“Credit card interest payments are the dumbest money of all.”
There’s nothing dumber then running up a credit card, then just sitting on it and paying interest til the end of time… In terms of business, credit cards are kind of like Net30 where you pay it off after 30 days. Except in this case if you don’t pay it by the statement date, then you end up paying interest on the balance which is the dumbest thing you can ever do with your money, because basically you are paying into nothing, you aren’t getting anything out of it. There are even stupider things people do though such as “buying” a car on lease, and end up not owning the car in the end, whats the point in it? Stupid financial decisions. From this quote alone you should take Hill Harper’s advice.
“A cash advance on a credit card is one of the worst types of borrowing because the interest rate is typically 21 percent or more.”
Suze Orman is like some financial talk show host on TV. She brings up a good point, there should be no reason why you should ever take a cash advance from a credit card. Cash advances are subject to a higher interest rate and sometimes additional fees. But these days credit cards are accepted nearly everywhere around the world, there should be no reason to take out cash from it. Just use the card itself.
“I have actually been very fortunate to be able to make films on my own credit card without having huge funders behind me dictating how the story should be told.”
This concept is based on the idea of Venture Capitalist putting their money into someone else’s idea. Because they are putting their money into it, they often change the idea quite a bit, until its not really what the creators at initially envisioned. In Jehane Noujaim’s quote, she is doing a thing where she funds the idea herself on a credit card which is sometimes done in business as well, very similar to making a movie. Two guys who started Google did this very thing.
“Basically, our goal is to organize the world’s information and to make it universally accessible and useful.”
“To me, this is about preserving history and making it available to everyone”
They created a search engine Google, and after a while of it getting a significant about of traffic, they were confident enough to purchase 1 terabye of storage at around $15,000 at the time. From there, it certainly paid off..