Retail Credit Card – When Credit Bites Back

February 20, 2010

You might think a retail credit card would be harmless. And you may be right. But my good friend told me a story about his wife that left me speechless. (Well, not really, because here I am now writing about it.)
In this particular case, the retail credit card actually got his wife fired from her [...]

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American Credit Card Debt – Symptom of a Debt-Based Currency

February 19, 2010

American credit card debt ballooned rapidly in the 90s and early to mid-2000s leaving many families with total combined balances in excess of $10,000. Some used the easy credit irresponsibly, racking up $50,000+ in consumer debt (not even counting car debts).
Then, in the fall of 2007, signs of weakness in the housing market — and [...]

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Personal Finance – Carnival Roundup

February 19, 2010

This week I was featured in both the Carnival of Personal Finance and the Carnival of Debt Reduction.
My post about currency news was featured over on Len Penzo’s blog: The Carnival of Personal Finance CCXLIV – The Fiscally Irresponsible TV Characters Edition
And my post about car debts was an Editor’s Pick on the Reduce Debt [...]

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Credit Card Law – What the New Rules Mean

February 18, 2010

In May of 2009, Congress passed a new credit card law called the “Credit Card Accountability Responsibility and Disclosure Act of 2009.”
It is called the “Credit CARD Act” for short. (Politicians just love acronyms, don’t they?)
While some of the provisions of the law went into affect last summer, most of them go into effect February [...]

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Become Debt Free – The Secret Nobody Talks About

February 17, 2010

Here’s how to become debt free in four simple steps:
First, you need to assess your current financial situation. It’s kind of like going to the doctor for a physical exam, except this time you’re examining your outstanding loan balances, your monthly income, your monthly expenses, etc.
You need to have a clear picture of how much [...]

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