Just say no to these financial products

There are a lot of great financial products available these days. Roth IRAs are awesome. A 401(k) is your friend. Credit cards can be a great financial weapon when handled correctly. But, there are also some financial products out there that are absolute garbage. And I’m not talking about the trashcan by your desk. I’m talking about the dumpster behind your favorite burger joint. Here are three financial products you should avoid…

Extended warranties: You’ll find extended warranties are available on a lot of tech and gadgets, and honestly it’s just not worth your time. Chances are, whatever tech you buy is going to be dated after a year or two, so you’ll be replacing it anyway. For something like a TV, it’s more than likely going to last longer than you want it to. For TV junkies like me, a TV dying is the birthday of a bigger, brighter one!

Payday loans: Sometimes you might find yourself needing some extra cash in a pinch, but a payday loan isn’t the answer. If you love paying ridiculously high interest rates, then you’re a special person. Seriously, avoid that bad decision and talk to your local credit union about options they may have for your money woes.

Retail credit cards: Speaking of high interest rates, store credit cards specialize in those. You may think it’s a good idea to get a store card that will immediately allow you to save a few bucks on a big purchase, but if it’s a store you enjoy frequenting, you’re setting yourself up for failure and the loss of cash that should be staying put. Just say no to store credit cards.