”

    THIS right here struck such a cord with me! I recently read a discussion from someone I follow on FB that spoke about the concept and history behind Blackfolk in America and “credit/debt”, and this ties in, from another angle. As someone that has learned the hard way and still working to get myself out of that hole, and also wanting to advocate for/educate our peers and youth BEFORE they get caught up (like, seriously, I was so angry in my early 20s when I realized that I was essentially PREYED upon as a HS student looking at college applications and wading through credit card pre-approvals that “inexplicably” arrived at the same damn time. My lightbulb moment came when I realized that I would have been better served if there were mandatory and cumulative personal finance courses in public schools from elementary right up to age 18. I’m implicating all levels of our imbalanced and failing federal school systems in that observation.).

    Like

    • YusefWateef

      Thank you for talking about your experience with credit! Most people don’t know, or find out too late the HS (High School) students and college freshmen get dozens and dozens of pre-approved credit cards in the mail because schools sell their students information to other predatory institutions!

      References:

      “Universities and their alumni associations have discovered an unlikely and disturbing source of revenue: Increasingly, they are selling students’ personal information to big credit-card companies eager for young customers.”

      https://www.bloomberg.com/news/articles/2008-07-16/the-college-credit-card-hustle

      “Bank of America’s relationship with the university extends well beyond marketing at sports events. The bank has an $8.4 million, seven-year contract with Michigan State giving it access to students’ names and addresses and use of the university’s logo. The more students who take the banks’ credit cards, the more money the university gets. Under certain circumstances, Michigan State even stands to receive more money if students carry a balance on these cards.”

      http://www.nytimes.com/2009/01/01/business/01student.html

      “It was a given that the Community College of Southern Nevada would make money off of Denise Wilcox, 48, when she signed up for a creative writing course, but she never realized they would profit from her name.

      “Colleges already sell access to their students to banks through campus debit cards, which are typically linked directly to a student’s ID card. The lucrative contracts often offer colleges incentives for signing up more students, who then become bank customers.”

      https://www.marketplace.org/2014/09/25/education/learning-curve/do-you-know-what-your-college-doing-your-data

      At least three of the state’s higher learning institutions have partnered with credit card companies, and they turn over thousands of student names, addresses and phone numbers to the firms. In exchange the school receives a slice of the profits on all student credit card purchases.”

      https://lasvegassun.com/news/2001/dec/26/colleges-sell-information-to-credit-card-companies/

      “Some of the nation’s largest and most elite universities stand to gain millions of dollars from selling the names and addresses of students and alumni to credit card companies while granting the companies special access to school events, the Huffington Post Investigative Fund has found.

      The schools and their alumni associations are entitled to receive payments that multiply as students use their cards. Some colleges can receive bonuses when students incur debt.”

      http://www.huffpostbrasil.com/entry/banks-paying-colleges-for_n_604109

      “College students are a credit card company’s prime prospect. (If you haven’t seen the documentary Maxed Out, watch it before you step foot on campus.) They like to get you while you’re young for a couple of reasons. First, they have a strong hunch that your parents will bail you out if you run up your credit card bill. Second, you have a long credit life ahead of you. That means lots of years of interest payments for the credit card companies.”

      https://www.thebalance.com/credit-card-companies-love-college-students-960090

      Like

  3. Pingback: 40/40 Vision: A Retrospective. | Yusef Wateef, Adventurer!

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