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Commingle Personal and Business Finances? Never!
Dear Mary: I am reading your book, "Debt-Proof Living," and have begun tracking my expenses. I have a home-based business. Should I include business expenses or just personal expenses in the tracking? — Lucy, Vermont
Dear Lucy: You …Read more.
In Recessionary Times, Thrift Stores Are Booming
I love to read about the ingenious ways people are dealing with the effects of this unrelenting recession. Reminds me of a news story I read recently about the rise in popularity of thrift stores. They're becoming so popular, in fact, new ones are …Read more.
How to Stop Paying for Standby Power
Take a stroll through all the rooms in your home tonight when it's dark. Notice all the little green or red lights staring at you from TVs, cable boxes, phone chargers, computer peripherals, sound systems, the coffee maker and the microwave. I did …Read more.
Debt: The Good, Bad and Really Ugly
All debt falls into one of three categories: reasonable, toxic and neutral.
Reasonable, or good, debt is the result of borrowing money to buy something that has a high likelihood of increasing in value, and in so doing will increase your net worth.
…Read more.
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How To Disinfect Cold-Water LaundryDear Mary: How can I disinfect my colors when I launder them in cold water? I don't want the colors to run, but I want to make sure that the bacteria are killed. Because the colors are dark, I can't use bleach. — Mary H., Florida Dear Mary: Household ammonia, white vinegar and Pine-Sol are all disinfecting agents you can use in place of bleach to kill germs and bacteria in laundry. Hydrogen peroxide is another disinfectant, but it's also a natural bleaching agent, so I wouldn't use it on colors. And try adding one cup of white distilled vinegar to that last rinse as a softening agent. The acid in vinegar is too mild to harm fabrics but strong enough to dissolve the soaps and detergents so they rinse away more easily. Dear Mary: Should spouses have their own credit card accounts? My husband and I have one account for which I am the "authorized user." Are spouses who only have cards as authorized users jeopardizing their future credit scores and possibly setting themselves up for other problems if the primary account holder dies? — Dana, e-mail Dear Dana: The answer to both of your questions is yes.
If your husband is carrying a balance on his credit card account and he dies owing money, the entire balance will become due and payable. As an authorized user, you will have no rights on that account. You will not have the option to make payments on the outstanding balance, creating a problem at a time that is already stressful. If you have not done so recently, order your credit report from www.annualcreditreport.com so you can begin to monitor your credit history. Do you have a question for Mary? Send it to mary@everydaycheapskate.com. Mary Hunt is the founder of www.debtproofliving.com and author of 16 books, including "Debt-Proof Living." To find out more about Mary and to read her past columns, please visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2007 CREATORS SYNDICATE INC.
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