Credit Cards the American Evil « The Shopping Nazi

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Measure Your Cars CPM not MPG

It was back in August of 2009 when I wrote about figuring what it would cost me to drive my Dodge Caravan one mile. Since then I have come across new information. It seems that I am not the only one who realizes that the old way of measuring a cars efficiency by miles per gallon leaves out too many variables. Since August of 2009, everyone that I have talked with have raised their eye brows...

Foreclosure Don’t Give Up

Foreclosure is a word that has been striking fear, remorse and a lot of negative emotions in virtually every home owner in the past few years. News agencies have been reporting 1 in 10 home owners are facing foreclosure. The most common foreclose is for failing to pay the mortgage. Foreclosure can all happen for failing to do something else not related to money. This can be not adhering to...

Self Improvement with Audible

If you are coming to The Shopping Nazi, you want to improve your lifestyle. You want to be able to get the best possible value with your hard earned dollar. If you know that Audible.com has a large selection of audio books to help you. There are books to help you improve you communication skills, parenting skills, personal finance, and even audio books to help motivate/inspire you to do what yo...

Shopping for Shoes – Intro

Before Sex in the City, it is accepted that women like fancy shoes, with high heels. Men are not any more practical. Men what boot to look and feel macho. Both are not necessarily the best approach to buying shoes. 21st century has taken over, even the shoe industry. I am sure many of you have see the TV commercial that suggests you don't have to go to the gym. All you have to do is wear this c...

Shopping for the Palm Pre

It has been over a year since Palm released the Palm Pre. At that time all the tech reviewers were joking that the Palm Pre was the pre-bankruptcy release for Palm. Well, Palm has not gone into bankruptcy. Three of the four major cell phone carriers offer the Palm Pre. In call seriousness the Palm cell phone is different than the Blackberry, or the many smart phones that use the Android operati...

Shopping for the Chevy Equinox

The Chevy Equinox is classified in what some people want to call "plus-sized crossover, small SUV". This basically means the Equinox is smaller than a full size SUV and larger than your standard crossover. The much advertised feature of the Chevy Equinox is the rear seating and rear storage. 60/40-split rear seat that could be slid almost 8 inches front and rear. In the rear cargo section t...

Money Management from the Mint

Way back in 1995, I remember when I helped a young pest control business get their first computer. We set up their books with a new software from Quicken. Over the years, Quicken has been the only real money management software for personal of business use. Since then there has been several of money management programs to come on the market and many of them leave. Then in 2005, Aaron Patzer sai...

Dean Koontz on Audible

One of the many author found at Audible.com is Dean Koontz. Do you realize you can get his Dean's book Breathless in an MP3, but it on your iPod, or other MP3 player and listen to it while driving to work, or even washing the car, or at the gym. Breathless was #1 New York Times bestseller. Author Dean Koontz delivers a thrilling novel of suspense and adventure. The mystery unfolds high ...

Clear Expectation of Service

Several years ago, I worked briefly at this computer store. The owner would change the terms of service at least once a week, if not more. When I left there the Terms of Service was very fine print on the back of every receipt. The receipt was printed on an 8 1/2 by 11 sheet of paper. This is nothing unusual. Every business has literature that states where their responsibly starts and where ...

Shopping for a 32 Inch LCD

I love sitting around coffee shops, and lounge area. What I over hear is so amazing. Just the other day this guy asked a friend, "Where was the best place to get a LCD TV?" The friend answered quick, "Fred Meyer, they have the best prices." I was so tempted to lean over and ask what empirical data he was making statement. Instead I bit my tongue. Without any ceremony, I got up and walked t...

Credit Cards the American Evil

Posted By: The Shopping Nazi on August 13, 2009 in Budget, Business, Home, Lifestyle - Comments: Comments Off

Is This Your Credit Card?

If you talk to some people they will tell you that credit cards are the reason we have got our country in such financial distress. Spending money we do not have is never healthy. Then paying it back at such a high rate that we have to borrow money to pay off those credit cards.

The truth is I have met very few people who can resist the temptation from the buy now pay later demon. I must admit that there are time having that available credit can be helpful in time of personal disaster. However, it must be used with discipline of the highest order.

For me the idea of giving someone $10 to $20 on borrowing a $100 is a waste of good money. However, the America lifestyle demands that we have at least one credit card, if not more. Otherwise when it comes time to buy a house, a car, or other big ticket item we are turned down, for lack of credit history.

You can always say that if you don’t have the cash then you don’t buy it. Our culture says that it is a noble idea but not a very practical one. Enough look a the social economic impact of credit cards and now let us look at the numbers.

Want the real numbers? Want some good resources? Just log-in as a member. If not a member, you can be one for just $2 per month. Or you can donate $20 and I will personally send you a log-in and password for a one year membership.

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If you absolutely must have a credit card then you need to compare all the different credit cards, rates, you can even apply for one through one central website. CreditCards.com is the place I would recommend as your starting point for you.

Before I buy anything with a credit card, I check calculate how much that item is really going to cost me. An easy way for me to calculate the extra money that I will be spending by using a credit card calculator. It is one way to scare you away from using a credit card.

Now consider using your credit card for a weekend getaway. After lodging, meals, travel, and extras you charged $1,000 on your credit card. You card rate is only 12%. That means when paid off the interest rate is $120. Yes if you paid it off in less than 23 months.

Let us say, when you get home, you got hit with some medical bills, your car broke down, and you forgot about the back-to-school clothes for your kids. Instead of paying $50 per month, like you planned, you can only pay $25 per month to the credit card company. Now that $1,000 will cost you $269. Then if you are late on a payment of two the $269 will go up.

Bottom-line: It takes a great deal of discipline to manage a credit card. If you don’t believe me, look at the history of the United States over the past $50 years.