Credit cards, old cars, money smarts, the Green Acres syndrome and more.
The Green Swan – The Green Swan says credit card users “are not required to pay off their bills in full” — and that’s the problem. Many people spend money they don’t have. The result is spiraling debt. And don’t forget about the interest, which makes matters worse.
The Swan discusses the problems with making only the minimum payment, credit score repercussions and personal loan scams. It’s an interesting read. You can also read this one: 6 Ways To Successfully Get Out Of Debt.
My Money Wizard – Here’s a crazy stat the Money Wizard dug up: “This year, the automotive industry will spend $44 billion convincing you to buy a car.” No other industry spends as much. And they have one goal in mind: Getting you to spend money.
This post examines why new cars are appealing but also why they’re mostly a sham or an attractive gimmick. It also discusses an old car’s allure and value. But if you’re set on buying a new car, find out if you can afford one.
Money Talks News – The International Survey of Adult Financial Literacy Competencies believes “Adults from many regions of the world struggle with financial knowledge, behaviors or attitudes.” They proved that by quizzing over 51,000 people from different countries.
Only 56 percent of the participants attained the minimum score. You can test yourself by reading this post. By the way, the United States did not participate. If you’re in a quiz-taking mood, take this one: What Can’t You Buy with a Credit Card?
Red Debted Stepchild – We’ve discussed compulsive shopping and its devastating impacts. Luke highlights four shopping habits that actually promote compulsive shopping. The first one is interesting and one I didn’t think about: “Aisle shopping.”
When you’re food shopping, exploring every aisle is dangerous. Why go down the aisle that features breakfast items like cereals, bars, coffee, etc. if they’re not on your list? You could end up buying things you don’t need. Check out the other damaging habits.
The Retirement Manifesto – This is a fun post. If you’ve never seen Green Acres, a 1960’s TV classic, Fritz explains the show. Besides mentioning the show, this post is about how you can escape the rat race and retire comfortably.
He discusses retirement planning, transitioning from working in the city to living in the country and more. You may not share Fritz’s “Green Acres” retirement vision, but you’ll learn from and enjoy his post. Read this post on: Is Saving For Retirement Over-Rated?
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Article last modified on June 21, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: Around the Web: Money Smarts - AMP.