Comments on: Personal Finance Part 2 http://brentdowney.wordpress.com/2008/09/13/personal-finance-part-2/ Where "simplicity is the ultimate sophistication" - Leonardo da Vinci Mon, 12 Oct 2009 21:29:52 +0000 http://wordpress.com/ hourly 1 By: Charlie Harper http://brentdowney.wordpress.com/2008/09/13/personal-finance-part-2/#comment-13 Charlie Harper Mon, 15 Sep 2008 03:25:41 +0000 http://brentdowney.wordpress.com/?p=86#comment-13 I took the Crown Financial class about a year ago and reading through you page reminds me of some great things I learned. Thanks for bloggin! I took the Crown Financial class about a year ago and reading through you page reminds me of some great things I learned. Thanks for bloggin!

]]> By: Laura Schmidt http://brentdowney.wordpress.com/2008/09/13/personal-finance-part-2/#comment-9 Laura Schmidt Sun, 14 Sep 2008 02:30:09 +0000 http://brentdowney.wordpress.com/?p=86#comment-9 Thanks for spending the time to discuss personal finance. I have agreed and practice a majority of the concepts you have discuss, which is good affirmation that I am on my way to successfully managing my personal finances. I, too, have grown up in a family where my parents managed our finances extremely well and have been good coaches on how to manage my own finances, especially now that I am out of college and living on my own. I also liked how you discussed how as Christians we are called to be good stewards of our money. I have to constantly keep myself in check with this because I do support raise for my job and feel like I have an even higher obligation in being a good steward of my money, as a "missionary", so to speak. I did have one question/comment about something you discussed in step one. You mentioned how as you are building a savings, you should pay the minimum on your accounts each month. Though I understand the idea of building a savings, my personal opinion has always been to pay off my CC bill in full every month. Granted, I usually don't allow myself to build up a bill that I can't pay off at the end of the month. However, are you referring more to people who already have CC debt? If that is the case, then I can better understand where you are coming from in the "Step 1" section. One of the main reasons I have a CC is so that I can build up credit, which is very important especially as a young adult. And if you don't pay off your bill every month, your credit score will definitely show the difference compared to if you did pay off your bill every month. I don't know how big of different it would be, but there would be a difference. Do you have any idea what the difference may look like on your credit score when comparing paying off your bill every month versus paying the minimum every month? Anyways...those were just a few of my thoughts. Keep up the good writing. I think your writing is very easy to read and understand and could be a huge help to college students and young adults, who are probably just learning how to manage finances. Maybe you should write a book :) Thanks for spending the time to discuss personal finance. I have agreed and practice a majority of the concepts you have discuss, which is good affirmation that I am on my way to successfully managing my personal finances. I, too, have grown up in a family where my parents managed our finances extremely well and have been good coaches on how to manage my own finances, especially now that I am out of college and living on my own. I also liked how you discussed how as Christians we are called to be good stewards of our money. I have to constantly keep myself in check with this because I do support raise for my job and feel like I have an even higher obligation in being a good steward of my money, as a “missionary”, so to speak.

I did have one question/comment about something you discussed in step one. You mentioned how as you are building a savings, you should pay the minimum on your accounts each month. Though I understand the idea of building a savings, my personal opinion has always been to pay off my CC bill in full every month. Granted, I usually don’t allow myself to build up a bill that I can’t pay off at the end of the month. However, are you referring more to people who already have CC debt? If that is the case, then I can better understand where you are coming from in the “Step 1″ section.

One of the main reasons I have a CC is so that I can build up credit, which is very important especially as a young adult. And if you don’t pay off your bill every month, your credit score will definitely show the difference compared to if you did pay off your bill every month. I don’t know how big of different it would be, but there would be a difference. Do you have any idea what the difference may look like on your credit score when comparing paying off your bill every month versus paying the minimum every month?

Anyways…those were just a few of my thoughts. Keep up the good writing. I think your writing is very easy to read and understand and could be a huge help to college students and young adults, who are probably just learning how to manage finances. Maybe you should write a book :)

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