on January 21, 2009
I have done my own research into different ways to maximize making money on interest prior to reading this book. This book does talk about the concept behind making money on money that isnt yours. From personal experience, this is true. However, the pitfalls for undisciplined users has the potential to be high. These days, alot rides on your credit score and financial responsibility. The amounts of money youre talking about is at least $10,000 - if you try this and goof up, youll hurt yourself far more than benefit. However, if you can follow the very simple steps discussed in this book, youll be able to enjoy some extra money every month. I would recommend this simple easy-read book to anyone who is exploring different ways of maximizing returns on interest and wants to get an idea that can be made into a feasible plan.
on May 29, 2009
This is a interesting little book. Only a couple pages were really useful. Most things can be easily found on the web (improving your credit score, and so on) or by using your common sense (don't save money at very low rates when you owe money on your credit card with huge interest rates).
I think it is important to know that using this technique will lower, at least temporarily, your credit score because you max out the credit card you are using to benefit from arbitrage for a number of months or for a year.
Also, this technique should be used by ORGANIZED people who can keep a precise track of things, otherwise, you'll get into trouble.