Let us create a 3d Digital eBook for you! DigyCat.com
|
||
|
||
|
Credit Information | Let us create a 3d Digital eBook for you! DigyCat.com |
|
|
|
Is Plastic Making You Happier?
If you're like most people, you probably own at least one. And like most people, you've maybe never thought what it's really costing you? At a recent conference held by the Fabian Society at London's Imperial college, one of the issues discussed was happiness, and, more specifically, why it seems to elude so many of us. One of the conclusions reached was that one of the greatest causes of unhappiness in the last 50 years has been people's constant desire to raise their level of material wealth (especially in relation to others who have more). As one speaker noted, 'We're like children on a rainy Sunday afternoon, impossible to please. We have everything and nothing.' You may disagree, but I can't think of a worse modern symbol of this constant craving than the credit card. Yes, I know, they might seem a godsend when payday isn't for another week and a half. Having 'free' money can be a fantastic thing...if you manage to pay it back on time that is... If you're like a great many, though, and only managing to make that minimum monthly repayment, here are 4 things to think about the next time you reach for that piece of plastic? 1 It's very expensive! 2% interest a month may sound like peanuts but that equates to 24% per year. Let's imagine, like me, you lived in the UK, and had an average balance of £8000 on your card... that would mean you were paying £160 a month interest. On the national average salary, that's almost a week's work! 2 It's not your money You're actually paying someone else for the privilege of making you poorer! That hard-earned cash should be in your pocket, not some lender's. How can you remain solvent if you're continually spending money you don't have? 3 Money burns a hole in your pocket If you're like me, I can bet you've met or know loads of people who always seem to have too much month left at the end of the money. Yet, I'll bet you if they earned double or even treble their income, they would still find some way to squander it. It seems to be in our nature somehow. We've all seen those quiz shows where the contestants win big money. What's the first question they're asked? Yep, that's right, 'How are you going to spend it?' I don't recall many replying they would wisely invest it for their retirement. 4 You spend what you don't have Credit cards give you the illusion of being wealthy. Let's face it, if you were handing over a 1000 dollars instead of that little piece of plastic, you might just stop and have a quick rethink. It used to be the case that Gold cards (those ones with the massive spending limits) were the preserve of the wealthy, but the banks weren't too long in realizing that if they gave these out to everyone, they would simply go ahead and spend as if they were wealthy. We seem to prefer illusion to reality, somehow. Way back in the sixties, a French philosopher called Jean-Paul Sartre came up with a concept he called the Practico Inert. Fancy terminology aside, he was trying to explain in a nutshell how humans almost always (and without realizing it) become prisoners of their own creations. He used the example of Chinese peasants who needed wood in order to provide fuel and building materials for themselves. The long-term effect, though, was that the continual loss of trees needed for wood gradually exposed their land to flooding and drought. Likewise, in our modern world, the credit card creates a short-term illusion of freedom and control, but in reality, only makes you poorer and increases your dependency on others. So next time you're tempted to reach for that piece of plastic, stop for a second and have a think about it's true worth to you. Is it really making you any happier, or like so many others, could it be seriously damaging your wealth? About The Author Colin Mc Caig is dedicated to helping others become debt fr#ee and start their own home-based business. Get his fr#ee 6-part mini-course. Learn the powerful secrets to becoming debt-free using only the money you have today. Send a blank email to: mailto:colindebtfre@demandmail.com
MORE RESOURCES: Credit - Google News Photo credit by Jonathan-Hayward of the Canadian Press - Martinez News-Gazette
Bernstein 'deserves credit' after Capello exit - BBC Sport (blog)
7 Things You Didn't Know Affect Your Credit Score - San Francisco Chronicle
TEXT-Fitch publishes second edition of US Retail Credit Insights - Reuters
Europe Bank Risk Premium Vanishing on ECB Cash: Credit Markets - San Francisco Chronicle
An Earned Income Tax Credit Q&A - Seattle Post Intelligencer (blog)
Credit Suisse Reports First Quarterly Loss in 3 Years - New York Times
CORRECT: Fitch Jan Credit-Card Charge-Off Index At 4-Year Low - Wall Street Journal
Credit-Default Swaps in U.S. Reverse Rise as Greece Strikes Austerity Deal - Bloomberg
Republicans Target Tax Credits for Undocumented Immigrants - Fox News
|
 |
|
|
RELATED ARTICLES
