Maxed Out focuses on banks and financial institutions that lend money to people who are less than credit worthy, knowing they can’t or won’t pay their bills. These credit card companies and banks make the majority of their profits off the late charges, over the limit fees and high interest they charge to people who are behind on their payments.

The documentary uncovers the shady (and possibly illegal) practices of some of the nation’s largest banks, as they prey on the young and the poor. From giving credit cards to college kids with no income, to ruthless collection agencies that use scare tactics to get people to pay on their past due debts before putting food on the table, Maxed Out is a moving film that will have you seriously questioning our casual use of debt in this country.

Maxed Out is a moving and informative documentary that will make you think about the banking industry (and government) is a completely different way.

My truck got closer and I screamed “Stop!” but it was too late. My wife backed her Honda Pilot right into my Chevrolet Avalanche. And put big dents in both of them.

After a few minutes of cooling off we proceeded to the lake and had a great Fourth. On Saturday, we called the insurance company and realized that we had to pay two $500 deductibles, one for each vehicle.

It cost us $1000 for a simple accident.

It sucks. It makes me furious, because I work so hard for my money and my wife does too. $1000 is a lot of money for us, but fortunately we have it.

I would say I can’t imagine what it would be like without an emergency fund that would cover an accident or emergency like this, but I do know exactly what it’s like. For so long, we lived paycheck to paycheck. Every little emergency seemed like a red-alert crisis. The only options we had were borrow from family/friends or put it on a credit card.

Neither of those options sound good. They both lead to MORE stress, in an already stressful situation.

Build up an emergency fund of $500 – $1,000 for those inevitable small emergencies that are bound to occur. Having the money to cover it won’t make it hurt any less, but it will lessen the emotional impact and give you peace of mind to know that at least financially it’s taken care of.

Emergencies happen. Below are just some of the small emergencies that can really create a problem for many of us:

• Wreck or Mechanical Problem with your Car or Truck
• Emergency room visit
• Unexpected home repairs
• Unexpected tax bill

Have you ever noticed that when you don’t have any money, everything is an emergency? If your family household income is around $30,000 or less, put away at least $500. If your household income is more than $30,000, put away at least $1,000. Before you get out of debt, and before you buy anything else that’s not a necessity (not including bills of course).

Prepare yourself so when something happens (and it will) you’ll at least have the peace of mind that it’s paid for.