You Know You're In Money Trouble When this Happens

Ken Dolan: Hi, everybody. You probably don’t need us to tell you when you know you’re in a money trouble. But we’re going to do it anyway because you know why and a lot of people even during difficult times because I know everything. I’m alright, it’s okay. Well, we hope that’s true or maybe not. Daria Dolan: And this is not going to be as much fun as Jeff Fox worthy as you know when you are in a red-neck when. Ken Dolan: When? Daria Dolan: This is you know when you’re in a money trouble when— Ken Dolan: I don’t know. Daria Dolan: And this is a serious stuff and we know a lot of people are hurting in this economic scenario. Ken Dolan: Now let’s be honest. Let’s go through four or five things and all I’m trying to do is to alert you. We will be talking a lot about the creditor in 2009. Number one is I think that you see that most often area, when you are switching your balance from one credit card to another, maybe for a lower interest rate, maybe for some sort of promotion but if you’re constantly doing that, that will show up on your credit report. Daria Dolan: If you can’t estimate almost not to the penny but certainly to the 10th dollar. How much debt you’re in? You’ve got credit problems because it is just a fact of life, when we know we’ve got too much to handle we try and forget about how much that debt is. Ken Dolan: You don’t check your credit cards statements? I know we owe a lot. I heard yesterday and I’m not kidding. The average balance carried by a family now and I told her she’s cooking dinner. It just cost you I thought it was like 9000, it is now 10,000. Daria Dolan: 10,500 Ken Dolan: 10,500. You know you’re in money trouble turning it down for credit, you know you’re in money trouble like I said it if you don’t check your credit card statements. You know you’re in credit trouble if you can’t make minimum payments. Daria Dolan: Yup. If you can’t constantly think about it, you are worried about. Ken Dolan: Money matters Daria Dolan: And you’re not sleeping about it then you’ve got money problem. If you are using your credit cards for your necessity. Ken Dolan: Don’t start with me, I was in-line the other day like three bucks in a day, it was in publics, well I don’t know what it was. Daria Dolan: And let me tell you about something. I love the fact that you can get mileage with these cards. It is the worst thing that happened with too many consumers because I always pay my bills because I just used it until I can get mileage on my air trips. Ken Dolan: Whatever. Daria Dolan: The fact of the matter is don’t do it. The mileages of the perks aren’t working that much money anymore. Pay for food, pay your utilities; pay your necessities in cash. Ken Dolan: If you used more than three or four credit cards on a regular basis, shuffling around again and also you don’t know why you have too much month left at the end of your money. Why is that? Daria Dolan: No. Oh, yeah. Ken Dolan: You run out of money at the end of the month. I am trying to be fancy here. You are confusing me and you and everybody else. The point is you have another week to go on the month and the money is gone. Where is it gone? Newspapers, I don’t know a $4.00 coffee. We are not going to start taking lunch to work, you do without, and we are not doing that pizza penny routine. You should know where the money has gone. You know you’re in money trouble if some of those things. Be honest.