Making Sense of Cents — Retail stores are notorious for offering zero percent credit card deals around the holidays. It makes you think you’re saving a ton. In some cases, you can save money. But like Michelle says, “there are many catches.” That’s why you must read the fine print on the credit card contract.
For example, many contracts state that if you miss a payment or are late on a payment, you must pay the previous months interest as well as the interest going forward. That interest rate could be an outrageous amount. Michelle says 25 percent or more is not uncommon. That one mistake could result in credit card debt you can’t pay off.
Retire by 40 — Retirement saving is a popular topic here at Debt.com. Joe believes that saving the proper amount is vital. He provides nine ways that can help you save smarter. The ninth way is interesting and probably a stumbling block for most Americans.
It is: “Keep lifestyle inflation under control.” Every year, consumers are offered newer and more advanced gadgets. The prices for these gadgets keep going up, too. But, for the most part, our salaries don’t follow that rising trend. He says, stop spending and start saving. Check out his other tips.
Money Talks News — Items at warehouse stores are packed in bulk sizes. You can rarely buy one item, like a box of cereal. You end up buying multiple boxes that you don’t need. That leads us to Donna’s third way warehouse stores make us waste money: Buying too much food.
Shoppers end up wasting produce, cheeses and other perishables because they simply can’t eat it all. Warehouse stores also distract customers with add-on items. You go food shopping and end up buying a TV, dumb pet toys, or as in Donna’s example, a trampoline.
Good Financial Cents — Jeff borrows the Star Wars theme and provides five great financial tips. The second one is: “Learn the Jedi mind trick — but trick yourself.” He says if you’re a spender you have to “trick yourself out of your emotional impulsiveness and into self control.”
If you don’t control your spending, you’ll inevitably go into debt, and then possibly suffer from buyer’s remorse. That’s when compulsive shoppers become depressed because they overspent on unnecessary items. May the financial force be with you.
Money Smart Guides — Credit card use spikes around the holidays. Don’t let that spending damage your credit score. Jon enlightens us on the five major factors that influence your credit score, what damages your score, and more.
He then offers advice on improving your credit score. One simple way is controlling your spending. That’s essential, especially around the holidays. Here are five reasons why your current credit score might be failing.