209 Jason on Vroom Vroom Veer

Jason on Vroom Vroom Veer

In this episode Jeff Smith from Vroom Vroom Veer is interviewing Jason.  They talk about Retirement Budget Calculator and having the right mind set around money. 

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One thought on “209 Jason on Vroom Vroom Veer

  1. Credit Card companies make money 3 ways – Interest, Annual Fees, & discounting payments to the store accepting the card. With respect to Dave Ramsey – I don’t believe that those of us that are paying our cards every month are causing interest rates to go up for others. Very few companies charge less than the maximum allowed by law – should all of us not pay our bills timely, they aren’t going to lower the rate for others.

    The big chunk of money that people miss (and Dave and You probably know this) is the discount our stores receive when they sell us something on credit. This credit is 1-4% of the gross sales and that amount varies by what credit card is used. Cards with the bigger benefits have the greatest discount. But few stores can recognize and add this cost back to each sale and therefore that cost is spread across all buyers. (My company is not a retail company and we do charge back the customer if the purchase is over $1,000.)

    The store gets the advantage of quick access to the cash, lower collection costs, less risk of loss from handling cash, etc. Even at 4% it might be worthwhile to the company.

    So, IF YOU CAN USE CREDIT WISELY, keep using your credit card. Your benefits aren’t coming from taking money from poor people – its coming from the discount the store is accepting. (If you can get them to give you a cash discount, this is probably the best financial move).

    Paul – Spokane