The seven mastery levels of credit card usage

There are many ways to use a credit card, probably as many ways as there are people using credit cards. And, just as there are no two people created equal, there are no two equal ways to use a card. We can’t really talk about each of those in detail so I just created this super-clever 7-level classification in the progressive mastery of credit card usage.

I ordered the seven levels by their increasing level of mastery, but not in the order people would go through them. Obviously, everyone will start at the “average” level (the third level in my arbitrary system). In a way, everyone has a shot at using credit cards in a clever way. From there, one would either go down to one of the first two levels (the “bad” ones) or up to one of the top four levels (the “good” ones).

credit card usage
credit card usage

So here are the seven levels:

Continue reading “The seven mastery levels of credit card usage”

The Millionaire next door (book review)

I finally finished reading “The Millionaire Next Door” by Thomas Stanley and William Danko. Early this summer at a garage sale in my neighborhood I got a copy  of the first original edition from 1996:

And I say “finally finished” because it was hard to go through it, I was a bit disappointed but I still got a few good things out of it (details towards the end). Continue reading “The Millionaire next door (book review)”

The Seven Wastes of Personal Finance

Back when I was in cubicleland, in my last corporate job, I went through the very good Six Sigma training and certification program offered by my company: Green Belt, Black Belt, and Master Black Belt. I did not get the MBB certification though, time was ripe to quit before I finished it…

Six Sigma, or continuous improvement,  had three “tracks” (three ways to go about it): “Variation” would be the traditional way of improving processes with stability and control, “Lean” is the waste-reduction way (and the subject of this post), and “Design” is likely the best and most difficult way because processes are optimal from their inception.

Lean strives to eliminate seven “types” of waste, the “seven wastes”. This technique was developed initially in Japan by Taiichi Ohno but now is learned and used everywhere.

seven wastes

Continue reading “The Seven Wastes of Personal Finance”