Credit & Debt Management
You don't need a credit card, and getting into debt is not the answer. Your VISA card is not your friend, and your banker is not your buddy. Accepting credit and debt as a part of your life will lead you to spend more than you have, want more than you need, and feel that you never have enough. Now that you understand my position on credit and debt, let's get you educated on what you need to know about both of them, namely how to quit your use of credit and eliminate your need for debt.
When I see questions such as, "Should You Pay Taxes by Credit Card?" on other so-called personal finance websites, it lets me know that the message has still not sunken into many people's heads. Cash = Good, Credit = BAD. They either don't know how to use credit properly (credit card applications are one of the best sources of free paper for starting a cheery fire in your fireplace) or they just don't care that they're doing something stupid.
While I am a fierce advocate of eliminating the use of credit and debt in your life, I also believe that most people are at a point where merely getting out of the credit trap requires education about credit. As Sun Tzu said in The Art of War, you must understand your enemy in order to defeat him. Credit is definitely an enemy if I've ever seen one, so learn all you can about it.
Credit 101 is a good place to start for those who are just beginning their use of credit. If you thought credit cards were all about buying now and making small payments later, you've got a few surprises coming.
Before you apply for your first credit card, make sure you understand the Credit Card Basics. I've also included lots of advice on how to tame your VISA spending in Using Credit Cards.
Did you know that you can get a free credit report? This and other tips are found in Credit Reports & Scores. And, while you're concentrating on your credit report and score, learn a little more about Building Credit
The use of credit comes with pitfalls that everybody should know about. Learn more about these and how to avoid them in Everyday Credit Issues.
If you've succumbed to the credit trap, you'll want to read about Credit Repair. The biggest part of credit repair is learning how to avoid getting into the same trouble with credit a second time. If you can learn the proper habits with credit, you'll never get in trouble with it again.
The popular saying goes, "Cash is King." The opposite is also true: "Debt makes you a slave." Avoiding Debt is the first step to making sure that you never sell yourself or your paycheck into slavery.
If you've already sold yourself into debt slavery, Reducing Debt can help you become the king of your domain once again. You'll find tips and tools for more easily getting yourself out of debt.
If you've failed to keep up with your payments, Debt Collection can inform you about how to deal with creditors who may be hounding you, and to work your way out of the vicious debt cycle you're probably in.
Given the increasing occurrence of identity theft, Privacy & Security is becoming more and more important. You'll learn about how to safeguard your identity and privacy, and make sure you don't become a victim of identity theft.