Surprise, Your Credit Report Stinks

Written by on February 2, 2012 · 11 Comments
car dealership

Credit reports are a funny thing that even the most seasoned of financial experts have trouble understanding. With all of the “myths” and “misconceptions” about credit scores swirling around it can be difficult to decipher myth from the real truth. Recently my friend went to a car dealership in search of a new vehicle to replace their old vehicle. Unfortunately, they didn’t have the money saved up to purchase the vehicle (I advised paying cash makes the most financial senseJ), and were going to have to finance the vehicle. When applying for any loan or line of credit you are [...] Read more »

Tags: , , , , , ,

Credit Card Emergency Funds – An Alarming Trend in Society

Written by on January 20, 2012 · 19 Comments
credit card emergency

The following is a guest post by Jacob from My Personal Finance Journey, a personal finance blog offering actionable personal finance advice with the goal of achieving long-term success. In particular, Jacob focuses on long term investing and asset allocation strategy analysis, deciding how to prioritize new funds as they come in to various spending requirement areas, and how to develop a lifestyle of frugality. Several months ago through the magic of LinkedIn, Brad and I were able to find out that we actually lived in the same city in Virginia. This was quite an awesome find, being as that the personal [...] Read more »

Tags: , , , , ,

Kids and Money – Credit Cards for 2 Year Olds?

Written by on January 16, 2012 · 21 Comments
cashregister2

Do you want your 2 year old “learning” to swipe a credit card? This Christmas Noah (our 2 year old) was given a Shop and Learn Cash Register. At first I was excited. The nerd in me eagerly opened it up and secretly drooled over the idea that Noah was going to start learning about money. It had buttons, sounds, lights, a working coin drawer, a scanner and groceries to ring up. Perfect fun right? Then I noticed it also came with a credit card. I’d rather it not have a card at all — debit or credit — but [...] Read more »

Tags: , , ,

Changing My Money Mind in 2012

Written by on December 22, 2011 · 10 Comments
new years resolutions

It’s that time of year when we all vow to change our ways and resolve to go on a diet, quit smoking, or get out of debt. How many of us actually have a plan in place to make our resolutions a reality? Unfortunately most of us don’t and this is why we are doomed to fail before we even start. Yes, money is necessary to support our lifestyle, but do we let it determine how we live our lives? The fact is many of us do. We allow ourselves to live up to or above our means which often [...] Read more »

Tags: , , , , , , , , , ,

Just Say No to Inflatable Santa’s

Written by on December 8, 2011 · 9 Comments
inflatable santa

“Mommy please can we get one of those inflatable Santa’s?” This is the plea I have heard from my eight year old son since we began to decorate (with our already purchased) holiday decorations the day after Thanksgiving. My answer remains constant, “Not right now buddy, we don’t need an inflatable Santa.”  Unfortunately millions of Americans apparently do feel they need inflatable Santa’s, two Christmas trees, and thousands of twinkle lights to adorn their homes so they can feel the magic of the holidays.  According to a Bloomberg report, “This year U.S. consumers will spend $6 billion on decorations, the [...] Read more »

Tags: , , , , , , , , , , , , , ,

This Year Just Say No to Chia Pets

Written by on November 10, 2011 · 13 Comments
chia pet

The holiday season is rapidly approaching; Christmas, Kwanzaa, Chanukah, whatever you call it, is about spending time with friends and family, enjoying a meal, and the true meaning of the holiday you choose to celebrate.  It is NOT about who spends the most, who has the biggest pile of gifts, or who got the most Christmas cards. Many of us take the true meaning and purpose of the holiday season and turn it into a spending spree only to find the credit card hangover in January lasts until next year when it starts all over again. The Target, Our Children [...] Read more »

Tags: , , , , ,

I Hear the Secrets that you Keep…

Written by on October 27, 2011 · 6 Comments
whisper

I do, I hear them; the denial, self talk, and the inevitable, “What am I going to do?” They are secrets you keep from everyone; your family, your friends, and even your significant other. You’re in debt. It doesn’t matter how it happened, what matters now is that you do something about it.  That’s where I come in. I am a certified credit counselor for CareOne Debt Relief Services and everyday I talk to people about their debt. Sometimes I am the first person they have admitted this to and they are scared, apprehensive, and skeptical. I would be too; [...] Read more »

