The Shopping Nazi

Saving Money One Product at a Time

Do I Need Fancy Cleaners?

It is SuperBowl Sunday! There are going to be a lot of living rooms filled with football fans enjoying the big game. There is going to be some emotional highs and lows through out the game. Drinks and food is going to get spilled. Afterwards there will be some cleaning that need to be done. Depending on wild the party gets will depend on how much cleaning will need to be done. In preparation fo...

Gas Mileage Lies

On morning news there was a sniped about a lady who sued Honda for misrepresentation of their gas mileage. It was in small claims court, but still won $10,000. Interesting! It has become pretty much accepted, by all of us, what the sticker gas mileage would be under ideal condition. I am glad someone has stepped up to say, "We are not going to take it anymore!" When I look at different makes...

Touch Screen Desktop Computers

I first saw touch screens computers in the food processing industry back in the late 90's. Since then the technology and the price has been slowly been dropping. As a result we now see more cell phones with touch screens than without. The overall adoption of a touch screen desktop computer has been slow mostly because of the cost. We are seeing the price going under the $1,000 mark. This makes ...

Social Responsible Buying

Last week the name Foxconn and Apple were in all the headlines. It was not about great profits, or some new electronic gadget. It was about the inhumane treatment of the workers in China. What is interesting to note is that Foxconn does not just manufacture electronics for Apple. Foxconn manufacture over 50% of the electronics sold in the United States. Mistreatment of works or labors misbeh...

Secrets of Shopping Wal Mart

Midday on any Saturday or Sunday, at Wal Mart, finds families and couples getting their weekly shopping done. We are at the end of January. People are starting to recover from the Christmas shopping madness. Walking we were greeted by a your 60 oriental lady. I think it is great that Wal Mart seek to find jobs for elderly on fixed incomes. After a quick stop by the cosmetic section for some...

Search for a Practical Usable Tablet

Since before Thanksgiving I have been slowing giving into the idea of getting a tablet. I have looked at all the major brands of tablets and eReaders. I have been trying to imagine how often I would use it. I watch how other people would use their tablets. While attending a local trade show I noticed a large majority of the vendors were using iPads. There were only a few who had other tablets....

Cruise or Not to Cruise

Here we are at the end of January 2012. Texas is getting heavy rains. Snow and Cold is covering most all of the northern hemisphere. I close my eyes and think of a hot summer day with the sun beating down on may face. Then in an instant, I jump into a nice cool swimming pool. Yes, what better time to plan a summer vacation than when the chilling cold is biting your bones, and the sky is all gloomy...

When Not to File an Insurance Claim

Have you been in an auto accident or had water damage from the washing machine over flowing? Then got on the phone calling your insurance company for a claim that was only for a few hundred dollars. Did you know you do not have to file an insurance claim every time you are eligible to file. If you read your insurance policy carefully, you will find you will be penalized if you file ...

Groupon Coupon Yollar Crazy

I a generally stay away from the whole cutting of coupons. The putting them into an organized folder, and taking this big folder to the grocery store. In addition I get frustrated when I have to look for the brand and size of soda matches my coupon. The few time I did take coupons, I found myself spending about the same amount of money, while getting stuff I would not normally get. It is one ...

Tax Season Cometh

From the end of January to April 15th is the traditional season for getting our taxes done. Some of us procrastinate so much we have to file an extension with the IRS. Accountants, bookkeepers, and those who do tax preparation are busy. In the grand scheme of things we need to pay taxes to we can get services from our government like fire, police, and military. Still we do not need to pay more 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.