College luxury tax, changing friends, saving money, money mistakes and improving your credit score.
Broke Millennial — This blogger believes with rising tuition costs and the student loan debacle, it’s imperative that you choose a college you can afford. Don’t pick a college because it has a well-known name or reputation. That name or reputation may cost you more, but it won’t help you pay off your debt.
She says, “Opting into the high-end world of colleges means significantly higher sticker prices (for most).” You can get a great education at a more affordable school, such as a community college. She compares picking a more expensive school over a reasonably priced one to choosing a Louis Vuitton bag over a Coach. That’s your luxury tax. Read on.
Disease Called Debt — When you’re serious about paying off debt, you make many lifestyle changes. You don’t go out as much, you pack your own lunch and make your own coffee, and you create a budget — just make sure it’s a budget that works for you. But what if you have a friend or two that don’t agree with your changes?
This blogger says don’t let their negativity impact you. Just break off the friendship. The blogger had a friend that, “pressured me to keep on spending money.” They did this, even when they knew she was overwhelmed by debt. So she sadly stopped speaking with the friend. Sometimes we all must make tough choices. Have you ever broke off a friendship or relationship for this reason?
Frugal Rules — Saving extra money is not easy. It also gets monotonous. John says he needs “motivation” at times, because the saving journey is long and tiring. In this post he comes up with some typical money-saving methods, such as cutting out cable, dropping the gym membership and eating out less.
But he also has some fresh ideas. One I like is stop playing the lottery. Howard Dvorkin, Chairman of Debt.com, thinks playing the lottery is a complete waste of money — especially the high-stakes lottery like Powerball. Why? He says, “You’re not going to win.” Check out John’s other money-saving tips.
Money Talks News — Marilyn says everyone makes money mistakes. That’s a true statement — but some people make more mistakes than others. If you make too many financial gaffes, you could use this post as a helpful guide.
The third mistake is classic and costly: “Signing up and spacing out.” That’s when you sign up for a service for one month and then forget to cancel it before the month ends. Once that occurs, you get charged an extra month. Marilyn believes some merchants treat this as the “holy grail of business.” After your done reading Marilyn’s post, read this one on the 25 Worst Financial Mistakes Anyone can Make.
Making Sense of Cents — This post by Michelle is very helpful and comprehensive. It not only provides at least seven ways you can improve your score, it also breaks down how your score is calculated and who looks at your credit report and score. Did you know employers often check credit reports before hiring a potential candidate?
If your credit report reveals late or missed payments, there’s a good chance your credit score is poor. And as for that employer, they may choose to hire another candidate. If you have a poor score and don’t understand why, read this post on 5 Reasons You Have a Bad Credit Score.