I did it again, arrgh!

I did it again--I wasn't paying attention and got some nonsufficient funds fees. I couldn't believe it--if I had just thought to check my pending transactions, I would have seen that I only needed to deposit about $10 to keep that from happening. But I didn't, and I wound up with over $100 of NSF fees. Ouch. Double ouch. Triple ouch.

One of these days I won't do this again. Repeat, repeat, repeat.

On another subject, I did think to look up a drug I am taking on the Internet. The prescription is expensive, and I was delighted to find a $10 rebate coupon. And yes, I had kept the paperwork I need to send in.

A small step in the right direction.......

Happy Money New Year!

Today is Jan. 2, 2008 and it is a good time to try to start off on a new foot money wise. I am always interested in reading articles on money tips, saving money, and paying off credit.

One of the best tips I read today was to start a money calendar. Put down on a calendar all the due dates of your bills. This sounds like a no-brainer and it is. Like many things, it is just something I haven't done yet. I keep all of the dates in my head, and I have to say I manage that info in my head pretty well. But I have the occasional slip up, and that is an occasional slip up I can't afford to have. So I will be writing down all of my due dates on a calendar that I will look at regularly in another step toward better money management.

American Attitudes About Credit Card Debt--Not a Big Thing?

The Associated Press ran an article the other day about how the subprime mortgage industry mess is now causing some people to default on their credit cards. I guess this is logical. When people run into money trouble, they start charging more or taking cash advances off their credit cards. The article said that serious delinquencies--those 90 days delinquent--were up about 50 percent or more in the value of accounts at least 90 days late compared to the same period last year.

The article also predicted that defaults will be even worse after the holiday season, and mentioned that economists say Americans have a long standing attitude that credit card debt is not a big thing.

I am lucky that I do not have a mortgage, so I don't have to worry about this aspect. I have had credit card debt for too long, and I want to get rid of it. Speaking for myself, I think credit card debt is a big deal. I think what happens to many, including myself, is that you accumulate debt on credit cards quicker than you realize and then you are in a pickle.

The best thing is to not use credit cards. I feel badly though for those caught in the mortage mess who are just trying to survive now, and haven't gotten their heads cleared about it yet or figured out a game plan.

Pay By Phone: The Good vs. the Bad

Pay by Phone, or whatever you call it, is another one of those decisions you have to make. When you are paying a credit card by automatic payment, many times there is a fee--sometimes as much as $14.99 or higher. That is bad, as that is money that gets slapped to your balance. And for those of us with high balances, that only makes it worse. Out of sight, out of mind, maybe, but that is just a little more each month that is tacked onto an already high balance.

The good side of these pay by phone options is that you know exactly what day the check will hit your bank, so you can plan for it. If I schedule my Discover card payment, for instance, for the 12th of the month, I know I will need that much money in my account to cover that amount, and if I don't have it, I can transfer some money into it for that day.

With a paper check, you don't have the luxury of knowing exactly what day it will hit.

I know--this is a silly problem, but I have been so used to paying my credit card bills by pay by phone for several years. I did it this way as a money managing tool. It made me feel good to know when the checks would hit, and then I wouldn't chance an overdraft. The bad side is it has helped to grow my balance.

Over the next few months, I am going to try to wean myself from this habit, maybe even starting this month. If I can, I'll be around $180.00 less in debt per year for every credit card I have.

Minimum Payment Confusion

I again talked with CitiCards today about my balance. I get worried because each time I call, I get a different story. I need to improve my FICO and credit score, and I need to do it by April if possible. So getting the right info is important. Today I called the 800 number to see how much I need to bring my account current. I could swear that last month when I talked with them, they said I was about 60 days late. I need to avoid going 90 days late at all costs.

I made a payment then, and I called back today to ask the same question. They said I was current but over the credit limit (I knew I was over the credit limit.). I know I am not good at math, but this is ridiculous. If I was about 60 days late last month and made a payment to hold it stable, I would think I would still be in the same position this month, but I am suddenly current??? I kept asking and asking about it and even asked to speak to a supervisor about it. And they all said I was current but over the credit limit.

I am going to accept their answer, but hope this is not an example of if it sounds too good to be true, it probably is.

I just don't understand why you get different answers all of the time.

Living on $12,000 a Year

I just read an article on msnbc.com about a woman in her 40s who has gone back to school and is living on $12,000 a year. She does this by living on alimony and a school grant. She never mentioned what degree she is seeking. She says she is not only living but thriving on this amount of money.

If she says she is, who am I to argue with her? I know that she wants to study hard and do well, and that she doesn't want a job eating into her study time, but I can't help but think that having to think that hard about every dollar you spend is time wasted too. More power to her, but in her shoes, I think I would rather just find a way to make more money.

Here is the link:

http://articles.moneycentral.msn.com/SavingandDebt/LearnToBudget/SurvivingAndThrivingOn12000AYear.aspx

Wal*Mart Screws Up Again

What in the world is wrong with Wal*Mart? It seems they have stuck their proverbial foot in their mouth again. The retail giant that has had so much bad press over the years takes a few baby steps in the right direction, only to kick itself in the behind again.

Is there no one awake at the public relations wheel at Wal*Mart?

Apparently not. Unbelievable.

The latest is the news that came out today that they are suing one of their former employees who was brain injured in a collision with a truck to recoup the insurance money they paid out on her.

You can read the sad details with the link at the bottom of this post.

I know that accident victims aren't supposed to double dip--in other words get money for the same injuries twice, i.e, from the Wal*Mart insurance company and also from the trucking company. But she was not made whole, and she will need expensive care all of her life.

I have two thoughts on this. One is that she really should have gotten a higher settlement. Maybe it is her lawyers' fault and they should be sued for malpractice. Get some of their money back from them. (This is a good suggestion.)

And, even if Wal*Mart is entitled to that money, again I say what is their problem? Don't they know this is going to be another PR nightmare for them?

If they want to subrogate and get money back, they should not have tried it with this victim. Makes them look greedy, greedy, greedy, and they should have known better. Shame on them.

http://articles.moneycentral.msn.com/Insurance/KnowYourRights/EmployersGrabAccidentVictimsCash.aspx