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Cindy McCain, Give Me a Little Credit

Posted on July 14th, 2008 in HOWDINI by admin

I always thought I was an excellent shopper until I read that Cindy McCain, in one month, ran up an American Express bill of 500 thousand dollars on one account, and about 250 thousand on the other. Now, unless you’re charging a Maserati, or a condo at the beach, it’s not easy to run up three quarters of a million dollars on your credit card. My hat is off to her.

It’s true, she’s a rich lady and she can spend her money however she wants (except when she’s giving it to her husband’s campaign–there are laws about how much she can contribute). But besides the eye-popping credit card debt she’s responsible for, there was another revelation that blew my mind.

One of her dependent children last year was carrying an average monthly credit card balance of 50 thousand dollars. That is a lot of video games and shoes.

If you, on the other hand, do not want your kids running up huge credit card debt, HERE is great advice on teaching kids about money from author and financial guru David Bach, whose bestselling personal finance books are always full of fantastic information.

As for me, I’m hoping Cindy McCain will adopt me.  Hey, does anyone know what the minimum monthly payment is on a credit balance of half a million bucks?

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