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Freezing your debt

Friends and family often offer their financial advice freely. Although they are not professional financial advisors, their advice is often based on experience in the investment world, and they have learned lessons from bad investments and good investments. It is good to take their advice to learn about investing, but if you are looking for professional advice, you should seek a professional. Financial Advisors are often available free of charge at any major financial institution.

My friend Kathy has given me some of her wisdom regarding finances. Her credit card is frozen in a block of ice in her freezer. It ensures that she won’t use her credit card on a regular basis, but it’s available if she really needs it. There’s also the de-thawing period where she can still change her mind about making a purchase. I’m very impressed by Kathy’s idea, and I suspect others will follow.