Hello DINKS and Happy Friday to you all.  Last weekend was the Formula 1 car race in Montreal.  The F1 weekend is a super busy 4 days (it starts on Thursday and ends with the final race on Sunday) which are packed with concerts, parties, food, and of course some fast cars. During F1 weekend the city becomes packed with rowdy tourists who are happy the legal drinking age in Quebec is 18.  Everyone drives a little bit faster around the city, so I am extra careful when I cross the street during F1 weekend.  This weekend I am looking forward to some relaxing down time.

Today we are going to discuss the benefits and of our best Frenemy …our credit cards.  A frenemy is someone, or something, that we love to hate.  We love to use our credit cards when we need them, but we may hate having to pay them off when we receive the monthly bill.  I personally hate paying 19.99% interest on my VISA card and therefore I try to pay it off in full by the due date every month.

Here are some great posts from around the web about everything related to the love/hate relationship that we have with our credit card:

Yes I Am Cheap discusses debt settlement in the post Do-It-Yourself Negotiation of Credit Card Debt?

Money Crush talks about how we use our credit card in the post What’s Your Credit Card history?

Financial Samurai warns us about the ability of credit card companies to change our contract at any time (whether we agree or not) in the post Where Are My Credit Card Rights Citibank?

Enemy of Debt shows us how to pay off our debt with a plan in the post Your Debt Free Checklist

Here are three of my favorite posts from DINKS about credit cards:

Prepaid? Cash? or Credit?

What happens in Vegas…comes home on our joint credit card bill

The Perfect Credit Card

Photo by Hakan

This entry was posted in Credit Cards, Weekly Recap by Kristina Tahnyak. Bookmark the permalink.

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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