Stupid Ideas Are Bad For Your Financial Life.

Written by David Wilding




Stupid ideas come in all sorts of packages. Bad debt, various loans, purchase decisions, and delayed savings. Most people reachrepparttar age of 65 with little or no savings. They live off social security and what little else they have. It is no wonderrepparttar 112536 golden arches are filled with workers in their golden years.

Anything that wastes your money and prevents you from becoming debt free can be a stupid idea. The only way to save and invest money is to not send it to creditors each month. Only when it is yours to keep can you put it aside to work for you as hard as you have worked for it.

It is not your job in life to make your creditors rich. The goal is to make you rich. If you are going to make that happen, stay away from bad decisions. Decisions made inrepparttar 112537 absence of good, or even any, information. Time pressured, desperate decisions are seldom made with enough information.

Anything that slows down spending and requires you to think twice before parting with your money is a good idea. Fill out a Purchase Checklist for any decision that requires spending more than what you have in your pocket. Some questions you need to answer: Cost; is it on sale; can you pay cash; where willrepparttar 112538 money come from; do you knowrepparttar 112539 cost of credit if you don’t pay cash; with that cost added in is it still worth buying; is this a need or a want; could you justify this purchase to another person; and would you accept these reasons from someone else?

Stupid ideas abound when ignorance, greed and pride, (definitely notrepparttar 112540 common sense triplets) formrepparttar 112541 basis of your decisions. Ignorance is simply an absence of knowledge or information. Greed is nothing but wanting more than you should. Pride is caring what your neighbor. or someone you don’t even know, in an advertisement, thinks of you.

So, understanding there is no winner inrepparttar 112542 contest to see who isrepparttar 112543 most stupid, here are some things to avoid in your financial life.

Credit Card Companies Are Out for Your Money

Written by Christine Breen


You're probably thinking "Tell me something I don't know" but in this time of low interest rates you might be thinking that you've got a great deal since credit card interest rates are low. Wrong. Credit card companies have a cutoff as to how low their interest rates will go. So when interest rates are low for lending, that doesn't mean your credit card rate will be low as well. If you don't know, or aren't sure, if your credit card company has a minimum interest rate just look atrepparttar fine print on your next credit card bill. If you can't read that small of print, and most of us can't, giverepparttar 112535 customer service a call. If your credit card company does have a minimum interest rate then I'd plan to look around and go withrepparttar 112536 credit card companies that don't. Because whenrepparttar 112537 interst rates drop, you should get a break on your credit card rate.

The fixed rate on credit cards actually rose inrepparttar 112538 last twelve months. Why? Becauserepparttar 112539 credit card companies have been actually losing money due to record numbers of delinquencies and bankruptcies. Those who can't pay now for their purchases inrepparttar 112540 past are sticking their bill torepparttar 112541 rest ofrepparttar 112542 credit card holders.

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