FinDoc

𝑪𝒓𝒆𝒅𝒊𝒕 𝑪𝒂𝒓𝒅 𝒗𝒔 𝑫𝒆𝒃𝒊𝒕 𝑪𝒂𝒓𝒅

The person in this video is Frank Abagnale, where he is an American Author and a convicted felon. If you have watched the movie "Catch Me If You Can", played by Leonardo DiCarpio, yeap, Leonardo played the story of Frank.

In this video, Frank was selling the idea of Credit Card, where it should take priority over Debit Card, explaining what he think it is right.
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While we agree to some of the points he had mention, we do not agree fully that Credit Card should replace Debit Card. Our views are below:

Question: All of these Cash, Saving Account, Debit Card, Credit Card, e-Wallet, Fixed Deposits, Investments, what do they all have in common?

Answer: They are a Financial Tool.
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-> Cash won't come to you, if you don't know how to earn it.
-> Saving Account won't be convenient, if you don't use it.
-> Debit Card won't help you, if you don't know how to save.
-> Credit Card ain't a Saint, if you don't have money to repay it.
-> e-Wallet has no benefit, if you don't have cash.
-> Fixed Deposits won't help you to fight inflation, if you don't believe in saving in it.
-> Investments won't help you to grow your wealth, if you don't know how to invest.

Many people often thought that these tools will help them to solve their financial problems, but majority of those problems remains until today. Why?

Because those financial problems are caused by mindset and habits, which they cannot be resolved by tools,. They are resolved by internal conviction through continuous learning with an open mind.

Frank Abagnale on Credit Cards Full video: https://www.youtube.com/watch?v=vsMydMDi3rI&t=2849sFrank W. Abagnale is one of the world's most respected authorities on the subjects of forgery,...