Yesterday, I couldn’t do it. I could not write an article about all the great things I read during the week. My mind wasn’t right. Today is a brighter day. I even opened my blinds to invite more light into my apartment.
Now is the time most people completely give up on their New Year’s resolutions. If one of your resolutions was an ill-defined “I want to save more money,” then I need you to hold on for a couple more weeks. You can still save more money. I know changing a habit can be really hard, but it’s only been six weeks ya quitter.
For days, I anxiously awaited the March issue of Real Simple. I finally got it on Saturday. In 9 Problem Solvers of the Month, Real Simple answers a popular question for many an on-line shopper: What inexpensive item can I add to my cart in order to qualify for free shipping? Unfortunately, the question is only answered for Amazon. If you are one of the millions who buy from the company, check out Amazon Filler Item Finder any time you’re a few bucks shy of free shipping.
I was immediately drawn to The Worst Financial Advice I’ve Ever Seen From a Major Publication by Erik Folgate at Money Crashers. I love when financial experts say something stupid and a personal finance blogger picks apart the rationale for such stupid advice. The post is in response to Forget the Mortgage, I’m Paying My Credit Card Bill. I don’t fully agree with Erik’s interpretation of the article. The reason I’m linking to the post is because of three comments that are worth reading:
ctreit – Agree with him.
Wojciech Kulicki – Agree with him.
KPalmerFi – Disagree with her. In brief, she borrowed $250K to buy a house and got sucked into a rip off adjustable rate mortgage. She’s paid $90K on the mortgage over the last 5 years, and still owes $250K. Her home is worth 40% less than when she bought it. It’s not fair. Woe is she. What’s the point?
Here’s my position, in brief. If you can afford it, you should pay it. Otherwise, you’re a thief. You agreed to the terms of the agreement. You borrowed $250K. You took the risk. You lost.
However, there are situations in which it’s logical, perhaps not justifiable, to pay your credit card bills over your mortgage. Read the article and develop your own opinions, but let me add, no one is homeless because of bad credit.
Isn’t it funny my last weekly roundup was donned the Valentine’s Day edition when it wasn’t Valentine’s Day? Here we are, on Valentine’s Day, and, with the exception of this little section here, I’ve made no mention of Valentine’s Day. Hehehe. I’m crazy.