Debts Warning Signs

The following is a list of signs that may indicate that you have a Credit card problem:

* You do not know how much debt you owe and are afraid to add it up.

* You pay only the minimum -- or less -- on your credit cards each month.

* You are usually late paying some or all of your bills.

* You are receiving calls and overdue notices from creditors.

* You obtain cash advances from one credit card to make payments on others.

* You have reached the credit limits on all your charge cards.

* You have increased the number of credit cards you have in the past year.

* You have no savings plan or have stopped contributing to one altogether.

* You do not have an emergency fund of three to six months income set aside to cover unexpected expenses or situations such as automobile repairs, medical expenses, or job layoffs.

* You postdate your checks so they don't bounce or "float" checks until payday.

* You juggle bills each month.

* You can't envision a life without credit.

Warning Signs

10 Facts College Students Need To Know

The Danger of Credit Cards

10 Facts Students Need to Know

1. Debt problems can lead to depression, which affects study habits, academic performance and retention rates.

2.Unfortunately, in a few extreme cases, the stress associated with credit card debt has been a factor in student suicides.

3.People stressed about debt (particularly credit card debt) are more prone to heart attacks, insomnia and explosive emotions.

4.Some studies suggest that those students with credit card balances in excess of $1000 drink more, smoke more, use more prescriptions for depression and have lower grade point averages than those who don't carry credit card debt.

5.Debt can stick with students long after graduation. Debt ridden students interested in advanced degrees may not be able to secure graduate loans. Potential landlords, and some employers, routinely review credit histories.

6.Colleges and universities are the one group that makes money out of the credit card industry without bearing any responsibility for educating the students about the possible pitfalls and the devastating effect bad credit can have on their financial future. In return for lucrative fees, many colleges allow the banks and credit card companies to hawk their cards right on campus.

7.Many young adults have been forced by long-term financial problems to file for bankruptcy. In the years 1991-1999, there was a 50% increase in bankruptcy filings for people under 25.

8.Filing bankruptcy can severely damage your credit ratings for years. A bad credit rating may result in an inability to obtain a mortgage, a car loan or any other extension of credit.

9.Companies offer student "teaser" interest rates of 5 to 7 percent and quickly increase them sometimes as high as 20% or even more for those who miss payments or receive cash advances.

10.Missing payments, or making late payments, can result in increased interest rates, late fees of up to $29 each billing cycle and most importantly reporting to a credit agency who will in turn include it on your credit report, which will be seen by all future prospective lenders.

The Danger of Credit Cards

New Age Money

In the last 300 years the ways in which citizens of America hold money have changed dramatically. Traditionally, precious metals such as gold and silver held value and were used as universal currency throughout the world and the United States. Following this on March 10, 1862 the United States issued its first paper money with denominations of $5, $10, and $20. 7 days later an act passed made these peices of paper legal tender. This form of legal tender was the most popular form up until 1950, with the invention of the first credit card created by Diners' club founder Frank Mcnamara. This card was for resturant bills only, however its wasn't long before the first bank credit card made its apperance in 1958 by American Express. That same year BankAmericard(which is now, visa) also created a card which was the starting point of a New Age of Money in which the actually way were carry our cash is a plastic card with absolutly zero monetary value in and of itself. To date credit cards are the most popular ways of spending cash, displacing coins and paper legal tender.

Green Envy