Balance Transfer Day on December 11
Michael Germanovsky created a Facebook page for Balance Transfer Day, a day in which he urges consumers to transfer their credit card balances to low-interest cards. Germanovsky created this initiative to protest high credit card interest rates, which currently average from 17.99% to 22.99%.
Balance Transfer Day has received quite a bit of attention in the media. I could see critics attacking consumers about how they wouldn’t be in credit card debt if they educated themselves about APR, only submitting the minimum payment, and living within their means. Unfortunately, life is not that simple or black and white. Your life doesn’t turn out perfect if you’d only just follow a set of rules. Sometimes, things happen and people are not equipped to handle them. Some might have to put things on a credit card just to get through it.
I can’t understand people who defend these disgustingly greedy and unethical bankers that received billions of secret bailout money from the Fed, or more accurately, from American taxpayers, yet still were not satisfied. They planned to add more fees and it wasn’t until protests escalated that they relented.
I can understand why billionaires like Mayor Bloomberg attack the Occupy movements – it’s obviously in their favor to condemn any such protests as dysfunctional and without merit – but ordinary, taxpaying Americans? Why? It just goes to show how the media has brainwashed Americans and turned them into zombies that will believe politicians are benevolent, corporations are people, the 1% pay their fair share, and if you’re not rich, blame yourself.
But I digress.
ST and I think Balance Transfer Day sends a strong message and plan to participate. Even though canceling credit cards lowers your credit score, we are okay with that. We only have two credit cards that we use regularly but I do have cards for retail stores such as Target and the Gap. So our amount of credit won’t decrease significantly.
Will you participate in Balance Transfer Day?
Playing the Credit Card Game
…of credit cards, that is.
Last June, I started reading The Cheapskate’s Guide to Vacations by Stephen Tanenbaum. The word “cheapskate” immediately peaked my interest and the book didn’t disappoint. Chapter 2 is entitled “Better than Cheap: Free Travel.” In it, Tanenbaum describes how he figured out and conquered the credit card game in order to obtain free travel to many exotic locations.
Confessions of a Shopaholic
We survived Hurricane Irene! Our neighborhood doesn’t seem like it was affected. There were a bunch of leaves in the street this morning when we peeked outside but no branches and thankfully no trees down. Barney is okay!
We checked in on our friends and family and everyone was okay, despite the flooding on Staten Island.
It’s gloomy in the aftermath of the storm, but also beautiful. I woke up today refreshed from 10 hours of sleep (glorious!) and flipped open my laptop. I was ashamed to see three tabs open, each with loaded shopping carts. During the storm last night, I shopped around on my favorite sites and some new ones too. I am such a sucker for coupons. Every time I see a good coupon, I feel compelled to buy stuff just for the “savings.”
I’m a recovering shopaholic since April 2011.
Before ST and I got married, I had the most horrendous spending habits. Since laundry was my most loathsome chore (even the drop-off service), I only did it once per month. Rather than doing laundry more often, I’d just go out and buy more clothes. I have tons of dresses, tops, pants, and shoes that I’ve only worn once (who am I, Paris Hilton?).
This is what my side of our closet looks like:
