1/30/2006

Advice from Nashville's leading Financial Aid Advisor Dave Ramsey

 
Dave Says
By Dave Ramsey
Author of:
Financial Peace and
The Total Money Makeover

"Perks for debit card users?"

Dear Dave,

I know you hate credit cards and the excuse of using them for airline miles. But what about some of the new programs that let you use your debit card for airline miles?

Chuck via email

Dear Chuck,

I don’t have a problem with these debit card programs, as long as you don’t change your spending habits to get the miles. Spending extra money just to rack up airline miles is dumb, especially when a Consumer Reports study showed that 78 percent of all airline miles are never used.

It’s great if you happen to accumulate enough airline miles to pay for a nice trip, but don’t fall into the trap of buying extra stuff just to bulk up on these things. Why spend your hard-earned money on something you don’t need just to try and get something you probably won’t use?

- Dave

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