January 7, 2000
January 6, 2000
January 5, 2000
Do It, Fool!
Do It, Fool!
January 3, 2000
Do It, Fool!
Consider Financial Software
You're getting your credit cards under control, but what about all those stray ATM receipts in your coat pockets? Do you find that the thought of balancing your checkbook at the end of the month makes you giggle nonstop? Well, fear that feeling of ineptitude no longer, Fool! Get yourself a copy of some financial software, like Intuit's Quicken or Microsoft's Money, and make your nightmares stop. You can keep track of your budget, see where your money's really going by categorizing your expenses, and readily make what you think is in your checking account match reality. Financial software, while not quite as exciting as that new game Rage Blaster 5000, will make your life much, much easier. (Plus, you won't have to worry about the kids seeing it.)
Do It, Fool:
Pay Off Your Loans. Or Not.
We all know the drill: Pay off your debt before you begin investing. But does that mean all debt? What about student loans? Should you pay off all $487,362 you shelled out for that Textiles of the Mods doctorate before you put away anything for your future? And what about the mortgage? Does that qualify as "debt"? Not necessarily, Fool. You should most definitely pay off your high-interest double-digit debt before you begin investing, though. (We're mainly talking about credit cards here.) With the market's historical return of 11% annually for the past 60 years, you won't come out ahead if you let such debt accumulate.
Do It, Fool!
Fly for Free
If you're a traveler, find a credit card that gives back to you via frequent-flyer miles. Then remember what a frequent-flier mile is worth -- about two cents. Say that you need 20,000 miles to fly somewhere for free. Two cents per frequent-flier mile times 20,000 miles equals $400. (For a more accurate price, be sure to factor in the annual fee you must pay to carry the card.) If you can get a flight for less than $400, you may want to hold off on using your miles for that flight and save them for a more expensive flight you may book later.
January 4, 2000
Negotiate a Lower Credit Card Rate
Have a credit card payment you can't pay off this month? Call your lender and ask them to lower your interest rate. Tell them you've gotten a better offer in the mail. (You have, haven't you? With more than 1 billion solicitations mailed out every year, we bet there's one in your mailbox right now. Go ahead and look. We'll wait.) To see which lenders offer the best rates, visit bankrate.com -- a one-stop shopping source for the best credit card to match your needs. (That's cheap rates, not cheap dates, silly.) You may be shocked to see how low (interest-rate-wise) some lenders will go.
Unhand that Gold Card!
Visit the other Fool Year's resolutions.
Out, damn debt! Before you begin your successful investing career, do you have some unfinished business to take care of with your lender? If you're carrying a balance on your card, then you most certainly do, especially if you're paying the national average interest rate of 18.3% per year. Find out how long it'll take to pay off that balance. And then skip the double-mocha lattes until you have that sucker paid off. Oh, the tragic waste that goes towards interest payments...