You Lost $24 Billion In 16 Days Mr. Government?

According to the USA Today (10/18/2013), the 16 day Government shutdown cost the economy jobs, delayed mortgages, and lost retail sales.  The numbers aren’t fully in yet, but it is purported to be at least 12 billion dollars and possibly as much as 24 billion dollars for the stalemate that took place in Washington, D.C. over the past several weeks. As a 22 year veteran financial advisor, you don’t advise someone to take out a Target store card right after they have maxed out their Sears and Nordstrom store cards.   We all know that piling up lots and lots of credit card debt is simply an unsustainable way to manage a financial budget.  What we all don’t know today is when the balloon will burst. It’s not a smart money move to lose 12 billion, let alone 24 billion, but I’ve come up with my list of things that we could have done with 24 billion. We could have handed ...

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5 Ways To Save Money At Department Stores

Gasp! Gasp! There’s nothing worse than having a white coated clinician spray some newly branded perfume on to a card and waft in your face as you gently stroll through the front doors of the department store.   You can get lost in a department store.   Some of them have three or four floors or if you take a trip over the pond to London take an afternoon to enjoy the ultimate department store in Harrod’s.   We shop at different department stores for different reasons, but here are five smart money moves tips for you if you choose to spend an afternoon trolling through racks of clothes and up and down escalators looking for a bargain. Start At The Clearance Racks– The upscale department stores are chock full of great merchandise.  Unfortunately for you, they don’t put it in the front of the store when you start shopping.  Work your way to the back of the store or to a particular ...

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Do I Need A Store Credit Card?

If you have played a game of credit card poker with yourself it could surely be a sign that you have too many credit cards from too many places.    I am a big advocate of having fewer credit cards and establishing a longer credit history with those creditors by upping your credit lines over the years and showing your ability to pay them off regularly.   However, I often get asked about store credit cards from places like a Best Buy or a Target and whether it is a good idea to have one of these cards.  Do you need a store credit card? Most the store credit cards that get issued generally happen at the cash register.    The smiling face at the checkout counter tabs your bill up and then tells you that if you opened up a store card today that they will take 10%, 20%, or more off of your first purchase.     You quickly do the math in ...

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