Paradoxes are fancy literary devices that can teach us lessons through the use of logical contradictions. Examining them allows us to practice our ability to hold opposing ideas in our minds at the same time.
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Understanding Credit Card Balance Transfers /
A balance transfer is when you pay off a higher interest credit card with a lower interest credit card. You're transferring the balance from one credit card to another. A lot people use this strategy with their personal finances to get out of credit card debt. Credit card companies will often advertise balance transfer deals where no interest will be charged for a certain period of time. For example 0% interest (APR) on balance transfers for 12 months. Sounds like a pretty good deal, right? It can be, but there are some things you should know before making the transfer.
Read MoreHow to Get Out (and Stay Out) of Tax Debt /
If you owe taxes to the IRS, but you donโt have the money to pay them, it can be an overwhelming feeling. That sucks. But the good news is, you can totally come up with a plan to pay it off. The IRS is good like that. As scary as their certified mail notices can be, they definitely want you to be able to settle up with them.
Read MoreCheck Yourself Before You Wreck Yourself: Understanding Your Credit Score /
Knowing your credit score is straight forward. You can sign up for an app like Credit Karma and they'll give you credit score. If you apply for a mortgage, the broker will run your credit and they'll tell you your credit score.
Getting your score isn't the problem, the allusiveness lies in understanding how your credit score is actually calculated. The exact formula used to calculate your credit score is like Coca Cola's secret recipe; it's not public information. We do know that calculation consists of five different elements and the weight or level of impact each elements has.
Read MoreLet's Talk About Your Credit Card Debt /
Before I dive into credit card debt, let's talk about luck, personal responsibility and the role they both play in having your finances in order. I only bring this us up so we can go into this conversation with proper perspective.
It's important to understand that having your finances in order is first a matter of luck and then a matter of personal responsibility.
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