Monday, May 31, 2010

Cash Money

All right youngsters. It's time to pay attention to your finances. But it isn't easy is it? It's so much easier to ignore the fact that you incurred debt.


Joe Bill-Collector finds you. And good ole' Joe won't back down. But how did you get yourself in this predicament? I'll tell you some sure fire ways to avoid Joe calling you at your work and threatening to kidnap your first born if you don't pay your credit card bill.

1. Don't get in debt. Just don't. Unless it's for something useful. What's a useful debt?

-Reasonable/useful automobile (not that new Audi you want)
-A house
-A college education

But be careful...there are traps in these debts mentioned above. Truly think about whether you can afford a car payment. Also, don't incur extra student debt unless you're planning on using if after college as a low interest loan to pay for a home. In which case, you probably don't want to tell your loan counselor that you really don't need $20,000 for college but only $2,000.

2. Stop eating fast food. It's SUCH a waste of money. And I'm of course a hypocrite on this subject. I signed up for a account and realized that in the month of May alone I spent $122.00 on fast food. That's ridiculous!

3. Avoid ATM Fees. I've also accrued $33.00 in those fees in the past five months.

4. Invest, but invest smart. I haven't yet walked down this path but I will soon enough. It's good to have a little money in the market and know how it works.

5. Finally, don't ignore what is going on with your finances. Don't intentionally not pay a bill. Work with the company to figure something out so you can INCREASE YOUR CREDIT!


Visit for some good ideas on how to manage your finances and see trends in your spending.

Good luck!

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