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Relationships of the New Generation

Aug 25

Posted by Ron Smith in Epiphany, News | 7 Comments

My Granddad and I were chatting the other day. We got into a bit of a debate about what relationships should look like and how much weight should be placed on communication.

We discussed real reasons why people get married. Now, this might sound shallow but people do regularly marry for money, comfort, sustainability, simplicity. I’m not just talking about gold diggers here either. Real people, who work real jobs, decide to marry a person not because their partner stimulates them but because they can achieve the “American dream” of success: A house, a car, a vacation, kids and retirement.

For my Granddads generation, achieving the dream was a priority after the war. Women weren’t really seen as “equals” and didn’t really have the ability to achieve the dream without men’s financial assistance. Women, it appears were dragged into this situation. I would also say then that men were also forced into this situation because it was the “right” thing to do.

Fast forward to today. We are in a time where the dream can be achieved being single and more and more people are choosing to do so. It’s not a societal norm to get married and with most people getting divorced today, it’s not overly appealing either.

So, if people don’t need a partner to achieve the dream why on earth would you marry in pursuit of it? I say no.

My Granddad and I discussed further and he stated that you can be happily married, have assets, raise kids, retire together, fully know your partner but never really “know” your partner and that’s ok. Most people do that.

Being young and naïve I begged to differ. I believe that people should only marry for companionship/love/intimacy. I would take it a step further and say that it’s our possessions that are getting in the way of our real happiness.

Life is hard for a single person. All the bills come addressed to you, if the car breaks you have to deal with it, on a Friday night you have to get creative and holidays are always awkward. Saying all that, I still cannot accept that people should get married just so they aren’t alone or can be seen as “being well off” according to the Jones of the dream.

However, I have come to see that all people aren’t looking for a communicative partner. They just want someone to understand them, let them be who they are and together achieve the greater goal known as “the dream.”

Maybe I am being too idealistic. Maybe I will be alone. Maybe I am expecting too much. Maybe.

Picking up at the bar

Jun 25

Posted by Ron Smith in News, Video Blog | 1 Comment

I discus why men go to the bar, what we do at the bar and what occurs after the bar. For any man watching this, don’t pretend like anything I am saying is not true. You are so guilty of it.

The Simple Dollar.com

Jan 23

Posted by Ron Smith in News | No Comments

I just read this story from www.thesimpledollar.com and I found it most interesting. Check the site out for awesome financial information.

When people discover a problem with their credit score, they often act rashly, doing things that seem as though they would improve your credit, but actually damage a credit score. Before we get into the ten mistakes to avoid, let’s first look at what makes up one’s credit score, as defined by Fair Isaac:

Although the exact formulas for calculating credit scores are closely guarded secrets, Fair Isaac has disclosed the following components and the approximate weighted contribution of each:

35%,- punctuality of payment in the past (only includes payments later than 30 days past due)
30% – the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)
15% – length of credit history
10% – types of credit used (installment, revolving, consumer finance)
10% – recent search for credit and/or amount of credit obtained recently

Mistake #1: Cancelling old credit cards. 15% of your credit score comes from the length of your credit history. Thus, cancelling your oldest credit card can often be a mistake. Also, if you have balances on other cards, cancelling an old credit card can also worsen your debt ratio, which makes up 30% of your score. If you don’t have other sources of credit that are older than seven years, you should not cancel your oldest credit card.

Mistake #2: Staying current on “most” of your cards. 35% of your score focuses on punctuality of payment, with only payments that are more than thirty days late affecting your score. If you’re going to be late on any cards, make up that payment before it’s thirty days late. Don’t keep up with all but one or two of your cards and let those go later and later; instead, juggle the cards a bit if you have to, but make sure you are not too late on any one card.

Mistake #3: Having too many open lines of credit. 10% of your score comes from the types of credit used. If you have a lot of sources of revolving credit (i.e., credit cards), you can be seen as a credit risk because you have the potential of racking up a lot of debt very quickly. Don’t open store credit cards just to get a discount, and if you have any recent store cards, cancel them once they’re paid off.

Mistake #4: Maxing out your cards. 30% of your score comes from the ratio of your credit card debt and your credit limits. Thus, if all of your cards are maxed out, your credit score is suffering even if you’re keeping up with the payments. Instead of charging and buying more and more, focus on paying down the cards with extra payments.

Mistake #5: Avoiding loans and debts. In the eyes of your credit report, no debt is effectively bad debt. If you’re a credit card teetotaler, you should still consider getting one and making an occasional purchase with it. I have a friend who has one credit card which is associated with his gas station chain of choice. He uses it just for gas purchases, racks up discounts on it, pays it off in full each month, and it helps him maintain a solid credit score in case he needs a loan.

Mistake #6: Requesting a credit limit reduction. Some people believe that they have too much credit and that they’re better off with a credit limit reduction. In fact, the only significant effect a limit reduction has on your credit score is a negative effect on your debt ratio. Only get a limit reduction if it has a huge psychological value for you; otherwise, it will hurt your credit score.

Mistake #7: Utilizing the first credit counseling service you hear about. Quite often, the ones that advertise the most are the ones that do the shoddiest job. Use the FTC’s advice and find a reputable credit counseling service in your area. Call several of them from the yellow pages and ask the questions from the FTC page to find ones that seem legitimate, then check with the Better Business Bureau before moving forward. Remember, your credit score will affect many of your financial moves for years, so don’t skimp out on your research if you’re thinking of using a counseling service.

Mistake #8: Declaring bankruptcy. Many people go forward with bankruptcy because they believe it’s the only way out. Instead of taking such a drastic measure, seek counseling first with one of the more legitimate sources mentioned above. Bankruptcy can really decimate your credit score for a very long time. Quite often, there are better solutions, such as negotiating with creditors and so forth.

Mistake #9: Practicing credit card arbitrage. This game can seriously damage your credit score if you’re not an expert. Shy away unless you’re financially stable and know exactly what you’re doing; if you make a mis-step, your credit score could easily be demolished.

Mistake #10: Never checking your credit report. Most people who behave well with their credit just assume that their credit is fine, but sometimes incorrect things can show up on your report. Visit annualcreditreport.com to get the free report that the United States government guarantees you from the three major agencies. Don’t go to freecreditreport.com; it’s a rip-off.