Apr 10 (edited) • General discussion
"Cash is King?" Stop Kidding Yourself. Really keep telling yourself that !!!
An Exclusive from Retirement Is Us—Laba dabba do!
Are you stuck? Oh I pay cash for everything!!! Look at me pulling stack of cash showing everything I own in my pocket. When your done playing Mr. Bigshot or the wheel in front of your friends then you go I got nothing left at the end of the month !?! O cry me a river Mr. Bigshot
Millionaires constantly look for opportunities to use other people's money, getting a piece of the action. Oh, you keep telling yourself "Cash is King" when the Kings of the world use your money.
Yeah, right. You tell me you've got "no money" to invest? Why not get a credit card that gives you straight cash back? You take that free money, put it into an RRSP first, and then use your tax return to fund your TFSA! So hey, Mr. Show Off, whining, "Oh, I can't start investing, I have no money", you're still walking around saying Cash is King? Give me a break.
Unless you are running an illegal underground operation, hiding from your WIFE | HUSBAND or the government, or living entirely off the grid in a cabin, clinging to cash is pure financial madness. You keep telling yourself cash is king? Wake up. You're leaving money on the table, and frankly, it's costing you. Here is the brutal truth about why the smart money uses plastic, apps, and other people's money to build wealth. But wait caution first look Mr. Laba O I don't use carry cash but use my Debit Card.
The Debit Card Disaster
First off, if you are walking around swiping a debit card for your daily purchases, you are playing Russian Roulette with your liquidity. Debit cards offer zero real security. You swipe that piece of plastic at a compromised gas station pump, it gets skimmed, and boom. How do you like that now KIK kiss your money good bye zero Insurance. Your actual, hard-earned checking account is drained. Seen all too often with old school Aunts and Uncles. What happens next? You shut down the card, your account is frozen, and you are left completely stranded while the bank takes its sweet time investigating. Cry beg plead on your knees...Help me Cash is King Mr. Banker.
Let's face it when you use a credit card, you are using the bank's money. If it gets compromised, you aren't out a single dime while it gets sorted.
The Rewards Hustle: Getting Paid to Live
The "Laba Next Door" doesn't just spend money; they get a return on their spending. Does handing a cashier a twenty-dollar bill give you a rebate? Absolutely not.
Here is how you systemize your life:
- The Grocery Engine: I use two cards exclusively: the Costco Mastercard and the President's Choice card. Every single time you buy food, you are stacking up points and rebates. You are literally getting paid to feed yourself. Wife likes PC Card and gives her power to come home with Shrimp or stupid POP, magazines without me bitching
- The Utility & Road Player: For car washes, road repairs, and runs to the hardware store, you deploy the World Elite Triangle card. It captures value on the gritty, day-to-day maintenance of life. Break down don't need CAA or get to buy stuff for summer RV.
- The Time Multiplier: If you value your time, you aren't wasting hours wandering through retail stores. You shop on Amazon, you use the Amazon Credit Card, you collect the points, and you let it show up at your door. No service fees, extended protections, and maximum efficiency.
The "No Money" Myth: Diamonds in Your Backyard start digging in your wallet lose the cash.
Your here to start your journey. Don't tell anyone you got no money be creative. You want to learn about trading, TFSAs, and RRSPs. But I constantly hear the same whining excuse: "I don't have any extra cash to invest!" Look down, because you are stepping on diamonds right in your own backyard.
Did you know? You can get a card like the Tangerine Money-Back Credit Card that pays you hard cash on your everyday spending? You take that percentage back, automatically dump it into a savings account, and then execute that RRSP to TFSA sweep I just talked about. You are literally funding your investments with the credit card company's money.
So stop looking me in the eye and telling Laba Bear you have no money to start investing! Your honey is is sitting right there in your daily habits; you just have to be smart enough to harvest it.
O.P.M. (Other People's Money)
Here is the ultimate wealth-building truth bomb: Everything from Mr. Weber, to Mr Maytag and my friends OMG Laba how do you buy all these better brands and O come on. Your Weber BBQ and Fridge are both 26 years old I had 5 BBQs and they always rot out. Never tie up your own capital when you can use someone else's for free and quality not quantity is KING.
When it's time to buy major appliances, you don't dump a pile of cash on the counter. You go to Home Depot and you leverage their 6, 12, 18, or 24-month zero-interest payment plans. Wait tease them odd time put couple bucks on their card especially if you don't want to worry about receipts.
The Pro Laba Move: If you take a 12-month promotional plan, divide the total bill by 10. Pay it off in 10 equal, automated payments. You clear the debt early, pay zero interest, and KEEP YOUR OWN CASH TO BUY investments elsewhere. That is how the rich stay rich.
The Privacy Illusion Next time you go for a drive shopping did you know you passed 50 or more cameras - Not wearing a Tin Hat but come on really ???
"But they're tracking my purchases!" Oh, please. Are you running from your past?
You think you are off the grid with your cash, once you use your debit card now they got you with cash purchase where did you get that money but you are already tracking yourself for the benefits too - Insurance Extra Warranty Luggage Loss. I use the Klarna App to digitally store your Rexall and Petro Canada points anyway. Embrace the technology. Oh wait you want to show how big of a bulge you got in your pants right Mr. Jones. The bulky leather wallet is dead. With the right phone and Apple Wallet, you don't even need to carry physical cards anymore—just tap and go.
(Just be smart and know your daily limits).
The Bottom Line
So, tell me again why Cash is King? It's a depreciating piece of paper that earns you nothing, protects you from nothing, and rewards you with nothing. The only acceptable reason to carry 50 or 100 bucks tucked inside your phone case is for that one rare doomsday scenario where the network goes down and the machines are offline. It's an emergency parachute, not a financial strategy.
Stop playing small. Optimize your spending, leverage the banks, and start treating your wallet like a business. Not only do I not carry any points card I got 100plus books I listen to in the car...
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"Cash is King?" Stop Kidding Yourself. Really keep telling yourself that !!!
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