Many of us post-divorce are confused when it comes to credit card use. The bigger question is usually, “When it is okay to use a credit card and when should I pay with cash or my debit card?” To help you better understand when to whip out the plastic and when to leave it in your wallet, lets take a look at the pros and cons to using credit cards. Factors to … [Read more...]
How Many Credit Cards Do I Need?
I am asked this question quite frequently and unfortunately I don’t have a universal black and white answer. If you are sifting through your wallet and shuffling a deck of cards this may be a sign you have too many. If you are thinking about opening additional accounts, think again; you may be putting your credit rating and your financial health at risk. The magic … [Read more...]
Learning To Manage Your Money
In the previous post in Carolyn's story, Carolyn shared how she was funding her college education. I knew from our first interview that when she left her marriage Carolyn had never had her own bank account or credit card, nor had she ever paid a bill. So how was managing money now? Here's Carolyn: It’s going okay. I still tend to avoid dealing with it as much as possible. … [Read more...]
Not All Debt Is Bad Debt After Divorce
Picking up Carolyn's story, you'll recall that she's in her second year of an associate's degree nursing program. Going to school full-time, being active in student government, volunteering in the community and raising two children leaves no time for employment. I guessed from our previous interview she probably wasn't getting any maintenance from her ex and that her parents … [Read more...]
Choosing A Credit Card Post-Divorce
As a Certified Credit Counselor I can’t in good faith recommend that you go out and sign up for a bunch of credit cards after your divorce. My job is to help you become debt free and stay that way. However, having some credit will be a necessary evil of rebuilding your life post-divorce and establishing a healthy credit profile will make things much easier for you. Even with … [Read more...]