Managing money

[Henrietta23]

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

[llecs]

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

[Anonymous]

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.

[Henrietta23]

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