Young and trying to learn about money

[greenjp]

Come on dude if you're going to respond to statements someone makes, at least respond to their actual statement

I said, quote: "Having a credit card that you regularly use and pay off will do nothing but good for you." I defy anyone to explain why this is not true. I don't say "Racking up bills and carrying a large balance", nor do I say "Buying things you can't actually afford with a credit card".

Not sure if the "broke people" crack was about me or not. I can assure you I'm hardly broke.

jeff

 

[Razl]

Yeah, you're misunderstanding me too

I did not suggest cash advances with a credit card. I was refering to general banking (checking/savings account) and withdrawing money from an ATM and avoiding fees. Geez.

 

[msparks]

http://www.daveramsey.com/

http://www.mdmproofing.com/iym/babysteps.shtml

1. Make minimum payments on all your bills. Squeeze your budget until you've accumulated $1,000 cash. This is your beginner emergency fund.

2. Pay off your debts, smallest to largest. "Snowball" the payments.

3. Create a full-fledged emergency fund containing 3 to 6 months' worth of expenses.

4. Fully fund 15% into pre-tax retirement plans and Roth IRA, if eligible.

5. College funding.

6. Pay off your home early.

7. Build wealth (mutual funds / real estate) and give!