Tags: , , , , , , ,

Paper or Plastic: Taking a Family Vacation without Credit Cards

Written by on September 24, 2011 · 12 Comments
cash baby

If you are like most American families, with the stagnant recession, escalating gas prices, and unstable job market, you’ve chosen to forgo vacations for in-home activities. Believe it or not, there is a way to stick to a no-credit card spending mentality, and still provide a wonderful family vacation to your family. Because booking hotel, airplane, and car rentals often request a credit card as payment, it takes a little more creativity to make a family vacation possible with using plastic. Sometimes, it might involve using family and friends who still use credit cards. Do not hesitate to give close [...] Read more »

Tags: , , , ,

An American Tale: A Life of Credit and Debt

Written by on August 27, 2011 · 16 Comments
An American Tale: A Life of Credit and Debt

Credit Cards. In my college years, those two words meant freedom. They provided me with a sense of security. They allowed me to finally purchase anything I needed without having to ask my parents for help. Credit cards were the answer when I was hungry or late on a bill payment because my checking account was low. They provided a means of fun. I didn’t have to say ‘no’ to myself anymore. I could go out to dinner at a place that didn’t have a drive-thru. I could go on spring break to Florida. I could buy concert tickets when [...] Read more »

Tags: , , , , ,

It’s True, I Get Paid to Write for American Express

Written by on September 23, 2010 · 19 Comments
Currency

American Express? Yep, You Read That Correctly I was recently contacted by someone who wanted to know if I would be interested in getting paid to write articles geared towards helping young people become more financially responsible. I responded with interest and wanted to know more. When I found out that the new site called CURRENCY, was being developed by American Express and Federated Media, I chuckled at the irony, but the timing couldn’t have been better. Currency Launched on Tuesday. Here are two of my published articles: Looking for a Job? Get Creative Going Back to School? Don’t Ruin [...] Read more »

Tags: , , , , ,

A Contrarian View of Credit Reports and Credit Scores

Written by on September 9, 2010 · 16 Comments
creditscore_equals_bigbanks1

Photo Credit: Adam_T4 Credit reports and credit scores are useful tools for those interested in estimating the credit worthiness of others. Many of us have worked hard to establish credit and keep our scores in the upper range so we’re viewed favorably. This indicates to others that we’re a good credit risk. It’s an important accomplishment because we know that having an undesirable credit rating can: adversely affect our ability to get a loan; result in being declined an offer of employment in certain job sectors; prevent us from qualifying as a tenant; and, interfere with being issued a security [...] Read more »

Tags: , ,

Your Financial Mindset Determines Your Ability To Handle Credit Cards

Written by on May 19, 2010 · 39 Comments
credit cards

Have you ever taken a position on credit cards one way or the other? I have, and to only say I was passionate about my position, would be an understatement. Just ask J. Money! I must start out by saying that some of you are going to feel as if I have lost my mind, and the rest of you are just going to be shocked completely about what I am about to say. Not because it doesn’t make sense, but because it is coming from ME. I am no longer the sworn enemy of credit cards. Yes, you read [...] Read more »

Tags: ,

My Journey to Financial Freedom | Part 2: The Climb

Written by on March 18, 2010 · 23 Comments

This is a guest post by my “virtual” friend Dena from Evolution You. I have admired her work for some time now, and am happy to be able to share this post with you here on EOD. It is truly inspirational! Be sure to subscribe to Evolution You so you can receive her awesome updates each week. Enjoy! Three years ago, I was nearly $60,000 in debt. I had a Bachelor’s degree that didn’t appear to be worth its weight in salt and a job that couldn’t cover a fraction of my monthly bills. I was terrified. Today, I am [...] Read more »

Tags: , ,

Did You Have A Debt Free Christmas?

Written by on December 28, 2009 · 17 Comments

Well Christmas has come and gone…again! It was a good one too! I hope you all had a wonderful Christmas! Now is usually the time when people start to come down from their Christmas buzz, and reality begins to set in. You’ve heard of buyer’s remorse right? For those who haven’t, it comes after a major purchase, or minor for some people, when you begin to regret your decision to buy whatever it was that you bought. I’ve experienced it for sure! Let’s just call this Christmas remorse shall we? Christmas remorse?? It almost sounds like a bad word. Who [...] Read more »

Tags: , ,

Next Page »