CMUThought Community Thought 100 day Challenge

We have all heard the saying a “Penny saved, is a penny earned” Many people will be in debt for years thanks in part to their mortgages and personal loans that take out to help them pay for items now that they will eventually own in the future. They interesting part to the whole equation is that creditors look favorably on debt as a sign of a good credit risk. I have noticed that every time we make a major purchase we seem to get more calls to open another credit card. Our current accounts with our banks is in good standing and we have always made our payments on time. My wife has been the biggest part of our success as she will look for ways to save instead of having to put items on the credit card. So whether you are purchasing a new DVD player or home insurance looking for ways to save for that purchase and not giving into the temptation to defer those payments will help you save money in the long run.