Comments on: 6 Financial Decisions – Don't Learn The Hard Way

By: Wendy Marino

Wendy Marino — Sat, 29 May 2010 23:56:03 +0000

From my point of view, it does not matter at all.

By: Make Friends, Earn Money

Make Friends, Earn Money — Wed, 09 Apr 2008 18:48:04 +0000

Cutting up your credit card is always a winner in my book. Credit Card companies play on the concept that you should have a credit card for an emergency purchase. But really I ask how many emergency financial situations actually arise that can’t be negotiated. The reality is that credit card companies know that as human beings many of us (and i include myself) are weak when it comes to money and are likely to spend what we don’t have.

By: Ben Austin

Ben Austin — Wed, 26 Mar 2008 21:26:49 +0000

Good article, I must agree with you wholehartedley with regards to the credit cards, as I am a Mortgage Broker, and I speak to people daily who are in financial trouble, mainly because of credit cards. I believe credit is too easy to get these days. The industry is going to have problems in the near future.

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Extreme Savers - My Guest Post | Prime Time Money — Tue, 26 Feb 2008 02:01:43 +0000

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By: Single Guy Money: My Financial Decisions: The Good and the Bad

Single Guy Money: My Financial Decisions: The Good and the Bad — Fri, 01 Feb 2008 07:39:12 +0000

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By: justin

justin — Wed, 10 Oct 2007 20:58:10 +0000

@Debbie M: High income alone doesn’t help your credit. Banks are even baulking at nodoc loans with 20% down these days.

By: Debbie M

Debbie M — Wed, 10 Oct 2007 20:28:24 +0000

For those going on and on about how credit cards are a tool, did you miss the point where the author explained learning the hard way that they cannot be trusted with that tool? If you own a gun and keep shooting yourself in the foot, getting rid of that gun is a wise move, especially in the face of opposition. Once you’ve learned (even though you’ve tried not to) that you lose more with credit cards than you gain, you shouldn’t ignore that knowledge about yourself.

Many decisions that are good for some people would be bad for other people and vice versa. I love these stories, though, because they show us, the easy way, some of the possiblities.

@Danny, my advice is to save 20% for a down payment for your next house. By that time, either a lot of time will have passed, in which case you will have a credit history, or if you have a high income and were able to save quickly, that makes you look good, too. Plus, when you have a down payment of 20%, people don’t care so much about your credit score because if they have to repossess your house, they only have to be able to sell it for 80% of what you bought it for.

Keeping the same job (or increasing your income when you change) is also good for your credit.