I recently discussed that we have $223,270 outstanding in credit card balances. The next logical question is how much in credit limits do we have to support this strategy? Over $1 million! $1,020,270 to be exact. The total includes credit cards and lines of credit.
I thought it would be a fun challenge to see if we [...]

Posted December 10, 2007 in Advanced, Credit cards, Debt, Millionaires | 19 Comments »

In When Does the 0% Credit Card Really Expire? I stated that we had $58,980 on my American Express card. If that’s just one card, how much do we have total? And why?
$223,270. Yes, you read that correctly. However, it’s all at 0% and accounted for. It is actually making and saving us money! It [...]

Posted December 9, 2007 in Advanced, Credit cards, Debt | 24 Comments »

As I flipped the calendar to December, I had a note that one of the intro rates on our credit cards expires this month. I have a balance of $58,980 on my IN:CHICAGO Card from American Express at 0%. I looked at the terms, which I store in an excel spreadsheet, and read the following: 0% through billing [...]

Posted December 2, 2007 in Beginner, Credit cards, Debt | 4 Comments »

This is the second post in a series about millionaire status. Read about the first one here: Millionaires in the Making: Pros and Cons.
The million dollar number is often set as a personal goal for many people. Has anyone ever gone the other way and made it to the dark side of a million? Could [...]

Posted November 20, 2007 in Advanced, Debt, Millionaires | 4 Comments »

CNN Money hosts a section on their website called Millionaires in the Making. Once or twice a month they highlight a family that is well on their way. (Or sometimes not so well.) The articles disclose salary, debt, savings, and budgets for the highlighted family.
What makes people want to give out all this information? Let’s [...]

Posted November 11, 2007 in Advanced, Debt, Millionaires | 3 Comments »