Archive For The “Credit Cards” Category
Pride is what tells us to hide our mistakes and to be ashamed when our financial efforts fall short or when we fail to make an effort at all. Pride can make us hold ourselves to a higher standard than we hold everyone else. Pride can be a humongous downer, demotivator and can even make the situation worse.
How much does the average American family spend during the holiday season?
Do people who co-sign for loans usually end up footing the bill?
Think you know the answers? Maybe you do, maybe you don’t.
Have you ever taken money from a loan shark where you put a pound of your own flesh up as collateral so that your BFF could woo his lady fair (see the plot for the Merchant of Venice)? The girl in me is thinking, “oh my, how romantic,” the rational human being in me is thinking, “wow, that’s pretty messed up.”
Doesn’t it seem like the word ‘interest’, along with most of the good curse words, has lost most of its scariness? I’m not talking in terms of, “how interesting;” unless Hannibal Lecter is saying it, that’s not that scary. I’m talking in, “you’ll have to pay me back with interest,” kind of terms (Oooo, did you just get the shivers? Me too).
Putting something in layaway is no different than setting up an automatic saving plan, but it may provide that extra incentive to save if you are in need of a little motivation. Maybe you like knowing the exact TV that is in Sears waiting for you. Maybe you like going into the store an making a payment; each time knowing you are a bit closer to that riding lawnmower and sweet victory. Whatever the reason, if layaway is what you need to achieve your savings goal, minus the credit card interest, then I am all for it.
I’ve noticed that a credit score is the one thing that will cause more panic than a roomful of African Killer Bees; don’t ask me how I know, it was back in college. Your credit score is a reflection of your financial history. To credit card companies and banks giving out loans, you are an investment. Start getting on the path to a AAA rating by understanding and improving your credit score.