Buffer Your Way to Success!
Your Weapon Against Bad Debt
Ever Wonder What…
….life is like without a credit card?
….life is like without personal and car loans?
….life is like without buy now pay later plans?
….how can life even work without these?
We are going to look at the beauty of the BUFFER! Or more precisely, a Finance Buffer and the benefits it brings.
It also requires you to flip your thinking a little, as well as to activate your willpower!
Cashflow Buffer
Have you ever needed to pay for electricity, or food, or anything by a certain date, but just knew you wouldn’t have the funds available for several days after the payment was due?
You end up paying for the item, but now there might have been a late payment fee of some kind, which might cost an additional $35.
What happens if that $35 makes you short to make another payment? Oh look, now you have an extra $35 to pay. Would you like some finance to help you make your payments and feel better?
Yea, that is a very slippery slope.
A Buffer avoids all of that by allowing you to pay for things as, or even before, they come due!
What is a Finance Buffer?
In essence a Finance Buffer, or just buffer for short, is a certain amount of money that you DON’T TOUCH, unless there is an emergency. (And no, that lovely new black dress or new TV does not count as an emergency!)
It is an amount of money in a transaction or savings account, which likely has Debit Card attached to it.
Note: A debit card is exactly like a credit card, except it draws money from available cash and does not go into debt. So no bad interest!
A finance buffer can be a separate account, or just the main account through which you pay all your bills/purchases with – however there is a balance limit that you never drop below – this is the buffer.
