What Financial Questions Do You Have?

Since I've joined DP, there's been so much to read & I have learned so much in this short time.

Looking for some ideas/topics to write about on WalletMentor, and I was wondering what are typical financial questions/problems do have?

This could be anything about making money, saving money, insurance, debt collectors, etc. - and could be either personal or within your business.

 

Here are some:

1. What do you call an average income?
2. Would it be better to rent or buy a house?
3. Is having a credit card a must? If it is, how manu credit cards should I have?
4. Whichj credit card debt you should be paying first?
5. What's the first thing to do to get out of debt?

 

Thanks for your input, John.
I'll give you a quick answer for 3.
Is having a credit card a must? NO If it is, how manu credit cards should I have? Credit cards are a trap, and it's a myth that cards are needed for building credit.

 

I got question for saving money.How can i save more money without affecting the lifestyle of travelling?

 

Good question, lifestyle... could you elaborate? Do you travel for work, pleasure, both? And by travel, is this local, national, global, etc?

 

lifestyle travel for pleasure, i always wanted to travel the world, to see different places, experienced the culture and taste the food. but yet doing this is very costly. its an issue to me to have this kind of lifestyle while saving a lot of money.

 

Well, since this for pleasure, realize you have all the time you want! So take your time, travel slow, and plan things out. Obviously, you're not going to be able to see everything & travel the world over a year. Start networking out, grab some pen pals and those can be your stopping points - free meals, carpooling, lodging & entertainment (I'll forgo the parental route & no need to mention the dangers in traveling frugally).

Another big one I'll suggest is to change your job & mindset on possessions. A good friend of mine traveled from Boston through Canada to Alaska for months saw absolutely everything you could imagine, in exchange for working odd jobs... from fisheries to libraries. Not everyone's preference to go this route, but work odd jobs you have some passion for and it'll at least not feel so much like work

It's really a matter of how committed you want to be. Travel requires a free spirit & minimal possessions.

It's not an easy task to travel around the world & save, but the opportunities are out there, you just need start building friendships with those globetrotters!

Start here: https://www.couchsurfing.org/

 

Just let's talk more about the credit cards. What are other ways to deal with online shopping without credit cards?

 

First alternative that comes to mind is PayPal, have it linked to your bank account. If you are in the U.S., it's a relatively simple process to obtain their business debit card. If you're not a fan of PayPal, you can use other mobile wallet services, but PayPal is my preferred choice... you'll hear horror stories, but I've never had a problem with my PayPal or its debit card.

 

My initial question has to do with college students and those with their first job out of college. What are money saving tips for them that would be motivating?

 

I do feel that credit cards can serve a purpose such as paying for something in advanced, when you know that you check will come in, and you can pay the balance of the credit card back. With that being said, the best formula against abusing credit cards is self-restraint. If this cannot be achieved, I must agree with WalletMentor and advice to stay clear from that trap of credit cards and the accompany interest, if not paid on time.