Hazards of Having A Credit Card – Are You Trapped?

Hazards of Having a Credit Card

Having a credit cardMy grandparents taught me something when I was young; paying for everything with cash keeps you out of debt.  Their philosophy was that it’s too easy to get in over your head and mismanage money if you are using a piece of plastic. They called this debt the hazards of having a credit card.

It is very easy to overuse and misuse a credit card.  Here are the following ways:

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Disposable Credit Cards

Disposable Credit Cards – A Smart Money Choice

Use disposable credit cards Disposable credit cards are also known as pre-paid cards.  Pre-paid cards do not require good credit to get.  In fact, these credit cards are not even linked to your credit report.  There are multiple cards to choose from; grocery stores, gas stations, pharmacies, Walmart, and Target all carry them.  Pick which one suits your needs, load money and use it wherever they are accepted.

Disposable credit cards are handy when traveling.  I’ve had my credit card number stolen before while traveling so I now go to great lengths to protect myself and my financial information.

These are great options for children or adults that are beginning their journey into learning money management.  While they will not help you build credit, they will not hurt your credit. View full post…


How To Pay Off Debt

Important Tips on How to Pay Off Debt for Young Adults

Learn how to pay off debtDebt has become so commonplace it almost seems like the American pastime.  Many people buy what they want and worry about how to pay for it later.  Not surprisingly, young adults are accumulating debt rather quickly and feeling the effects of the extra burden.

Debt caused by student loans is on the rise.  Between 2007 and 2012, individual debt increased by nearly $5,000.00.  This is a significant amount considering how little the average college student makes in wages.

Feeling the pressure of stress, young adults are realizing the importance of gaining control and learning how to pay off debt.  They are taking active steps to resolve outstanding balances on their credit cards, paying off their mortgages and car loans earlier, and reducing or eliminating other forms of debt.

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Personal Finance Software – Do I Need It

Personal Finance Software – Do I Really Need It?

Personal finance software Are you one of the many Americans that are trying to find a better way to manage money? If so, personal finance software may be your answer. Do you ever wonder where your hard earned money goes? Same answer. Are you one of many that has more month left at the end of your money instead of more money left over at the end of the month?

Well, there is a fairly simple solution to your problem, at least in being able to track your spending and budget your money properly. We all hear from those individuals who create an exotic spreadsheet in Excel and claim that is all anyone needs. That may be true for a few individuals, but for the majority, a good personal finance software program is a much better solution.

For some individuals, it may take a little longer to get the personal finance software program setup, but let me emphasize, it most certainly is worth it. The first thing that you will do is create a budget of your income and expense categories.

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Teaching Kids About Money

What Teaching Kids About Money Is All About

Teaching kids about money It’s quite evident that teaching kids about money as well as the importance and need for money, should be done as they observe their parents using it. One of the best methods to teach a child about money and the value of a dollar is to show them the different ways a dollar is used, and it’s a good idea to begin when they’re young. Many understand a lot more than you realize.

Not only should we be teaching kids about money, but more importantly, they need to understand that money is earned, and not simply given for whatever reason. Items that we need in every day life, whether they be a product or a service, are exchanged for money, with the value of the exchange determined by the seller or provider. The only way that a product or service can be purchased without money, is to View full post…

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