Home Loans - Repair Your Credit Before You Buy Before you take out a home loan or make any major purchase, you should be aware that any prospective lender will want to take a look at your credit report. Your credit report is a record of all of your past financial dealings, and any loans, credit cards, judgements, bankruptcies or other major financial transactions are listed there. Credit Cards, Merchant Accounts, and Your Bottomline Q: I'm opening a gift shop and want to be able to accept credit cards. I talked to the branch manager at my bank, but he didn't seem to know much about how it all worked. Top 5 Reasons To Check Your Credit Report Regularly #1 Make sure mistakes aren't hurting your credit.Reviewing your credit report can help you avoid costly errors. Credit Problems? Heres How to Manage Your Creditors If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts.First, prioritize then or rank them in terms of the ones that can give you the most trouble the soonest. 7 Surefire Ways To Repair Bad Credit Do you have a poor credit rating? If so, you are one of tens of thousands of Americans with the same problem. In fact, it seems that this has become a national 'disease. Credit Establishment 101 There will come a day when you need credit. You may want to buy a home or a car and your credit rating will become very important to help make these dreams come true. Credit Card Traps: How To Spot Them On The Spot! They arrive in your mail - a conspicuous looking mail piece from some "official looking" bank claiming that you have been Pre-Approved for a Mastercard or VISA credit card.Of course, you don't have to have any credit. Bailiffs & Council Tax - Knowing What To Do This article is about bailiffs who may call trying to collect Council Tax or Community Charge (Poll Tax) arrears. If a bailiff has contacted you to collect another sort of debt the law might be different. The Things That UK Lenders Like to See on Your Credit File, (and? What They Don't Like to See!) Lenders are quite fussy about what they like to see on your credit report. So much so that you will have a hard time to meet their high expectations. Credit Score - Reporting Your Financial Health Credit score is one of the most basic, determining factor while loan borrowing. Credit score is the criterion for the creditor to ascertain whether to give you credit or not. Understanding Your Rights Under The Equal Credit Opportunity Act It wasn't all that long ago that lenders blatantly discriminated when it came to approving credit for women and minority groups. Women were actually asked personal and demeaning questions like, how many children do you plan to have in the future or are you on birth control?Despite the fact that they were entering the workforce in record numbers, single women were often required to get a cosigner or denied credit altogether. Credit Card Is Adding The Silver Lining To Your Pocket In the new millennium plastic money or credit cards has rendered a new zing factor to your pocket. This has not only made you economically more flexible but subsequently added glamour to your financial image as well. How Does a Creditor Determine Whether to Grant You Credit? Credit 101How does a creditor determine whether to grant you credit? For many years, creditors have been using credit scores and credit scoring systems to determine if you'd be a good risk for a loan or credit card. More recently, credit scores have been used to help determine what rates you pay for insurance. The Art of Stoozing to Make Money from Credit Cards Make Money from StoozingStoozing, this is a sophisticated method of making money from credit cards that offer 0% introductory periods, the method requires cast iron discipline in never spending on the cards.But, I hear you all ask - what is stoozing and can I do it?Stoozing, in the simplest terms is borrowing money from credit cards that offer a 0% introductory deals and saving that money in a savings account for the duration of the offer on the credit card. Different Types of Credit Cards and Features - Part 1 Just as there are too many credit card companies to count, there seems to be just as many different credit cards, all claiming to offer you the best possible deal. Since no two people are alike, not all programs and incentives will work the same for everyone. Making Sense of Credit Card Fees In addition to the APR (annual percentage rate) and the finance charges, most credit cards have a number of 'fees' associated with their use. Some fees are unavoidable with a particular card (like an annual fee or a program participation fee), while others are triggered by certain circumstances. How Do I Establish A Good Line of Credit? A line of credit, roughly defined, is the amount of credit that can be given to a borrower from a lender. Usually a contract or note of promissory is exchanged between the two parties, in which both parties agree to the line of credit amount, as well as the annual interest due to the lender at the end of the term. Making Sense of the Information in Your Credit Report If you've ever applied for a credit card or loan, you'veprobably had your credit report reviewed by the lender. Yourcredit report has a huge impact on your financial future, soit's well worth your time to be sure that you understand whatyour credit report says about you. Collection Agency Secrets for Collecting on Bad Debt Getting worried that one of your clients, customers or patients will never pay? Have you given up on a customer who's essentially said he won't pay? Congratulations--being stiffed by a customer or patient is a milestone in the growth of a business or medical practice. But even the most hopeless of bad debts can sometimes be collected-collection agencies have been doing it for years. Credit Help For Renters And Others On The Horizon Sue is a homeowner and pays her mortgage and other bills on time like a good credit consumer. Sue's on-time mortgage payments are reflected in her credit score profiled by the three major credit bureaus; Equifax, Experian and Trans Union.
|
|
Looking For Royalty Free Photos for your Website, Business or Advertising?
YourFree.biz Domain Is For Sale - $5,000 For Enquiries eMail Us © www.YourFree.biz 2011 |
|
