The 3 Prisms Of Money (Prism 1)

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Prism 1: Spending money we don’t have

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6 months ago, I partook in the greatest step ever towards financial freedom. I took out my American Express card, on which I had charged over $2000 monthly and cut it in 2 separate unusable pieces. At that point in life, I made a strong decision to get out of my credit card bondage. I remember growing up in Nigeria; you bought everything with cash, food, cars and even houses. There was nothing like financing, the only store that offered financing had a sign on their front door that said “no credit today, come tomorrow.” But so easily I got sucked up into the habits to spending on credit, I believed I was building my credit, I mean what system makes you borrow money to prove that you could borrow more money in other to build your credit?, If you can make your credit card bills every month then why don’t you just save the money and “build your debit?” American Express, Master Card and VISA have pumped millions and millions of dollars into the American society to lead us into believing that if you do not have a credit history you cannot exist. Bull! Every single person ought to shear up their credit cards and return to the good ol days of carrying cash. I recall a great number of my friends that got caught up with credit card debts of over $5000 while in college “80% of graduating college seniors have credit card debt-before they even have a job,” the best advice I ever received on Credit Cards came from my Uncle. Simply put he said “don’t ever touch credit cards.” And am glad I did.

The only reason one might need credit of any sort is to feed the million dollar sponsored phrase “building credit,” The only important purchase in your life that needs some sort of loan is a home mortgage (as it is the only appreciating asset worth lending money for), and this can be gotten without a credit-card-spending-history, if you have a mortgage company that tells you otherwise leave them quick and hire someone else. With 10% down on a house and 2 years rental history, you will have more that enough information to qualify for a conventional fifteen-year fixed loan on a home. So cut up your cards up and spend the money the good old way, with cash. Remember the simple but difficult rule, “Don’t spend what you don’t have”

OFILI is an award winning motivational speaker and life coach, who blogs about life, success and excellence. He is the author of the inspiring memoir HOW STUPIDITY SAVED MY LIFE and has been featured in magazines and radio stations across the globe including CBS radio. Ofili is currently working on his second book LEAD, FOLLOW OR GET THE HECK OUT OF THE WAY a kick-ass approach to getting the most out of your organization. To get a copy of Ofili’s latest book on success visit


Author: Ofili

Words by Okechukwu Ofili of
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