Concern of McCain’s Spending Policies and What You Can Learn
McCain as we all know is up for the presidency. November 4th is going to decide between him and Obama. In a world where the credit crunch has affected us globally as well as on our own turf it can be difficult to look at how the rich spend their money. There have been many lies and truths told about McCain and how he spends his money. In a recent email that went around the truths were shown in a way to offset the lies. Of course, the truth is just as bad as most of the lies being told.
This article is more about what the truth of McCain’s spending can teach us. For example, one truth offers is that McCain does play Craps in Las Vegas frequently. Typically he spends about a 14 hour session at the table; however he probably hasn’t gambled away 100,000 dollars in one session. It’s more likely to be his total for the year. This is just small to what we can learn about McCain though, and then learn about our habits.
McCain has spent 750,000 dollars on his credit cards between January 2007 and May 2008. However, what is also true is that after spending that amount of money McCain also paid it off. He has a net worth of over 100 million dollars, and his credit cards typically don’t have interest on them. The McCain balances are typically closer to 15,000 to 50,000 dollars at any given time. Again he does pay these off in a timely manner and doesn’t have interest to worry about.
Of course you as an average citizen will probably never be able to rack up that much on a credit card without paying interest or even have the money to pay that much off at once, but what you should learn is that McCain doesn’t spend what he doesn’t have. The moral is not looking at McCain personally, but at your own spending habits. Do you overspend on your card and pay the consequences, or do you pay off your balance every month?