http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7216 Terry Thu, 22 Feb 2007 00:24:04 +0000 http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7216 Good thing I’m a baby boomer, because I earn minimum wage and still have student loan debt, so at least Social Security and Medicare will probably save me from utter destitution.

]]> http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7193 jake Wed, 21 Feb 2007 21:19:06 +0000 http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7193 To me its more of preference. I absolutely cannot stand debt or the thought of owing someone money, so i would do whatever i can to pay my debt down, asap.

]]> http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7173 Silver Lining Wed, 21 Feb 2007 17:19:50 +0000 http://www.thesimpledollar.com/2007/02/21/the-money-book-for-the-young-fabulous-and-broke-chapters-4-6/#comment-7173 Great review, thanks for the posts. I have a small quibble with Suze, and it’s something she probably realizes but her target audience may not be aware of. She says: “If your savings account returns 5% and you have a 4% credit card, then you should have your money in a savings account.” From a purely financial standpoint, the savings account probably has a lower effective interest rate than the credit card, because you pay taxes on the 5%. However, in this example, the difference is probably not significant enough to justify paying down the credit card rather than establishing an emergency fund.

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