Some people say that if you can eat it or wear it, don’t put it on your credit card. That’s good advice, but take it further. Try not to put anything on your cards that you can’t pay off in two or three months.
You need only one or two credit cards. If you have a fistful, pay them off. Remember, debt holds you back.
“It reduces cash flow for other things, including investing,” Welch says. “If no one gave you money to borrow, you’d be better off.”
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