Networking, Suze Orman, Admitting You Have Debt and Credit Unions

>> Friday, October 1, 2010

I began this financial blog to help professional nannies develop budgets, find ways to get to nanny conferences and find awesome deals while shopping and travel.  I knew along the way I would be sharing my own personal experiences about my debt and how I am getting out of it. Through this blog I have discovered an incredible world out there in the inter-webs!  I didn't realize how I would be involved with those in the blogging world as financial bloggers, mommy bloggers, those who are brand ambassadors and the many others I have met via Facebook, Twitter, BloggyBootCamp or their blogs.

The one basic thing I have come to learn is that we all learn something from each other through networking. Networking is such a "wealthy" asset to all of us no matter what career we are involved with. Networking often doesn't require tangible money to be exchanged between parties. This is what led me to today's post how my networking over the past year has lead me to financial decisions and getting out of debt.

Today I was listening to The View and my favorite person, Suze Orman was on there. Suze was talking about buying gold as a great thing to invest in right now because it is cheap.  The next question was regarding if you are in debt right now. Her response was what has stuck with me throughout the day.  "Admit you have debt. Yell it, tell your friends, admit you are a financial liar etc"    This brought up to me how many of us are financial liars?  I must confess listening to Suze today, I am a "Financial Liar". I go on trips, buy clothes, gifts and do fun things all while appearing to have no financial debt. This doesn't make me a bad person nor you. It just means that the definition of debt has not been clarified for us and our networks.  I pay my debt down, I am what my banker called me years ago the person credit card companies hate. I pay my bills on time and don't go over the limit etc. Sure I have credit card debt. I have admitted that.  What I need to do is step up and be more active in my War Against Debt!

Now where do I start or even you start in admitting to the debt we owe?  Start with examining your budget and reviewing things.  Way back I started a series on developing a budget.  Today is October 1,2010 three months to the end of 2011.  I want to be financially more healthy by the close of this year then I started. 2010 with so I am revisiting these posts:

Now if you have credit cards, stop using them and start paying them off.  Suze mentions that the best place to have a credit card these days is a Credit Union.  Why because they can't charge you more than 19% interest.  So when you are paying your monthly amount it goes towards your balance and not to some crazy high interest rate of 26% or higher.  She suggests looking at the site Credit Card Connection to find a credit union in your area. 

Make sure to check out Suze's appearance on The View for a quick 3 and half minute segment. 

So will you join me on this 3 month journey to end 2010 in a financially better position then what we started off on January 1, 2010?  



Blog Widget by LinkWithin

Disclaimer & Privacy Policy

I am not a certified financial planner. Any posts or pages written within this blog is the opinion of myself and not to be taken as financial advice. Any actions by an individual driven by information within this property do so at their own risk. Always consult a professional before making financial decisions.

Your information will not be sold to any third parties.

Contact Me

The Financial Nanny

  © Blogger templates Inspiration by 2008

Back to TOP