10 Big Reasons Why I Love (and Hate) Credit Cards

The other day I overheard a couple of nice ladies going on and on about why they loved, loved, LOVED their credit cards.

And let me tell you, they really loved them.

At first, I didn’t understand what all the fuss was about. Like most people, I have a few credit cards in my wallet — but I typically don’t go around extolling the virtues of them to my friends.

You know, the

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100 Words On: Why Excessive Debt Leads to Indentured Servitude

Taking on excessive debt — and continuously spending more than you earn — greatly reduces the wealth you can accumulate down the road.  As a result, your options in the future become greatly diminished because you are essentially spending tomorrow’s wages today.  In short, accruing excessive debt can severely limit your choices in life as you get older, thereby making you an indentured servant to your lenders.

The bottom line: By

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100 Words On: Why Not All Debt is a Four-Letter Word

Not all debt is bad. Debt is generally okay whenever it is used to buy something that may increase in value. For example, going into debt can make perfect sense when you’re trying to start a business, or expand an existing one. Very few people can save enough cash to buy a home in a realistic amount of time without a home loan either. And an education loan can be

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5 Personal Finance Tenets That Aren’t as Smart as They Used to Be

When I was a kid I used to love the fun houses found at summer carnivals and local fairs.

I loved the sense of twisted reality provided by image-distorting mirrors and the wacky side-rooms where water appeared to flow uphill and it was nearly impossible to stand straight.

Today, thanks to an extended period of near-zero interest rates, years of massive government deficits, and central bank “money printing,” we’re all stuck in

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24 Smart Money Tips Everyone Can Learn by Playing Doctor

So … Who wants to play “doctor” with me?

I know what you’re thinking, but you can relax. I promise nobody will end up in the principal’s office after we’re finished here. That’s because this version only focuses on taking a peek at our … personal finances.

If you’re interested in anything more risque than that, you’re at the wrong website, pal. Sorry.

OK, ready to play? Then here we go:

If you show

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Bankruptcy: Financial Suicide or Fresh Start?

There are lots of things that you can do to commit financial suicide, especially when you live in a state with a high cost of living like California. If you do too many of them (or any of the others not listed in that linked article) you can find yourself staring down the barrel of potential bankruptcy.

For some, declaring bankruptcy is the ultimate financial mistake. It’s easy to understand why

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9 Important Money Tips Every Dad Should Teach His Kids

Readers: In honor of Father’s Day, I thought I would repost this message to my kids that originally debuted here exactly two years ago today. It has since become one of my most popular articles (currently ranked 39th out of more than 900 posts.) — Len

Kids, with Father’s Day right around the corner, I hope you don’t mind if your dear old dad takes a few minutes to give you

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Why Some Who Cut Expenses to the Bone Still Can't Make Ends Meet

The other day I was fueling up my car at the local gas station. While I was waiting for the tank to fill, I thought it would be a good idea to get rid of the remains of a ridiculously large bug that was splattered on the windshield.

Unfortunately, the only squeegee I could find was at another pump island that was occupied by a big ol’ cowboy who was filling

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100 Words On: One of the Biggest Mistakes a Household CEO Can Make

It’s been said that failing to plan is planning to fail — especially with respect to personal finances. And although you may be prepared, one of the biggest mistakes any household CEO can make is to abandon their financial plan during extended periods of good or bad fortune. Why? Because, for those who lack the discipline to stay the course, raw emotion may erroneously trump the sound reasoning that was

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Eight Smart Alternatives to Payday Loans

The following is a guest post from Gerrid Smith is CEO of the charity-focused coupon website, Save1. They provide coupons and deals from over 5,000 online stores! Each time a coupon is used, they provide a meal to a child in need.

When you examine the numbers, it’s difficult to deny that payday loans are detrimental to your finances. A new study from Insight Center for Community Economic Development found

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