Comments on: Top 4 Things Everyone Should Know About Their Finances http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/ Plant Knowledge. Reap Financial Gain. Fri, 26 Feb 2010 18:51:54 +0000 http://wordpress.org/?v=2.9 hourly 1 By: The Realist http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/comment-page-1/#comment-9112 The Realist Mon, 01 Feb 2010 03:44:47 +0000 http://harvestingdollars.com/?p=8#comment-9112 To be more specific, this amount should be documented in the budget. To know it by heart is overkill. The only numbers you should know by heart, is how much are you saving and how much you owe. If you owe more than in your savings you need to do something. Outside of that, as long as you don't purchase things impulsively, you should be OK as long as you have a budget. If you purchase things impulsively or on credit, I would have to agree, you need to know these four numbers! Why do I need to know this information? Because I want to charge something or take out a loan. STOP BORROWING MONEY! I have one loan, my mortgage. I also charge money from time to time. Recently I charged a new garage door ($2000) to my credit card. But guess what? The credit card is charging me 0% interest on new charges and I also have $4,000 in the bank. I am earning interest on my money, not much but something, and I am paying for the door with money I have in the bank. I lose my job - I can pay it off at 0% interest - free money. Otherwise - don't borrow a dime! It is not worth it! If you don't borrow, you don't need to know all these numbers, you just need to be able to figure them out before you buy anything that requires a loan. To be more specific, this amount should be documented in the budget. To know it by heart is overkill. The only numbers you should know by heart, is how much are you saving and how much you owe. If you owe more than in your savings you need to do something. Outside of that, as long as you don’t purchase things impulsively, you should be OK as long as you have a budget. If you purchase things impulsively or on credit, I would have to agree, you need to know these four numbers!

Why do I need to know this information? Because I want to charge something or take out a loan. STOP BORROWING MONEY! I have one loan, my mortgage. I also charge money from time to time. Recently I charged a new garage door ($2000) to my credit card. But guess what? The credit card is charging me 0% interest on new charges and I also have $4,000 in the bank. I am earning interest on my money, not much but something, and I am paying for the door with money I have in the bank. I lose my job – I can pay it off at 0% interest – free money. Otherwise – don’t borrow a dime! It is not worth it! If you don’t borrow, you don’t need to know all these numbers, you just need to be able to figure them out before you buy anything that requires a loan.

]]> By: New Zealand http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/comment-page-1/#comment-8966 New Zealand Tue, 19 Jan 2010 05:51:42 +0000 http://harvestingdollars.com/?p=8#comment-8966 Interesting post! Lot's of people do need help budgeting better! Interesting post! Lot’s of people do need help budgeting better!

]]> By: Stocks on Wall Street http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/comment-page-1/#comment-8795 Stocks on Wall Street Wed, 13 Jan 2010 10:03:33 +0000 http://harvestingdollars.com/?p=8#comment-8795 Most people do not know how to handle their finances, thats the problem. Most people do not know how to handle their finances, thats the problem.

]]> By: Sabra Duffiney http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/comment-page-1/#comment-8792 Sabra Duffiney Wed, 13 Jan 2010 04:04:20 +0000 http://harvestingdollars.com/?p=8#comment-8792 Thank you for this. Nice little reminder to keep finances on track. Thank you for this. Nice little reminder to keep finances on track.

]]> By: IM http://harvestingdollars.com/2009/11/22/top-4-things-everyone-should-know-about-their-finances/comment-page-1/#comment-8783 IM Mon, 11 Jan 2010 08:36:18 +0000 http://harvestingdollars.com/?p=8#comment-8783 Nice tips. I will follow these. Nice tips. I will follow these.

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