100 Words On: Why You Should Never Cosign A Loan for Anyone

Cosigning for a loan is one of the dumbest financial moves you could ever make. By cosigning, you not only assume liability for the borrowed money, but you also make it tougher on yourself to qualify for large loans — regardless of your payment history — because lenders still include cosigned loans as part of your overall debt load.

The bottom line: If a lender refuses to loan money to

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100 Words On: Why Lazy People Shouldn’t Automate Their Finances

Millions of successful household CEOs automate their finances in order to save time and money, and help them reach their financial goals. For example, prepaying your utility bills, the mortgage and other loans helps eliminate late fees and postage. And paying yourself first is painless when you make weekly or fortnightly automatic paycheck deductions to your IRA or 401(k) retirement accounts. However, computerized systems still make mistakes — that’s why it’s

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100 Words On: Runners and Pedestrians Who Refuse to Use Sidewalks

“Go play on the freeway!”

While nobody would ever take that derogatory command seriously, there are plenty of joggers and pedestrians who have no problem tempting fate by literally spending their leisure time on city thoroughfares despite the presence of perfectly good sidewalks. Incredulously, many of these folks insist on doing so with pets or, even worse, babies in tow — often two abreast, donning headphones, in the black of night,

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100 Words On: Why You'll Never Get Rich Working for 'the Man'

Many folks who work for others love to complain about the professionally unsatisfying nine-to-five grind of their daily job, yet refuse to change the status quo. That’s because the perceived relative safety of their steady job — and the guaranteed weekly paycheck that ultimately comes with it — is usually enough to keep them on the hamster wheel, even when the job is stifling and unfulfilling. True, that strategy may ensure

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100 Words On: Why You Should Never Buy a Timeshare

No matter what that slick salesman tells you, vacation timeshares aren’t a good deal. Surprised? Don’t be. Many timeshares owners lose the freedom to vacation wherever and whenever they choose — or even skip one, considering annual maintenance fees currently average $731. Timeshares are also notoriously overpriced to cover sales commissions approaching 35 percent and marketing expenses for prizes used to lure potential buyers suckers. Maybe that’s why timeshares depreciate faster

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100 Words On: Why I Hate Slow Drivers Who Cruise in the Left Lane

In North America the left lane is designated for passing, intended for the highway’s fastest traffic. It’s a concept that evolved with the birth of the US Interstate Highways. Unfortunately, too many drivers today feel entitled to cruise in the left lane as long as they’re traveling the speed limit. This selfish practice is not only legally dubious, but also obstructs the free flow of traffic. According to the National Motorists

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100 Words On: The (Second) Best Stock Market Investing Tip Ever

Buy low and sell high; it’s the ultimate investing tip, although never easy to execute. That’s why it’s so important to control the risk that comes with investing. One way is by having an exit strategy in place whenever you take a position on a stock, bond or any other investment. That is, establish pragmatic predefined selling points — for both a profit and a loss — that take emotion out

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100 Words On: Why It Pays to Never Give Up

Believe it or not, J.K. Rowling’s manuscript for Harry Potter and the Philosopher’s Stone was rejected by the first 12 publishers she approached.

Walt Disney was fired from the Kansas City Star because his boss thought he lacked creativity.

R.H. Macy opened — and closed — four businesses over a 12-year period before finding success with his Manhattan department store.

And Colonel Sanders was turned down 1009 times over a two-year

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100 Words On: Why You Should be a Parent, Not a Best Friend

Whether they know it or not, children depend on their parents to say “no” and make tough or unpopular decisions for their benefit. Unfortunately, it’s impossible to effectively enforce rules and boundaries without running your household like a dictatorship. That’s why I’m continually bewildered by parents who brag that they’re best friends with their kids; the roles are mutually exclusive. Parents who insist on being both blur the line of authority

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100 Words On: The Dumbest Place Where People Use Credit Cards

Responsible folks love the plastic in their wallets because credit card benefits simply can’t be matched by cash. However, there are several places where credit cards shouldn’t ever be used. Financially speaking, one of the most expensive mistakes any consumer could make is to use a credit card to withdraw cash from an ATM. Such transactions typically come with an onerous cash advance fee of four percent or higher. Even worse,

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