It's not enough to save. You have to protect yourself from crooked creditors and credit thieves. Credit is not a fool proof system nor is it a smartperson proof system. There are a lot of things that can hurt you if you are not careful. Last year a friend of mine wound up $100,000 in debt with 30% interest. This is practically impossible to pay off if you aren't earning upwards of $200,000. There are places that can help you when you get in over your head though. Rates are more important than how much you borrowed and over how much time you borrowed it because they are what determine the final amount you end up paying. Also, your credit information very often sees the light of day. Even some of your spam mail often has info you would rather not throw in the trash. Make sure you shred all your mail that contains any personal information. Credit burglary proof yourself with the link above just to be sure!
Sunday, March 29, 2009
The World is Not Enough
It's not enough to save. You have to protect yourself from crooked creditors and credit thieves. Credit is not a fool proof system nor is it a smartperson proof system. There are a lot of things that can hurt you if you are not careful. Last year a friend of mine wound up $100,000 in debt with 30% interest. This is practically impossible to pay off if you aren't earning upwards of $200,000. There are places that can help you when you get in over your head though. Rates are more important than how much you borrowed and over how much time you borrowed it because they are what determine the final amount you end up paying. Also, your credit information very often sees the light of day. Even some of your spam mail often has info you would rather not throw in the trash. Make sure you shred all your mail that contains any personal information. Credit burglary proof yourself with the link above just to be sure!
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