Money Deals You Should Refuseby Tim Manni
Whether times are tight or not, protecting your money should always be paramount. It’s easy to be swayed, even lured, by deals offering beneficial dividends. More often than not, these enticing deals can lead you down a path of debt. Now more than ever, consumers need to be investing their money, not losing it.
The Dolans are warning consumers of “9 Money Deals You Should Refuse:”
- 0% financing — We’ve all seen the car commercials promising this seemingly great deal. How great a deal is it? While “stellar” credit is usually needed to capture such offers, “you may actually save more every month and over the life of the loan by taking a rebate instead and applying it to your down payment.”
- Abnormally high interest savings accounts — “Be very skeptical when it comes to higher interest rates. Some banks are so seriously in need of cash right now that they’ll pay more than anyone else to get you in the door. Unless you’re an existing customer of that bank, just stay away.” Click here for “5 Warning Signs Your Bank Could Be In Trouble.”
- “Skip-a-payment” offers — “It may seem like a gift to be told you can skip a credit card payment for one month, but trust us — it’s more trouble and money than it’s worth. Don’t think for a moment that your balance stops accruing interest. In fact, even if you didn’t add any new charges during that “no-payment” month, you’d STILL end up with a higher balance than when that month started!”
Click here to read the rest of the Dolan’s “9 Money Deals You Should Refuse.”