MoneyWise


Credit Card Mistakes

October 27, 2018

A double-edged sword cuts both ways as they say.  If you look up the definition of that ominous-sounding weapon, it may show a picture of something that you carry in your wallet every day: a credit card!   Rob West and Steve Moore discuss the negative impact carrying a credit card balance or making late payments. 

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following: 

  • If you've recently become aware of a house available for $20,000, have $1,000 in savings and good credit, should you considering buying the house? 
  • Would it be a good idea to pay off your aunt's 11 year mortgage and then let her pay you back at a reduced interest rate?  
  • Is this Stockpile worth looking into?
  • If your father passed away last year and you're living with your mother to help her financially, should you rent your vacant home? 

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