Debit Cards... A Financial Nightmare!

What is flat like a pancake, gives you the freedom to have your wildest dreams and steals from you at the same time? A evil magic lamp you say? That might be a good name for it ... but most of us call it a debit card.

With the invention of the plastic money and credit cards ... the debit card has become the method of choice for spending money these days. In fact Canadians (Kelowna residents are no different) rank as one of the worlds biggest users of debit cards.

The reason most of use our debit card before we use our credit card is simple ... we are spending our own money... nothing is being added to our credit card balance with a no chance of paying interest. Since I am a big fan of eliminating of debt, the debit card seems a natural choice.