by David Ursino Throughout the year, we’ve had a really strong seller’s market. There hasn’t been a lot of inventory and interest rates have been really low creating a lot of demand. That’s created a lot of multiple offers. Often times, the listing agent will set a specific date for the offers to come in […]
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Southern California home prices are falling, eroding equity homeowners could spend on renovations or emergencies. People who bought at the peak are particularly nervous.
Emergency savings. Building one can seem daunting for anyone living paycheck to paycheck. When I was 27, I went to an outlet mall because I just felt like getting something new. I remember being pretty happy with the jeans and shoes I found. I also remember calculating in my head that payday was two days
The post How to Build an Emergency Savings Fund appeared first on MintLife Blog.
It’s back to basics month at Get Rich Slowly! Today, we’re going to take a l-o-n-g look at how to use credit cards wisely. Believe it or not, credit cards can be a useful tool — so long as you don’t fall into debt.
For a long time, I thought credit cards were evil. Starting in college, I abused credit cards. As a result, I ended up deep in debt. Those two decades of debt sucked, and they led me to believe that credit cards were dangerous.
Well, credit cards are dangerous — but they’re not evil. Credit cards are a tool. Like any other tool, credit cards can be used to build or to destroy. Just as you’d treat a chainsaw with respect, you need to be careful with credit to avoid hurting yourself. If you use credit cards wisely, they can actually give you a financial edge!
Because this is a long article, I’ve create a table of contents so that you can jump to the section you need. (Or, you can read the entire thing, of course.)
Table of Contents
- How credit cards work
- Why use a credit card?
- Essential credit card skills
- How to use credit cards wisely
- How to choose a credit card
- How to dispute credit card charges
- How to cancel a credit card
Survey of Consumer Finances. The latest study, from 2016, found that:
Clearly, lots of Americans continue to struggle to use credit cards wisely.
That said, not everybody who uses credit cards goes into debt. In fact, the Survey of Consumer Finances shows that over half of Americans use credit cards without going into debt. They treat them as a convenience.
True story: Last year, I went into a bank to apply for a new travel credit card. During the half-hour process, I chatted with the banker. “We banks don’t like people like you,” he told me. “I’m sure you’re a nice guy, but you pay your bill every month. We don’t make any money on you. Fortunately, 90% of people who use credit cards suck with money!” He told me banks are willing to lose money on the handful of folks who use credit cards wisely because they make so much money on the people who abuse them.
We had a chilly experience in winter 2020. But thankfully, our emergency fund helped eliminate any stress from an otherwise bleak scenario.
Speaking about building wealth, J.D. Roth felt that he could never make this point emphatically enough: “Frugality is important, but if you want to make real progress, increase your income.” It’s in this context that being able to ace an interview becomes a very important skill. And certainly part of the interview process should include your asking questions of a prospective employer to make sure that the job and the company are right for you.
If you are early in your career, though, it is natural to approach a job interview as if it’s a test that you might or might not pass. But this perspective could lead to some undesirable results:
Here are three more ways having a test mentality can affect how you conduct your interview and some strategies for how to avoid potential missteps.
If you’re in your 20s and looking to learn about saving for retirement, this post is for you! Find out what a 401k plan is and how it works.If you’re in your 20s and looking to learn about saving for retirement, this post is for you! Find out what a 401k plan is and how it works.
The post What Is a 401k Plan and How Does It Work? appeared first on Money Under 30.
House flipping can be an amazing business and I love it! I have been flipping for almost 20 years now and flipped over 200 houses. I have flipped more than 100 houses in the last five years and I don’t see myself ever stopping! However, it is not easy to fix and flip a house … Read more
A HELOC, or home equity line of credit, can be a valuable financial too for homeowners. If you’ve just become a homeowner, you have many reasons to celebrate. Owning your first home is an exciting rite of passage. This dream come true comes with its own set of responsibilities, as well as benefits. One of […]
The post Pros and Cons of a HELOC. Savvy Financial Management or Just Another Debt Trap? appeared first on Good Financial Cents®.