Credit Repair Blog

It’s Time to Look Out For #1: You’ve Got to Fight for Your Financial Future

A recent article in the Wall Street Journal gives the following dire advice to Americans:

Cut everything.

Drop your cable package and TiVo. Say goodbye to Applebee’s and Starbucks. Cancel the ski trip.

Slash every single penny you possibly can from your household budgets and start building up cash.

Yes, I’m serious. The shocking collapse of the rescue package on Capitol Hill threatens a disaster on Main Street. Unless this gets reversed almost immediately, it could turn a slowdown into a slump, and a slump into a depression.

Now, we don’t necessarily agree that the financial disaster on Wall Street is going to lead to a depression, but we agree that Americans need to start looking out for their own financial future.  You can take a few baby steps and stop drinking that $5 Starbucks grande latte each day, or you can adopt better credit habits and save thousands of dollars each year by improving your credit score.

Me?  I like my $5 grande latte (low fat, of course).  I’ll keep paying a few bucks each day to Starbucks because I enjoy their coffee.  But I refuse to pay the fat-cat bankers extra for the privilege of using a credit card.  Good credit habits are easy to start, and easy to keep, especially once you realize how much money you can save.