Living with credit

Emily’s list: Oil spill, six months later edition

Emily Crone

It’s hard to believe, but it’s been six months since BP’s devastating oil rig explosion and subsequent leak took place. Although the oil was contained some time ago, the incident is far from resolved.

Emily's list: Oil spill, six months later editionAccording to USA Today, scientists and government officials are still tallying the number of injured and dead wildlife and documenting the damage to shorelines and marshes. They say the work to fully restore the area could take years.

Lingering problems such as the oil spill remind me of credit. It takes hard work and discipline to build and maintain a good credit rating. But what happens when we have an emergency or don’t quite understand how credit works, and we find ourselves with bad credit, debt collection notices or even bankruptcy?

If those things happen, they tarnish our reputation, and not just briefly. They linger for a long time, making it hard to clean up. And if we aren’t cognizant of the long-term effects of these negative actions on our credit, we could find ourselves mopping up the damage for much longer than we expected.

To get tips on how to prevent mopping up your debt-related mistakes, read on for my favorite personal finance blog posts from the past week.

1. Wealth Pilgrim offers three tips on preparing your children for a healthy relationship with credit cards.

2. All Financial Matters posts an endearing conversation he had with his 6-year-old daughter to discuss how much she knew about money. It’s interesting insight into the brain of a young kid!

3. If you are going to apply for loans or insurance, your credit score will be taken into consideration. Grad Money Matters explains 10 ways you can boost a low credit score.

4. Have your debt or budget problems left you with a bad taste for finance? Dumb Little Man explains 10 steps you can take to make peace with money.

5. Ready to be debt-free? No Credit Needed explains how you can succeed at reducing your debt.

6. Some of us focus so much energy on saving or shedding debt that we get frugal fatigue. Money Ning discusses how to avoid this by enjoying small splurges that cost almost nothing or nothing at all.

7. As the weather gets colder, our heating bills go up. Gather Little by Little offers advice on how to save money on your heating costs this winter.

8. Generation X Finance reveals 10 tips you can use to successfully negotiate with creditors wanting your money.

9. In the same vein, The Wisdom Journal provides some general tips on negotiation, which he says can be used for anything from buying a home to when you get the wrong order at a restaurant.

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, we ask that you do not disclose confidential or personal information such as your bank account numbers, social security numbers, etc. Keep in mind that anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.

  • JLP

    Thanks very much for the link.