Learn more about the benefits and the downside to credit cards. Some people can use them and some people cannot. Also be sure to check out our complete guide to utilizing credit cards.
Cash or credit? What do you use?
I’m a fan of Dave Ramsey, but I don’t think everyone has to be stuck using only cash.
I’m a fan of credit card rewards, but I don’t think everyone is responsible enough to use them.
So how do you really decide whether to purely use cash or whether to get some credit card rewards?
Here’s how you can decide for yourself…
Identity theft is a risk that you face on a daily basis provided that you own a credit card and do business online. Every time you purchase an item online, you expose yourself to this menace. Today, identity theft has been identified as one of the fastest growing crimes in the world and the numbers keep on growing almost on a daily basis. We are all experts when it comes to identity theft not by choice but circumstances. Truth is told, with identity theft, the odds are that: you, your friend or your family member has been a victim of the same.
It’s no secret that most people don’t know how to handle money.
Personal finance is one of the primary categories of blogs on the internet today.
That’s because it’s needed. It’s highly needed. And most people don’t even know where to start.
People don’t understand things like the stock market, mutual funds, index funds or compound interest in general. The average person doesn’t keep a budget, and they overspend on a daily basis.
I know you don’t do that, but you may still be wondering why personal finance isn’t taught in schools, and why most people don’t have a clue when it comes to money.
Here’s some insight…
Who doesn’t like to travel?
Traveling is fun and exciting, but it can also be scary and overwhelming if you aren’t used to it. Especially when traveling internationally.
There are many things to know and this guide doesn’t cover everything, but it does show you the most important things that you need to know.
First, here’s what you need to do before you hit the road…or the sky…
Credit is a funny thing. Especially when you start talking to other people.
Some people have all the answers on how to improve your credit, but are they accurate?
Just because something seemed to work for someone else doesn’t mean it will work for you, but there are some standards that you (and anyone else) can meet to ensure your credit score will continue to rise.
Before you get into raising your credit score and cleaning your credit, you’ll want to look at these credit myths.
There’s no reason to waste time on things that won’t help you…
I’ve been there. Over $20,000 in consumer debt with interest rates higher than Cheech and Chong combined.
I remember seeing the offers pouring in to lower my interest rates. This one stuck out:
“0% interest rates on balance transfers for up to 15 months!”
It was a Chase Slate card. 15 months was the longest zero interest offer I could find for a balance transfer at the time. I calculated how much we needed to pay each month to pay it off in 15 months. We applied. We were approved.
It worked for us. We went from paying interest rates of 12%, 15% and even 17% to paying no interest whatsoever. But what would have happened if we would have went over the 15 month mark? Around 23% interest would have happened.
We had to ask ourselves if we were certain we could pay off the account in time, no matter how many unexpected costs popped up, but that’s not all we had to ask. Here are four questions to ask if you’re considering a balance transfer. Two to ask the company and two to ask yourself…
In the modern age, getting rid of debt has various implications. There’s the simple idea of lowering bills, living a debt-free lifestyle or simply putting yourself in a position to save money. But there is also the on-going concern of keeping your credit score intact.
We live in a loan-oriented society and, for most of us, borrowing is critical. We need a car or can do better financially if we buy a home instead of rent sometimes. We want to start a business or pay for tuition to live better lives. These are not frivolous moments. A credit score is critical at important junctions in our lives.
You need some basic understanding of money to understand loans, but in the modern era it also pays to know a few tricks to helping your credit score that go beyond simply, “don’t make late payments, ever.” That’s obvious. But here are some less obvious methods of keeping credit scores healthy…
Runaway debt and credit debt is the new normal. It doesn’t necessarily occur because you spend beyond your means, but can happen as a result of your FICO score dropping whenever you apply for a lease on an apartment, a credit card account, or a car loan. The company that reviews your application will pay a fee to check your credit and these checks are not harmless, but can actually create a dent in your credit score.
Without realizing it, you may end up paying higher interest for everything because of your lower FICO score. This may actually force you to run out of money. At this point, it’s easy to fall into some heavy debt as you scramble for survival.
So, it’s a negative cycle: inquiries on your credit card may lower your FICO scores; these then results in paying more for everything because of higher interest rates. This situation, in turn, may then lead to runaway debt.
In order to arrest this negative spiral, you first have to understand how the credit scoring system works…