This week: How much debt is too much, how to teach your kids about money, how to make money finding lost gold, why your credit score sucks and the best reasons to quit your job.
[Credit.com] “Less debt always sounds like a good idea, but this can be a bigger challenge than we realize. And avoiding debt completely may not even be as important as we think.“
Debt is something I’ve written about a lot. This post describes how to come up with your debt-to-income ratio and why it matters. The point it makes is a good one: The amount of debt you have, while certainly important, takes a back seat to what’s truly critical: your ability to pay it back.
I don’t know if they’re exactly secrets, but this post has some decent suggestions. They include seizing teachable moments, talking about your income and expenses, sharing information when it’s age-appropriate, and addressing your personal, inner-most thoughts about money. Got some kids to educate? Here’s a good place to start. Check it out, then continue your education here with stories like “Using Everyday Opportunities to Teach Your Kids Money Smarts.”
[The Penny Hoarder] “I know it sounds fake, but you actually can find real gold mixed in with costume jewelry at flea markets — I made $9,000 in profit last summer, buying gold and reselling it to a jeweler for its melt weight. Here’s how to do it, and what to watch out for. ”
Some of the advice offered: Find the biggest flea markets, look for 10k and 14k markings, buy bulk bags of jewelry, deal with jewelers rather than gold buyers, focus on rings and earrings and take your time. See the post for more tips.
[Debt.com] “A few questions for you: First, have you checked your credit score lately? If not, you might want to do that. It’s one of those habits that everyone knows they should do but often forgets to do until something bad happens — like how you only remember to floss after you already have a cavity.”
I really don’t think checking your credit score is as important as flossing, but this article does offer some reasons why yours may be suffering. They include not talking with your spouse about money, not caring enough, not being organized, someone else dragging you down and being underpaid. If you don’t see how these factors can affect your credit, you will after reading this one.
[Wise Bread] “Studies show that nearly three-quarters of corporate employees would realistically consider finding a new job today. About a third are already looking.”
Why are so many of us longing for something new? According to this article, contributing factors include long commutes, being underutilized, your company being in trouble, a toxic office atmosphere, not believing in what you’re doing and not having enough time for yourself. What’s your reason?