If you don’t know why you are hear, please read about the 21 Day Happiness Training Challenge.
Why I chose a prepaid credit card
This is a guest post.
You can’t get credit without a credit card, and you can’t get a credit card without good credit. This is a dilemma that many people find themselves facing, whether they are trying to re-establish their credit or build credit for the first time. In fact, this is the dilemma that I found myself in. My solution was to get a prepaid card, and here’s why.
The Real Deal with Prepaid
Prepaid credit cards have earned a mixed reputation over the years. While it’s true that they usually have more fees than a regular credit card, they also offer a financial solution for people who don’t have good credit. And you should also keep in mind that they don’t charge interest because the cash that you are using is yours to begin with. The important thing to remember about prepaid cards is that they are a means to an end; once you rebuild your credit, you’ll find it much easier to apply for a card with better rates and fewer fees.
In addition, prepaid cards offer several advantages. The most important one for me was the convenience of having a card that I could use to make purchases. Prepaid cards look and work exactly like regular credit cards (you don’t have to enter a personal identification number to use them), so the only one who knows it is prepaid is me. And while I use cash for everyday purchases, there’s no avoiding the need for a card when you have to shop online or pay for gasoline at the pump, for example. Most digital merchants only accept payments from cards linked to large financial brands like Mastercard and Visa, and my card gives me a way to buy what I need from whoever has it in stock. In addition, my prepaid card offers me a way to keep track of all of my purchases electronically, which is helpful since I am trying to keep a closer eye on my budget.
Prepaid cards also offer security. Cash can easily be lost or stolen, but if you lose a prepaid card, you can easily get a replacement. More importantly, your balance is protected by a replacement guarantee from your bank, which comes in handy if you ever have to dispute fraudulent charges.
Perhaps the most convenient factor of a prepaid card, though, is how easy it is to get one. You don’t have to have a bank account in your name to receive a prepaid card. However, if you do have an account, you can easily link it to your prepaid card.
Changing my spending habits and getting out of debt hasn’t been easy for me, but one way for me to show creditors that I am getting better at managing finances is to build my credit with my prepaid card. It’s also a way for me to eventually be able to make big purchases that are necessary, such as a car, and hopefully one day, a home. Prepaid isn’t for everyone, but if you find yourself considering this option, it’s worth a second look.
Garage & Yard Sale Manual
After months of research and planning I recently had a successful garage. Here’s my how-to yard sale manual.
Step 1: Preparation. You can never be too prepared. I detail advertising, setup, planning and more.
Step 1.5: Marketing. Here is the text of the ads I placed.
Step 2: Management. Pricing, haggling, staffing, and other “Day Of” issues.
Step 3: Wrap-up. It’s done. What now?
Finally, we’ve got a Page of Tips. This is sure to grow over time.
What is a Mechanic’s Lien?
- Image via Wikipedia
When you hire someone to work on your property or provide material to build or improve it, they are entitled to get paid. A mechanic’s lien is the method of enforcing that payment.
Here is what you need to know about mechanic’s liens.
A contractor must usually give you written notice of intent to file a lien if the contract isn’t paid. He needs to do this within a short time of beginning the work. The notice will include text to the effect that subcontractors also have the right to file a lien if they are not paid. This notice gives you two methods of defense: You can pay the subcontractors directly and withhold that amount from the payment to the contractor, or you can withhold the final payment until you have received a lien waiver from each of the subcontractors.
If the notice isn’t given correctly, the contractor forfeits his right to file a lien. Also, in most places, if a contractor is supposed to be licensed to do the work, but isn’t, he’s not able to file a lien.
Subcontractors must also provide notice on intent within about 45 days–depending on the state–of the time they first provide services or material, or the lien is not enforceable.
Protecting Yourself
First, you only have to pay once. If you pay the contractor in full before getting the notice of intent from the subcontractors, you can’t be forced to pay again.
Next, make the contractor provide a list of all subcontractors and keep track of any notices of intent you get. Get lien waivers from everyone involved before you make the final payment to the contractor.
Finally, you have the rights defined in the notice of intent to file a lien. You can either pay the subcontractors directly, or you can withhold the final payment until you receive lien waivers from each subcontractor.
Resolution
The lien holder has 120 days to file the lien and 1 year to enforce it. Enforcing simply means that it a suit has been filed. Once that happens, you can either pay the contractor, attempt to settle with the contractor, or you can take the contractor to court to determine the “adverse claims” on your property. There aren’t too many choices at this point.
Do yourself a favor and get lien waivers before you make the final payment on any work done on your property.
Crying is for Winners
Have you ever seen a kid come off a wrestling mat, crying his eyes out because he lost?
Often, that kid will get told to be tough and stop crying.
That’s wrong.
I’m not opposed to teaching kids not to cry under most circumstances, but just after an intense competition, I love it. It’s the best possible sign that the kids was pouring his soul into winning. It means he was trying with everything he had.
It means he is–or will be–a winner.
When a kid, particularly a boy in a tough sport, is crying, you know he’s going to try harder and do better next time.
For all of the “tough guy” ability it takes to succeed as a wrestler, I’ve never seen another wrestler teasing the crier. They’ve all been there. Wrestling is a team sport, but you win or lose a match on your own. When you step out in front of hundreds of people and spend 3 to 6 minutes giving every ounce of everything you have to give, only to find it’s not good enough, you’ll often find you don’t have the final reserve necessary to control your emotions.
This is different than a kid crying because he lost a game, just because he lost. Some kids feel entitled to win anything they do, regardless of the effort they put it. That’s also wrong.
Crying at a loss is okay after putting in maximum effort and full energy, not because the dice went the wrong way.
Twitter Weekly Updates for 2010-04-10
- "The best way to spend your money is to spend it on time, not on stuff." http://su.pr/2tr5iP #
- First bonus by stock options today. Not sure I'm impressed. #
- RT @chrisguillebeau: US border control just walked the train asking "Are you a US citizen?" Native American guy says: "One of the originals" #
- @FARNOOSH My credit score is A measure of my integrity not THE measure. in reply to FARNOOSH #
- I'm listening to a grunge/metal cover of "You are my sunshine" #
- There's something funny about a guy on reality TV whining about how private he is. #LAInk #
