topic Managing money in General Credit Topics

Managing money

Henrietta23 — Sat, 03 Jan 2009 18:58:10 GMT

I have high FICO scores but I want to manage my money more effectively. I found a wonderful article this morning by Rita Templeton which I highly recommend:

http://www.googobits.com/articles/p0-738-when-you-cant-stop-shopping.html

Message Edited by llecs on 01-03-2009 01:58 PM

Re: Managing Money

llecs — Sat, 03 Jan 2009 18:58:29 GMT

Henrietta23, I split off your post to form a new one to keep the other thread on-topic. I changed the title, but feel free to change it by clicking "options" and then "Edit Message".

Message Edited by llecs on 01-03-2009 01:58 PM

Re: Managing money

Anonymous — Sun, 04 Jan 2009 17:01:06 GMT

I think there are a lot of good types in that article, and I can find a lot of my own previous characteristics in that list, but I have one disagreement. And I see it a lot.

They always say: Use Cash, don't use ATM cards, credit cards, debit cards, etc.

That may work for some people, but it would never work for me. I think a better saying would be:

Find what works for you and use it.

When I carry cash, I spend it like there's no tomorrow, and on stupid stuff, like chips in vending machines, etc. If I don't carry cash and only carry my debit/credit cards. Then I have to record what I purchased and when I feel regret, I can just take it back. Cash, disppears without any record, at least for me.

Re: Managing Money

Henrietta23 — Tue, 18 Aug 2009 22:03:47 GMT

Woopah, I like your words:

Find what works for you and use it.

It has become clear to me that managing money well is a skill. The primary method I have used toward this end so far in my life is trial and error.

Also, I find that using credit cards is important for high FICO scores. The scores would probably go down if we only used cash and it isn't a convenient way for most people to live. I buy a lot of merchandise online using my VISA card -- it is such a quick and easy way to shop. It certainly isn't for everyone, however.

Message Edited by Henrietta23 on 04-01-2009 09:58 AM

Message Edited by Henrietta23 on 18-08-2009 03:03 PM