Tag: Credit
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Chapter 37: Debit or Credit?
Pros and cons of using debit and credit cards. Debit card risks include delayed refunds and fraud, while credit card risks include overspending. Credit cards offer rewards and fraud protection, but may not be suitable for all transactions.
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Chapter 35: More Money More Problems?
Ice Soup? Why is it that 55-63% of Americans are living paycheck to paycheck? It doesn’t seem that the problem is income, since about 40% of earners above $100k are living paycheck to paycheck. What causes these issues? Anyone earning less than $50K a year would be blessed to have an extra $50k. Lifestyle Inflation…
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Chapter 34: Financing
When does it make sense to finance? Have you ever been in a situation where you have the capital available to pay something off, but you’re not sure if you should? Maybe it could be a small car note or a personal loan. When does it make sense to finance: The typical rule for me…
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Chapter 32: Credit Scores
Big Banks Control My Scores? Having a good credit score is a successful way of proving that you can pay back your debts. It rewards good borrowers by giving them a discount on interest, access to premium credit cards, and larger lines of credit. Many people seem to disagree with this system and calling it…
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Chapter 25: Minimum Payments
Generosity or Genius? Minimum payments are a great way for your credit card company to make money. The longer it takes you to pay them back, the more they can charge you in interest. For perspective, sometimes a minimum payment only covers the interest charge and will probably scrape very minimal off the principal balance.…
Money Ain't Sh*t 