Oh My – My Identity Theft Scare

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Oh my….

I had probably one of the biggest financial scares of my life.

I am signed up with a credit monitoring company mostly for peace of mind. I know that if someone tries to do something in my name – I will be notified ASAP and I can stop quite a bit of damage before it occurs.

I got my normal weekly emails, but I got one sooner than normal saying that I have an “alert”. Sometimes that is normal due to fluctuations in my credit balances, but I opened up that email and it said that there was a new birthdate on file for me as well as a new account! I hadn’t opened up a new account and I sure didn’t change my birthday!

I frantically logged onto my account, and breathed a sigh of relief. The new account was due to one of my credit cards issuing new cards (due to expiration dates approaching) and the change in my birthday was due to the lack of using my day of birth by a creditor.

So – everything was fine! If you could see me right now, I am actually taking a break from typing and wiping my brow while saying “whew.”

It may seem weird that someone with as much debt as I have would spend money to have my credit monitored. But I do. It gives me peace of mind, and a bit of power knowing that if something does happen, I am notified almost immediately. I like having that sense of security and peace of mind.

Technorati Tags: credit+card, identity+theft, credit+card+balance, credit+monitoring, credit, email+alert

Society is a Debt-Driven Society

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I was thinking about this the other day – you can’t really get far in today’s society without debt. How many people can buy a car without an auto loan? Or buy a house without a mortgage? Not many. That is mostly reserved for the wealthy or well-to-do folks. But for low and middle-income families, debt is a fact of life.

I guess the main thing is how to have “good” debt and not “bad” debt. When did debt become “good”????

Technorati Tags: debt, debt+society


When I Grow Up, I Want to be in Debt

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I look at my four-year old son, and I realize that I do not have a savings account for his education. I can’t justify at this moment putting money away to save for his college fees when I am paying 16% plus in credit card interest. It makes more sense to use any extra money that I may have to pay down my credit cards.

I do feel bad though. I hope that he can get scholarships or perhaps get grants. I almost wonder if I should start entering him in kid scholarship contests or something. Maybe by some twist of fate my debt will dwindle down and I can finally start putting away something for his education.

Now, I do not want to give my son a free-ride through college. It seems as though sometimes when things are just given to you, you do not necessarily appreciate it. I’d like to help my son, but I want him to work for what he wants as well.

I am truly dreading how much college will cost in 2019.

Technorati Tags: savings, college+savings, debt, college+debt

Almost $37,000 in Credit Card Debt

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I am working on getting all the numbers for the website, and I cannot believe how much credit card debt I have: $37,000.

I think I’ve read somewhere that the average household has $7,000 in credit card debt.

Seeing all these numbers on the internet is such an eye-opener and it is weird. I am as upset as I thought I may be. Rather, I am more motivated. I want to see that number dwindle!

Technorati Tags: credit+card+debt, credit+card

Debt Calculators

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There are great resources on the internet that can help you make financial decisions about your debt. I have provided links to a few calculators that I have found very useful.

If you haven’t found them already, they are in the right left sidebar. If you happen to find one on the internet and would like to share, leave a comment and I will add them to the list :)

Technorati Tags: debt, debt+calculator

The Debt Looks Better on the Other Side

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I’ve heard this before, and I wonder how true it is. When you make more money, you have more debt.

First thinking about that, I ask myself “How could that be??”

But when I think about it a little bit more, I think I can see how that can happen. When you make more money, you get used to a certain lifestyle. That lifestyle can mean accumulating debt in order to maintain it constantly. Just because you make $300,000 a year, it doesn’t necessarily mean you can afford a $50,000 car without taking out a loan.

Now, if Bill Gates has debt, I would be SUPER surprised :)

Technorati Tags: debt, more+debt, bill+gates