Advertiser Disclosure

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which may receive compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. does not include all credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.


Dig Deeper


Become a Money Crasher!
Join our community.

Does Having No Debt equal a Longer Life Span?

Today in the news, a man from Los Angeles, California named Arthur Winston retired at the age of 100.  He worked in the mass transit system since 1934!  I did not even know they had a transit system in 1934.  In his 70 plus years of working, he had only taken one sick day.  I thought this was a nice story, but what really caught my attention was when they asked him what his secret was to staying alive and kicking for so long.

He replied, “I pay CASH for everything” among other things that he listed for his secrets to staying alive and healthy.  I thought this was so interesting that one of the top things that this man listed as something that kept him alive for this long was paying cash for everything that he bought.

Sign up for an account at Simple by 7/31/19 4:59 PM PT and get up to a $500 bonus and 2.02% APY (with qualified activities).

I do not know if it makes sense to you, but it makes sense to me.  Imagine life without any payments.  Imagine never having to worry about someone taking something from you or calling you every day or writing you every month to tell you that you them money.  Don’t you think that your life would be less stressful?  Do you think that you could live a healthier life with less stress in your life?  No one can deny that debt brings on stress.  You constantly think about ways to pay it off or ways to creatively play with it.

For those of you personal financial experts that are still convinced that debt is a tool, I pose one question to you:  would you rather live till your a 100 years old, or would you rather own a credit card that charges 5% interest and you invest it at 5.5% interest into a CD to make a whopping .5% interest on it.  I read about this crap all the time on the internet.  People are always talking about ways to beat the credit system.  The funny thing is that I never hear stories about people actually beating the system.  What I usually hear is people around my workplace joking about their horrible credit or their unbearable debt load.

The moral of the story, don’t treat your personal debt the way a business treats its debt.  You’ll get burned every time.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

Next Up on
Money Crashers

Amazon Prime Day Coming Soon

Amazon Prime Day 2019: How to Get the Best Deals

What is Amazon Prime Day? It's a day-long (or longer) extravaganza of exclusive deals for Amazon Prime members. During this sales-fest, the world’s biggest retailer will slash prices on a wide variety of items — some of them by as much as 50%. To get the most out of Prime Day, it pays to plan ahead — researching deals, deciding what to buy, and keeping track of when sales pop up. By preparing for Prime Day in advance, you can get the most for your money with minimal hassle.
Six Figure Income Jobs

11 High Paying Six-Figure Jobs Without a College Degree

While many aspire to go to college after high school, not everyone can, or should, head straight to university. Family issues, a lack of...

Latest on
Money Crashers

Sign Up For Our Newsletter

See why 218,388 people subscribe to our newsletter.

What Do You Want To Do
With Your Money?