Most of us would prefer to discuss just about anything other than our financial situation, especially when that situation includes debt. As reported by MarketWatch, a new survey found that 82 percent of people are reluctant to openly discuss their credit card debts. Further, people are more willing to talk about the personal details of their relationships, the death of a loved one, their salary, weight, and monthly mortgage or rent payment than to talk about their credit card debt.
Matt's View
I don't suggest spilling the beans about your bills with everyone you meet. However, finding one or two trusted friends with whom you can share the details of your debts can be really helpful in getting to a better place. That's why finding an accountability and encouragement partner is number two in my nine-step plan for getting out of debt and staying out of debt forever. I've been sharing the plan in the last three issues of Managing Money By The Book
.
Are you among the 60 percent of households that have a pet? Then you know the dangers of investing in anything that eats! Seriously, though, while pets are usually viewed as a member of the family, there are costs to consider. And if you haven't chosen a pet yet, perhaps a glance at the estimated lifetime costs of various pets in this MSN
article may help guide your decision (who knew that cats cost more than dogs?). Expenses can vary a lot even among different types of the same animal. For example, the article noted that a Great Dane could cost up to three times as much to feed as a typical large dog.
Matt's View
As the MSN article's author stated, comparing prices between poodles and parakeets isn't as cold-hearted as it may sound. Many pets end up in shelters because their previous owners didn't fully anticipate the costs.
Recycling must be getting trendy because the number of places that accept various items for recycling seems to be growing. As reported on the blog Blueprint for Financial Prosperity
, the office supply store Staples will accept old computers and TVs for $10 each. To properly dispose of used batteries or ink/toner cartridges, Staples and Best Buy will take them for free. And for old cell phones, the blog recommends donating usable phones to Cell Phones for Soldiers
. For really old or broken cell phones, drop them in the recycling kiosk just inside the front door of any Best Buy store.
Matt's View
In a related story, TheStreet.com reported on RecycleBank
, an innovative program that rewards recyclers with points they can redeem for merchandise at various retailers. The program operates in Connecticut, Delaware, Massachusetts, Nebraska, New Jersey, New York, Pennsylvania, Virginia, and Vermont.
The article also mentioned two other sources of information on where to find electronics recyclers (the Electronics Industries Alliance
and the Consumer Electronics Association
), two other cell phone recyclers that'll pay you for your old phone ( GreenPhone
and MyBoneYard
), and a company
that will take your old music CDs in exchange for points that can be redeemed for various electronics items.
Several times in this eNewsletter we've discussed the importance of knowing and managing your credit score. A recent MarketWatch article emphasized the point by highlighting five types of organizations beyond creditors who use our credit scores to guide their relationship with us: employers, insurance companies, landlords, utilities, and cell phone carriers. Keeping our score high, mostly by paying bills on time, makes it easier to score a job, and apartment, and the best prices.
Matt's View
A reader recently pointed out how easy it is to go to the wrong place for your credit report. While FreeCreditReport.com aggressively promotes "free" credit reports and credit scores, they're only free for those who sign up for a credit monitoring service to the tune of $14.95 per month. Sure, you can cancel before the first payment is processed--as long as you remember to do so within seven days.
The only place to go for truly free credit reports is AnnualCreditReport.com
. The least expensive way to purchase your credit score - that's right, your report is free; your score is not - is to order it from Equifax for $7.95. You can order it during the process of signing up for your free credit report.
