10 Commandments of Personal Finance

For some people, getting personal finances in order is more grueling than wandering the desert for 40 years. But it doesn’t take a miracle. If you are looking for some basic guidelines, just follow these 10 commandments:

1. Thou Shalt Take Action
Reading about how to improve your personal finances is a start, but it has absolutely no meaning if you don’t take the action of putting what you learn into motion. Before you can get anywhere with your personal finances, you need to begin — right now. If you are reading this article, you know that you should be taking steps to get your personal finances in order.

Print out this list and place it where you will see it every day, so that you are reminded that personal finance is a priority in your life and that you will take some action each and every day to try to improve your lot. If you aren’t sure where to begin, start with getting your banking accounts in order.

2. Thou Shalt Pay Off All Credit Card Debt
Credit card debt is, in most cases, continue reading »

The Bad Credit Hotel – An Interactive Game

The Department of Treasury and the Ad Council has recently created a campaign targeted to 18-24 year olds, to introduce them to "debt management and credit ". They’ve developed an interactive game by the name of "The Bad Credit Hotel ". I played it last night and there is some good information provided. The fact that it is interactive makes it more interesting; particularly for the age group they’re trying to reach.

A statement they sent to me said, "According to a study conducted by Sallie Mae, more than 50 percent of college students accumulate more than $5,000 in credit card debt while in school. Additionally, Capital One reported that only 10 percent of high schools in America teach financial management and continue reading »