More Americans Are Saying “No” To Credit Cards
by Erik Folgate
Filed under Consumer News, Credit and Debt
The other day I wrote about an article I saw from a writer at the U.S. News and World Report about the apparent rise in consumers paying credit card bills before they pay their mortgage bills. I called it the worst financial advice I’d ever seen from a major publication. It may not have been “advice”, but rather the writer’s interpretation of data he had gathered and people he interviewed, but the point of it was that the writer NEVER challenged his own point of view. He bought into the idea that maybe it’s better to pay your credit card bills over your mortgage payment. I was more suprised at the quotes from some of the people he interviewed and one in particular was this one:
Americans Are Becoming More Frugal And Saving More Than Ever Before
by Erik Folgate
Filed under Shopping, Spending and Saving
I always find it humorous when I read an article that makes it sound like Americans becoming more frugal is a bad thing. This article from McClatchy reveals that Americans are becoming more frugal and saving at an incredible rate amidst the recession. Of course, less spending isn’t good for the retail industry, because they rely on us to spend money on stuff we don’t need. Or as Dave Ramsey would say, “we buy crap we can’t afford, with money we don’t have, to impress people we don’t like.”
