Wednesday Whispers

Money Monday - Credit Cards

Credit card debit is one of the most popular reasons people give when asked why they are not saving money. In reality, it's not the credit card that's the problem, it's the interest rate. The average interest rate on a credit card is 18%. To make matters worse, most people are only making the minimum payment each month. Here's an eye-opening little piece of information. If you have a balance of roughly $12,000 on a credit card with an interest rate of 18% and only make the minimum payment each month, it will take you approximately 33 years and 4 months to pay off that card. And that's assuming you don't charge anything else. The most astonishing fact about this is that it will have ended up costing you $29,616 to pay off that $12,000 balance!

The easiest and most effective way to pay off your credit card balance is to get your credit card company to lower the interest rate. Here are some steps to follow to do this:

1. Find out how much interest you are currently paying (take a look at your most recent statement - the interest rate is usually listed on the bottom of the last page in a table)
2. Find out what rates the competition is offering (this doesn't mean apply for a card with a lower rate. It just means find out what is being offered so you have some data when you call the bank. Check out www.bankrate.com)
3. Talk to someone who can make a difference (call the customer service number listed on your statement and immediately ask for the supervisor of the person who answers the phone as first tier support doesn't have the authority to change rates. Tell the supervisor what the competing rates are, and if your bank doesn't lower your rate, you intend to transfer your balance to the competitor)

Lowering your interest rate means it will cost you less to pay off your credit card debt. This is an important part of earning your financial freedom!

Bulldog Video

Happened across this video and just had to share. I love the underbite and the way her little tongue sticks out. But, the funniest part has to be when the guy filming can't hold in his laughter anymore and the dog looks at him! Gotta' love them bully breeds!

Wednesday Whispers

Money Monday

I've been reading a lot of books lately, mostly of the self-help genre with an emphasis on money & finances. While I am no expert in the area, I thought I would pass along some of the tidbits I read. Couldn't everyone use a little help considering the current state of the economy? So, from this, "Money Mondays" are born!

I am currently reading "Start Late, Finish Rich" by David Bach. This book is full of interesting information and is an easy read. For this installment I'd like to start off with an excerpt from this book. When I read it, I found it to be simple, yet thought-provoking and motivational.

"The fact is, you don't get in life what you wish for. You get in life what you go for.

People choose their lives.
People choose their actions.
People choose their outcomes.
Life is a cause set in motion.
And life is not over until you quit."

The Mighty Lizard Hunter

I was sitting at the computer the other day when I heard our pitbull, Doom, making a fuss at the sliding door. He was stomping his feet and emitting a raspy noise that is part growling and party heavy breathing (I have always been so thankful that Doom is a very quiet dog...doesn't bark at random noises. In fact, he very rarely barks unless he's excited. More often it's a growl, which suits me fine since usually if he's growling, it's because he's heard or seen something outside the house that isn't "right".) I grabbed the camera and took this little video. Oh, how he would have loved for me to open the door so he could chase that fat lizard around the patio! And, at the end of the video when he tilts his head back to look at me, notice the green dot between his eyes. That was from rolling in the grass earlier in the day!

Wednesday Whispers