Your Credit Score — It’s Not a Measure of Financial Responsibility

Credit Scores are for Borrowers

If I received a quarter for every time someone told me I “needed” a credit score I would be super rich right now. There are many myths surrounding the credit score and believe it or not, it’s the financial world itself that continues to spread these myths. Ask any educated finance graduate if you need a credit score and you’ll most likely hear a “default” answer of ABSOLUTELY. Ask them why you need a score and not only are you likely to get an evil eye roll, the next words out of their mouth will probably be…ARE YOU KIDDING ME? […] Read more »

Surprise, Your Credit Report Stinks

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 »

Credit Card Emergency Funds – An Alarming Trend in Society

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 »

It Adds Up – Financial Adages Help Us Learn from Others

Even small coins "add up" to something larger.

I have a friend who likes to say, "It adds up." He says this when he's referring to saving a little money here and there. Well, of course it adds up, and when we're saving money, it seems to take forever to amount to anything appreciable. But, that's not the case when it comes to spending money, especially when we're buying things with a credit card. Read more »

Do You Worship the “Not So Mighty” Credit Score?

my credit score

When you were younger, do you remember hearing countless people advise you to “build your credit”? Those same voices were buzzing around in my head until I got a clue in 2007! “You’ve got to build your credit” they’d say, and the reason is usually based on the myth that says in order to be financially responsible you must build your score. I despise this myth most of all because from what I see, it has ruined more lives than it has helped. Think about it. 18 year old after 18 year old has inserted themselves into the murky waters […] Read more »

If You’re in Debt, STOP Fueling the Fire…and Win Some Money Too!

Wicked Evil Fish Shred

I know it seems extreme to cut up your credit cards for the greater good, but what you have been doing so far has got you where you are. Try something different. In any case, you can always go back to your old ways and rack up some more credit card debt -- though I wouldn't recommend it. You have nothing to lose except for your debt, high stress, living paycheck to paycheck, money fights, extreme frustration, bondage, depression, and poor finanial habits to name a few -- and that's right off the top of my head. There are plenty more! Read more »

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


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 »

A Contrarian View of Credit Reports and Credit Scores


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 »

Enemy of Debt the Super Hero?


PURE AWESOMENESS! Yesterday, Enemy of Debt was introduced to the comic strip world for the first time! Back in February, I sent the creator of the Personal Finance comics an email, suggesting an Enemy of Debt character. Every comic has a villain and since he writes for a credit card site, I thought Enemy of Debt would play the part nicely. He liked the idea, and even took it one step further by asking me to write up a storyline. Having never written anything like that before I was a bit nervous, but I jumped right on it. I submitted […] Read more »

Your Financial Mindset Determines Your Ability To Handle Credit Cards

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 »

Book Review: Living Well With Bad Credit

Back in December, I was asked if I would participate in a book review online tour. The book is Living Well With Bad Credit by Chris Balish and Geoff Williams. Now before I get started I must point out that this book has some things I ultimately disagree with, but with that said, it also has some helpful tidbits to help exterminate the notion that bad credit is the end of life as you know it. One of the very first things that stood out to me was one simple phrase. It’s a phrase that sounded so familiar, but it […] Read more »

The Day I Killed My Credit Card

This article is dedicated to the blogger at Cash Only Living. She said she loved my site and invited me to check out one of her posts. I read it and liked it, but another article she wrote called “I Did It! No More Credit Cards!!” grabbed my attention even more. It inspired me to write something about how I felt when we paid off our last credit card. I decided to make it fun by turning it into a story. This has never been done here so I hope I don’t let you down. Read about when she finally […] Read more »

Hope Is The Dream Of A Soul Awake

“When you do nothing, you feel overwhelmed and powerless. But when you get involved, you feel the sense of hope and accomplishment that comes from knowing you are working to make things better.” As some of my most loyal readers know, I eat, sleep, bath, and drink personal finance.  It’s sometimes all I talk about, definitely all I think about, and I seriously love blogging about it!  I absolutely NEVER EVER pass up an opportunity to discuss with someone the benefits of debt freedom.  My co-workers and friends, even the ones that aren’t completely on board, seem to know deep […] Read more »