Good Debt/Bad Debt: Getting a Handle on Your Money

I really love Wikipedia.
They have a very interesting article on "debt."

"Debt allows people and organizations to do things that they would otherwise not be able, or allowed, to do. Commonly, people in industrialised nations use it to purchase houses, cars and many other things too expensive to buy with cash on hand."

That's a pretty standard definition. I wish it were that simple and if you click on the link to read the article, you'll get an understanding of how complicated and complex is. Even religions have something to say about it...

"Islam forbids lending with interest even today, while the Catholic church allowed it from 1822 onwards, and the Torah states that all debts should be erased every 7 years and every 50 years."

Super interesting stuff...there's even an entire article on Islamic Banking.

See? It just goes on and on...I love Wikipedia...it's the greatest, most educating time-waster. Especially when you're at work! (just don't tell my boss!)

Many of us consider debt a negative force, a consequence of bad decision-making and the source of all stress. I mean, who doesn't feel good about the idea of erasing all of our debt? I'd love that!

As we all know that's a totally unrealistic scenario (don't believe the ending for Fight Club, debts can't be erased by blowing up credit card buildings), find some comfort in the positive aspects of debt. With the proper management a debt can build and/or improve your credit which is definitely necessary in today's world. When I finished college, I immediately acquired a debt - my student loan. It's a great debt to carry around because the interest rate is low and fixed and my monthly payments are low. I never have a problem paying it and it's going to be around for the next 10 years, so my credit score can always rely on that. I also bought an affordable car, another good debt to carry around. I was able to make consistent payments.

I don't have that car anymore but I'll save that for another post.

Where I ran into trouble was with my credit cards. I've since had to slice them up. I'm still paying two cards back, one of which I had completely paid off, only to misuse my way back up to $1000+ debt. I'm making good progress on these cards, especially since I joined a credit union and consolidated them into one single, low interest credit card.

If you work for a company that offers credit union membership, for Pete's sake, JOIN! I joined, got my low-interest credit card with a balance transfer and even though I don't work for the company anymore, I'll be a member until the day I die. My girlfriend was even allowed to sign up under me. She's going to be a member forever as well. DO IT!!!!


I'm getting off track. There are several new loans out there that shouldn't be confused with that "predatory" buzz word. Taking out small affordable loans, like Title Loans, can be an easy and safe way to resolve issues of needing immediate money, when need be.

AutoCashUSA.com has more information available on the matter.

Title loans are paid back through inexpensive monthly premiums. The borrower uses his/her automobile as collateral for the loan. A great variable about title loans is that the borrower can keep their car through the duration of the loan. Managing your daily spending habits will help you stay afloat for the during and payback of the loan. Another way to manage your loan is to pay more than the monthly premium, which cuts down your interest and pays off the loan quicker. Payday loans work similarly, and you can read more about this at USAPayDayLenders.com

Paying debt back in a timely fashion is a sure-fire way to establish great credit.

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credit discrimination

With the onset of e-commerce and online banking, online loans are becoming a more popular area of today's lending industry. Because of the nature of most online loans and their applications, one will never have to worry about credit discrimination. It makes no difference how you're paid or what kind of job you have, you can qualify regardless of credit score. In fact, instant loans require very little paperwork. Typically, all you will need to get a loan are a drivers license or state issued ID, a bank Statement with current checking account and proof of income.


Here's a good example of a typical on-line resume from AutoCashUSA.com, a title lending site.

I did a little research and found out that statistics shows the average payday customer is just like well...myself. The Credit Research Center at Georgetown recently did an analysis on payday loan customers and found out that 94% of payday loan customers have a high school diploma or more. The majority of customers are married with children. A surprising 100% of the payday loan customers have steady jobs and checking accounts, which doesn't surprise me since its part of the application requirements.

Online payday loans easily get you from one paycheck to the next. They are a good short-term solutions when the unexpected happens. Think of it as an emergency. Payments are deposited to your account, sometimes within 24 hours or less. Your loan is automatically added and when the loan is up, the withdrawal comes out of that same account as well (so make sure you've got the proper funds in there).

Related links:
Paycheckatm.com
USAPaydaylenders.com
Titleandpaydayloans.com

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Atlanta Police stalk Critical Mass

here's an iReport for my fellow bicycle brethren. if you've ever participated in a good-sized critical mass, you know you're bound experience run-ins with the cops. if you haven't done critical mass yet...what are you waiting for? get out there! the bigger the better!!!

edit...i took the video down because it keeps loading automatically.
so...its on the iReport page...you can visit it by clicking below.

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from http://www.ireport.com/docs/DOC-40338

After many months of peaceful coexistence, Atlanta police decided to pursue and ticket the monthly Critical Mass bike ride. While other cities have had much more confrontational episodes between police and Critical Mass, Atlanta has usually been a very hospitable town for this loosely organized pro-bicycle demonstration. After an article about Critical Mass appeared in the Atlanta Journal-Constitution after last month's ride, there was a sudden, visible shift in APD policy. A phalanx of police was waiting for the riders at Centennial Olympic Park and dogged them all the way through Midtown, Virginia-Highlands, Little Five Points, and the Old Fourth Ward for an hour. While things didn't get particularly ugly between police and the Mass this time, the sudden interest of the law may mark the beginning of the end of a long-standing friendly (and peaceful) coexistence. After many months of peaceful coexistence, Atlanta police decided to pursue and ticket the monthly Critical Mass bike ride. While other cities have had much more confrontational episodes between police and Critical Mass, Atlanta has usually been a very hospitable town for this loosely organized pro-bicycle demonstration. After an article about Critical Mass appeared in the Atlanta Journal-Constitution after last month's ride, there was a sudden, visible shift in APD policy. A phalanx of police was waiting for the riders at Centennial Olympic Park and dogged them all the way through Midtown, Virginia-Highlands, Little Five Points, and the Old Fourth Ward for an hour. While things didn't get particularly ugly between police and the Mass this time, the sudden interest of the law may mark the beginning of the end of a long-standing friendly (and peaceful) coexistence.

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