This week we talk about consumer confidence and I get to rail on the credit card companies.  I think they have a useful product if used responsibly.  I just want everyone to know how to use credit cards wisely. 

Caroline Waxler, the Managing Editor of www.MainStreet.com is our very special guest today.  Caroline has been on the show before and it is always fun to talk with.  She is a wealth of information about money, the internet and celebrity crowd.   Carolyn works on Wall Street in Manhattan so we also get the New York scoop which I really like.  I know you will enjoy this show.

 

 Standard Podcast: Play Now | Play in Popup | Download

In keeping with Gary’s new’s story today about getting squeezed by credit card companies and a former guest of the show Bob Sullivan author of the book, Gotcha Capitalism.  This week Turtle time with focus on your credit card statement.   

Here is what you must do every month when you get your credit card statement. 

#1 Open it.  Then go to the summary section and look at the following information: 

Current balance.  Look over the purchases for this billing period.  Are they accurate? 

Your Credit limit.  Are you over your limit or are you close?  Don’t go over it.  It is expensive.  Your credit score will suffer if you go over 30% of your limit and your score will be hit hard if you go over 50% of your limit.  In these times, survival may be more important than credit scores so make sure that you don’t go over your limit ever.   

Date your payment is due.  They change this so you need to look at it every time. 

The interest rate you are being charged.  You may have a couple of different rates.  One for purchases, one for cash advances or balance transfrers and maybe even one for a promotional event.   

Make sure you understand what you have.   

If you don’t understand it or if you don’t like something, call them.  The number is on the front of the statement.   

Ask to have your rate lowered.  Ask to have your billing date changed if your current due date doesn’t work with your pay dates.  

We talked earlier about credit limits.  Don’t be afraid to have your balance increased if you are gettting close to your limit.   

When you call here are a few tips for you. 

1. Be nice.  Even if you don’t like the answers, be nice try to get the person on your side.  If they like you, they will do whatever is within their power to do for you.
2. Don’t be in too much of a hurry.  We have talked before on the show about using one lunch hour per week or month to go over these issues.  It is time well spent.  Make sure you have some time to spend on this, it will not go quickly.

If you have more than one credit card, which I don’t recommend, take them one at a time and go over them.  It is an important part of understanding your money and it will pay huge dividends in your financial future.   

Remember, the goal is to eliminate all of your credit card debt because it is the worst debt out there. 

As a listener of the show you know that the turtle time segment is about taking a very strategic and deliberate approach with your money.  If you think wealthy people are made a million bucks at a time, you need to think again.  Our guest today, Yvonne Oswald is going to talk about the power in your words.  In honor of Yvonnes visit today, Turtle time will explore the difference between the words when and while. 

Have you ever said or thought, when I get this done, I will do that.  Or when this happens then I will be ready or prepared to think about or act on that other thing.  For example, When my ship comes in, I will put some money away for my later life.  When I win the lottery, I will do those things I have been dreaming of doing.  If you use the word, when, you put things on hold and out of your control.   

I want you to consider the difference, the power you gain, by using the word while in place of the word when.   

While I am waiting for my ship to come in I am going to put some money away for my later life.  While I am waiting to win the lottery, I will do those things I have been dreaming of doing.  Now you are setting your life up to move in the right direction all of the time.  Not after something else happens.   

The turtle approach to your money may not happen really fast, but by making this one change, you will see benefits and movement today instead of waiting for results. 

This week we talk about the proposed bail out of the home foreclosures that was just passed by the US Senate.  I don’t like it but there are pro’s and con’s. 

 Our guest this week is Yvonne Oswald, author of the book, Every Word Has Power, Switch on your language and turn on your life.  Yvonne is a great guest and her book is a must read.  I like her because her message is like mine, simple and easy to start using.  She talked about “switching” your words for a different outcome and she demonstrated her Magic of the Mind Technique which shows you how to obtain an incredible change in less than a minute.  You should listen to this show.  If you would like more information on Yvonne and her books and cd’s you can go to www.globalwelcome.com

 

 The Money Thing May 20, 2008: Play Now | Play in Popup | Download

As a listener of the show you know that the turtle time segment is about taking a very strategic and deliberate approach with your money. If you think wealthy people are made a million bucks at a time, you need to think again.
This week I want to explain why the turtle wins the race. She finished. (I explained earlier why I believe the turtle is a female) She held on to the vision of where she was going and she actually reached the finish line.
You do not get rewarded if you don’t finish. Ask yourself, do you have a history of finishing things or do you start them and then never get around to seeing them reach their completion.
Did you finish school, did you finish the last book you started? Did you finish the dishes? Did you finish the laundry? If I hire you do to something a job, does your history show that you will finish it? Or will you do just enough to move on to something else.
On the other hand, would you spend your money to hire someone who doesn’t finish what they started. How about an unfinished haircut? How about an undercooked hamburger? Can you say e coli? How about a surgery where the surgeon just didn’t feel like sewing you up or double checking to make sure that everything was finished correctly. These are not acceptable to us.
Here is an exercise I do every year or so. I write down a list of tolerations. Things I have been putting up with and most of the time they are things I have not finished. I am a finisher by nature and I have been doing this exercise for years and I still have things on my list.
Make a list of a few things that you want to complete. Maybe cleaning out a closet, waxing your car or calling an old friend. Just the activity of getting rid of something you have been putting up with. Something that is not finished will help you feel better and give you a boost in your energy.
If this exercise leads you to wanting to write down how much money you spend each month or creating a five year vision for yourself. Go to our website www.Themoneything.com and click on the resources section. The forms are there for you and all you have to do is to fill them out.

With the prospect of gas going to $5.00 a gallon and housing prices in the area softening we are all experiencing situations that can cause us more stress.  Our guest this week is Murray Oxman.  Murray is the best selling author of many books but today he is talking with us about How to Beat the Stress & Get More Out of Life.  He shares with us some super simple ways to eliminate stress from your life.  Murrays books are available at Borders books and Amazon.com.

 

 Standard Podcast: Play Now | Play in Popup | Download