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Savings tales: Life without credit or debt

Live under your means -- not within them
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Live under your means -- not within them

"After my divorce, I had to crack down on spending and make an about-face on the reckless spending patterns of the previous 30 years. At the time of my divorce, my credit score was 485.

"Within the past five years, I was able to boost my income, cut back my expenses, and with a single refinance, pay off all my debt. Today my credit score is 710, and other than my mortgage, I have no debt!

"I pay cash for everything. My new motto is: Live under my means -- not within them.

"I'm actually managing my finances with the same basic expenses as when we were a two-income family, only now it's just me. And I'm covering everything and able to save as well.

"My life is simpler, less stressful and more fulfilling when not tied to debt or the pressure to have more, more -- and did I mention -- more?"
-- Giovanna, El Cajon, Calif.


 

 

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REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 3.99%  0.09 4.08%
15 year fixed refi 3.07%  0.11 3.18%
10 year fixed refi 3.13%  0.08 3.21%
 
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Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.02 4.30%
50K FICO-based HELOC 3.98%  0.02 3.96%
100K FICO-based HELOC 3.83%  0.02 3.81%
 
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Product Rate Change Last week
60 month used car loan 2.75% --0.00 2.75%
48 month used car loan 2.99% --0.00 2.99%
60 month new car loan 3.18%  0.02 3.20%
 
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Product Rate Change Last week
1 Year CD 0.99% --0.00 0.99%
2 Year CD 1.22% --0.00 1.22%
5 Year CD 1.87% --0.00 1.87%
 
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Product Rate Change Last week
Balance Transfer Cards 15.76% --0.00 15.76%
Cash Back Cards 16.44% --0.00 16.44%
Low Interest Cards 11.04% --0.00 11.04%
 
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