Sunday, April 7, 2013

We've Always Done It That Way

In the business world it's bad form to say "We've always done it that way" as an explanation for a process, procedure or method of doing business. In general I agree. But, as an example of how this can somtimes be a good thing, I realized my wife and I don't know any of the terms, conditions or interest rates on any of our credit cards. Normally this is the type of information you need to stay on top of, but the reason we don't is because we always pay our credit cards off in full, every single month, within a few days of the monthly statement being issued. This one single habit saves us money (by not paying interest), time (we don't need to keep track of "payment due" dates) and any grief that might come about from getting behind on debt payments. Why do we do this? Because we've always done it that way!

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