Search results for credit cards
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Posted
Oct 02 2007, 09:45 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
An admirer of America's cheapest family recounts the lessons he's learned from the Economides clan, a married couple and five children who live on $35,000 a year (and paid off their house in nine years) in Arizona. Teamwork, organization and an unwavering commitment to make frugality a lifestyle (these folks don't use credit cards) work, and even the smallest savings add up.
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Posted
Oct 04 2007, 09:48 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
Sam’s Club thinks I deserve luxury. Specifically, the retailer thinks I deserve a pair of Granny Smith apples dipped in caramel, rolled in pecan pieces and drizzled with three kinds of chocolate. This particular luxury would cost me $18.22 -- plus shipping, since it’s available only online.
The two-piece treat was one of several items highlighted in an e-mail whose subject line read, "Luxury You Deserve At Sam’s Club." That got my attention because I’d just read a review of a new book called "Deluxe: How Luxury Lost Its Luster."
Back in the 19th century, the "luxury" trade was small and aimed squarely at European aristocrats. Now it’s big, big business and marketed to the middle class. For example, the author mentions a secretary who’s saving to buy her second Prada bag.
She’s putting money aside to buy a purse. She’s not saving for a down payment on a home, startup funds for her own business, tuition to further her education or, God forbid, retirement.
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Posted
Nov 01 2007, 02:25 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Guns and credit cards have things in common , writes Patrick at Cash Money Life : Both can be used to good effect , and both can produce dire consequences if used improperly. In one of the more engaging posts we've read about credit cards and personal responsibility, Patrick argues that guns don't kill people and "credit cards don't put people into debt." He adds, "But the minute you begin to misuse them , devastating results can and will happen." Patrick writes that he's not a gun owner or a member of the NRA. He's a former service member who respects "their usefulness and their power." He's also a guy who pays off his entire credit card balance every month.
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Posted
Dec 10 2007, 07:43 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from J.D. Roth at partner blog Get Rich Slowly. Twenty years ago I was a freshman in college. I was a poor kid from a poor family, but my roommates came from wealth. In order to fit in, I went out and picked up a department store credit card. I bought some new clothes, an electric shaver and a bottle of cologne. From that day on, I've been in debt. My debt grew slowly at first. The department store credit card had a $500 limit. I knew that I shouldn't come close to the limit, and that I should pay the card off, but within a year I'd maxed it out and was making only minimum payments. By the time I graduated from college in 1991, I had acquired two additional credit cards. I was glad I had them, too. When my job plans fell through, the credit cards became my emergency fund. I lived off them for months. I also bought a brand-new Geo Storm. Within six months of graduating from college, I was unemployed and carrying $20,000 in debt.
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Posted
Dec 28 2007, 05:55 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Trent Hamm at partner blog The Simple Dollar. I often get notes from people who have a small mountain of credit cards. They're trying to figure out which ones they should keep and which ones they should cancel, and they're rightfully concerned about their credit score if they do that. A wallet full of credit cards can be a problem: You have more opportunities for identity theft and, with so many credit cards, your total line of credit may be high enough to hurt your credit score. There are other issues, including extra paper management and an unreasonably fat wallet. If you have a mountain of cards, what should you do to trim them down? Here are my recommendations:
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Posted
Jan 03 2008, 03:03 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Have you had a bad day? You might feel better if you read the tales of two personal-finance bloggers who were caught in bureaucratic nightmares. The hospital told One Frugal Girl three hours before a scheduled medical procedure that her insurance wouldn't pay for it, even though the insurance company had said it would. The headline on her post says it all: "Another horrific day at the hospital." Lynnae's lament at Being Frugal is about credit cards. She was charged a late fee and assigned a higher interest rate because she made her payment too early.
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Posted
Jan 25 2008, 05:54 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Trent Hamm at partner blog The Simple Dollar. This morning, I sat in the restaurant at my hotel, eating breakfast. I've stayed at this same hotel many times, and I couldn't help but remember things I'd done on past visits. I remember spending money several times like it was water, going out to eat at ridiculously expensive places. In fact, they were often so expensive that my organization would refuse to reimburse me for the meals. I remember more than once having a credit card rejected on the hotel grounds. Three years ago or so, I stood in the lobby, fishing around in my wallet for a credit card that would work and enable me to pay my bill. I finally had to call a secretary at my place of employment and have that person read off a credit card number so I could pay.
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Posted
Jan 25 2008, 08:37 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from freelance writer Abby Freedman, daughter of Smart Spending blogger Donna Freedman.
Deep, dark secret time: My mother writes for Smart Spending and I am in credit card debt. Assuming you haven't fainted dead away, let me explain. My fiancé has an inherited calcium deficiency that's been exacerbated by treatment for a couple of other health problems. His teeth were literally crumbling away by the time I met him. Last spring, he made an appointment with an oral surgeon and a denturist.
Since we didn't happen to have the needed $8,500 lying around, we started researching credit card deals. We wound up putting about two-thirds of the cost on a new credit card that offered 0% percent interest for six months. The rest was paid with "convenience checks" from my existing credit card at 3.99% for six months.
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Posted
Jan 28 2008, 06:46 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from J.D. Roth at partner blog Get Rich Slowly. Sometimes I wonder: Have I always had personal-finance conversations all the time? I don't often initiate them, but money seems to be a constant topic, even when people are unaware that I write about it every day. For example, I met with a fellow who needs some boxes to ship his woodworking products. (By day I am the sales force for my family's small box factory.) My customer gave me a tour of his shop, showing me his doll beds and myrtle clocks with obvious pride. "When I retire in a few years, I want to spend my time doing this," he said. "I love it." After we'd measured his products and determined what kind of boxes he needed, we began to discuss payment terms. "Now, do you guys take credit cards?" he asked. "We don't," I said. "We're not set up to handle them." He sighed. "I guess I can pay by check. I should be able to pull the money together. It's probably for the best anyhow. That interest will eat you alive." "Oh, I know," I said. He took a sip of his coffee and then told me his story.
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Posted
Jan 10 2008, 04:59 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Earlier today we almost bought blogger Ana's line that she needs "Investing for Complete and Utter Idiots." That is until we came across The Great Credit Card Debate between Ana, of DebtFree-Revolution fame, and Madison of My Dollar Plan. If you need a solid education about the slick ways of credit card companies, read Ana's first post in the debate. You'll learn all about double-cycle billing, rate jacking and universal default, plus the "move-the-due-date game." Little Ms. Clueless she's not. And neither is Madison, who counters with "25 reasons to love credit cards."
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