Credit cards are probably the biggest epidemic ever to hit America. They are a blessing but a curse all at the same time. Your credit report now affects almost all of the things you do to getting a new job or applying for a loan. Plus you have the bad effects of not using a credit card that could leave your credit score way below what it should be. Either way today's society is dependent on credit and how one spends its money. I for one am no exception to this dilemma. While in college I applied for my first credit card and was constantly maxing it out to pay for supplies or go out to eat, or all that other random stuff that I could have budgeted for better and used real cash. Then I got another one, and then another one and pretty soon I was in some serious debt.
Ahhhh debt, the very essence of American society today. It took me some time but I finally saw my flawed ways and took a different approach to money. I started looking into forming a real budget, creating a savings, forming a nest egg. One great read that I would recommend for any woman that wants to take control of her own finances is Smart women finish Rich.
Silly as it sounds it really has some good advise and common sense that we all have but for some reason aren't applying.
Now with the added debts that a marriage inevitably brings with it, I am still struggling to reach those goal I set forth, but I slowly moving towards the right direction. Eliminating over half of my previous credit cards, keeping payments up to date, putting money towards retirement, having several types of savings accounts with different benefits, and working towards the ultimate goal: Having a house, new car, family, and a sizable nest egg for anything that should and will probably come up. This is a pretty lofty goal, but I think with a little self control,
seeing the bank account growing, and having that secure feeling with having your finances under control, I will get there.
What do you think about our society and the financial depression we are dealing with these days?
LKB
too much stuff to read! AHH. I think we should not have any money system and go back to bartering and trading. Cheers
ReplyDeleteI've been trying to save money forever! I'm in basically no debt. I have a great credit score but I can not save money to save my life. I basically have no savings. You figure between three jobs I could save a little towards a house, but between unexpected medical bills or car problems. I can't save one red cent. Sounds like you're on the right track. You've got a good head on your shoulders. Nice work! Like the blog by the way.
ReplyDelete"This is a pretty lofty goal, but I think with a little self control, seeing the bank account growing, and having that secure feeling with having your finances under control, I will get there."
ReplyDeleteThis is something both you and your husband should be reaching for together. When you are married it is a joint endeavor. ;o)