Americans are two trillion dollars in debt.  Credit, the ability to borrow money, can be very dangerous.  In short, it’s spending money today that will be tomorrow’s income.  Most economists would say that credit is an important part of the ability of individuals, families, cities and ultimately nations to function in a financial […]

The problem with easy credit is that banking institutions are always willing to give you more money than you have the ability to repay.  If you need to borrow a thousand dollars for an unexpected need because you have not set aside dollars for that purpose, the lending institutions will try to give […]

Why I Pay With Cash
….and why you should too!
1.     If you pay cash, you are likely to be more careful in your purchase.

You may not make the purchase at all.
You may delay the purchase until you have enough cash.
You may decide there are other priorities for you cash.
You may press the vendor for a better […]

Manage Inquiries into Your Record
The more often someone asks a credit bureau about you, which happens whenever you apply for a loan or a new car, the lower your credit score will be.
Recent rules for lenders require them to count all inquiries for the same purpose during a one month period (all inquiries from mortgage […]

Close Accounts You’re Not Using
Before you apply for an important mortgage or car loan, you’ll want to close dormant accounts. Be careful, though, not to do it too quickly. If you close them all at once, your new lender might assume you’ve hit the financial skids. Close one or two a month (including department store […]