http://personalmoneystore.com/moneyblog/2009/01/12/shopaholic-confession-a-cash-advance-could-have-saved-the-day/ There was once a girl who chose to partner with her credit card, when she should have befriended a Cash Advance instead.
Confessions of a Shopaholic
Jimmy Choo shoes.
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Becky Bloomwood of, Confessions of a Shopaholic, fame is the poster girl for young career women whose paths toward success require a pair or two of Jimmy Choos and a basic Louis Vuitton bag. The problem, though, is the fact that Becky, like many of these women, almost never makes the direct correlation between credit and cash. They should, however, make this correlation because an uninformed pattern of credit card use may end up in huge payables that may take years to bring back to a positive standing.
Fact is stranger than fiction
The novel, owing to its fictional nature, shows how Becky forges on to use credit irresponsibly, making up excuses each time about how she absolutely needs that new dress or set of designer luggage. But the saying that, truth is stranger than fiction, applies in many cases of young women in this same situation, treating their new credit cards as unending sources of cash that will pay for themselves somehow. Throughout the book, Becky is hounded by letters from her credit cards bank manager, who repeatedly reminds her of her dues. Ironically, Becky is a financial journalist—albeit one who knows finance in theory, but not in practice.
Cash over Credit
What Becky could have done from the start was to set an amount to cover all her potential expenses—a budget, in simple terms—and taken out a Cash Advance, if necessary. Since her salary obviously isnt enough to pay for all these new investments, a payday loan that would allow her to purchase a few classic pieces—such as a good pair of shoes and a well-made business suit—would have given Becky the responsibility of managing a fixed amount that she can apply and pay for without hassle. Once this has been paid, she can choose to get another one, so she can buy that new outfit at Selfridges or a Denny and George scarf. To read more on this article please visit...http://personalmoneystore.com/moneyblog/2009/01/12/shopaholic-confession-a-cash-advance-could-have-saved-the-day/
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