Don't Get Punk'd

My mother is a great money manager. Small investment accounts opened 50 years ago are today worth thousands. She takes care of her money and her money takes care of her. I plan to be like her when I grow up.

            

But they want to ruin it for me. They being the companies whose logos are featured on this poster in the drive through lane at a fast food restaurant. It was so big, it was ugly. See? Isn't it big and ugly? It dwarfed the menu board. After all, who cares what you eat as long as you pay for it with a credit card.

"Order, swipe, enjoy!" Yeah, right. Enjoy your trip to bankruptcy court. They know that 95% of us will get punk'd by the thought that it's easy to swipe and enjoy, so don't worry that you might be paying $13 or more for $10 worth of fast food.

But you don't have to get punk'd!

Instead, you can be like my mother, who says:

• Good credit is credit you want so you can add to your bottom line. Bad credit is credit they want to give you so you can get punk'd.
• Get as much credit as you can. The more you have at your disposal, the better your credit rating.
• Don't use all the credit you get. Available credit is an asset. Keep as much of it for as long as you can.
• Don't be a consumer, be a business associate. Let creditors know that you know you are an equal contributor to a business relationship.

I thought the interest rate was too high at a department store where I have a line of credit. So last week, I called and asked them to lower it. Five minutes later, they did. By 38%. In early 2008, I'll call back and ask them to lower it again. Will let you know how it goes.

Here are some links for good tips on money and credit management:

Suze Orman
Rich Dad, Poor Dad
The Money Coach
Maxed Out Movie

If you know of some other good resources, or if you are one, please share. I need all the help I can get!