Death By a Hundred Paper Cuts

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Mmmm

Tim Horton’s Iced Cappuccino, a guilty daily summer treat many of us, myself included, are a victim of. Here’s the facts, it’s like dating someone much younger than you. The instant gratification is awesome but sooner or later the constant indulgence will likely hit your bank account hard!

Tap and go credit cards are a convenient way to lose dwindle your savings and break your ability to retire. It’s death to your savings one credit card statement at a time…Do you know who is the most interested in your financial future? Think about it? Did you say your parents? Nope. Did you say the banks? Nope. It’s you.

Think about it, the banks gave you the credit card in the first place. Will they help you save when they’re earning 19.9%-25.6% from you? If you’re angry at this point and are saying, “I just won’t pay them back”. This may not be the best route to go either, as you’ll need to draw upon credit from time to time to pay for online or large purchases (especially if you don’t have an emergency fund). If you stop paying altogether you’ll be denied access to your account. If this is you now then it’s time for debt relief.

So what’s the verdict? Give up on all urges of Iced Cappuccino? Start to frequent the Surrey cougar bars instead of meeting up with the young hottie you met last month? Personally it’s no to both. Watch what you spend, look for less expensive alternatives…and stop following that hottie on Instagram. 😉