3 Diamonds and a Dog #3
In each post of the Money Counselor “Diamonds & Dogs” series, I pick three items—could be an article, a website, a video, an image—that in my humble opinion would be especially valuable—the Diamonds—in helping Money Counselor readers make better money choices. And to balance the three Diamonds, I pick just one lame item—the Dog.
3 Diamonds
- Inspirational musings on actual wealth, symbols of wealth, and debt: “Here’s What It All Boils Down To (On Debt and Dreaming)“
- Good ideas on the keys to financial prosperity. It’s not all, or even mostly, about frugality: “No One Ever Gets Rich by Being Frugal“
- Tips here for choosing a counselor to work with on my favorite debt payoff tool, a Debt Management Plan: “6 Tips for Finding the Right Debt Management Plan for You“
A Dog
- American Credit Repair As I’ve written about before, “credit repair” is a rip-off. Everything this company (and thousands like it) offers for hefty fees with respect to disputing credit report entries, consumers can easily do themselves for free. (See the FTC’s “Credit Repair: How to Help Yourself“.) This particular company charges $2,495, apparently to help its customers obtain a mortgage loan, though it’s not easy (unsurprisingly) to divine from the company’s website the exact services and results for which this huge fee pays. Before you spend scarce resources on a grossly overpriced service like this, spend a few hours cruising the many excellent—and free—personal finance blogs on the Web, including this one. And if you’re looking for a mortgage loan, talk to a mortgage lender or broker—for free!—about what you need to do to qualify. And yes, definitely make sure your credit report is accurate. It’s really easy to do!
Nominations Please
Do you have a nomination for a Diamond or Dog? Send it to me please using the Write Money Counselor link at the top of the page. I’ll give you credit if I use it in a “3 Diamonds and a Dog” post.
Through formal and self-education, experience, and work in corporate finance and as a certified credit counselor, I’ve learned about making good money decisions. I still have a lot to learn, but my wife and I have achieved modest financial freedom: We’re debt-free and have managed to sock away a decent nest egg. We don’t have and have never had a lavish lifestyle (the main reason for our progress), but we’re reaching our goals and like our lives. We’ve learned that simple living saves money and, more importantly, improves life's quality and richness. We didn’t get to this place by accident; we arrived through thousands of choices large and small to save or simplify instead of spend or splurge. I believe you can do the same. Thanks for visiting and sharing. - Kurt
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