Image from Flickr.

Zhu Zhu pets might be unsafe, according to consumer group Good Guide. The little hamster robots that have won the hearts of Americans are now under investigation. The Consumer Product Safety Commission is running tests to find out the levels of antimony and whether Zhu Zhu pets have unsafe levels of the chemical.

Good Guide says antimony can cause cancer, lung and heart problems. The group also says the light brown hamster, Mr. Squiggles, contains unsafe levels of antimony. Parents might be wise to wait until the federal commission completes its tests before they blow all their cash til payday on Zhu Zhu pets that might be unsafe.

Details on whether Zhu Zhu pets are unsafe

The federal government says levels of antimony up to 60 parts per million are considered safe. However, Dara O’Rourke, co-founder of the California-based GoodGuide, says that the group found levels between 93 and 106 parts per million in Mr. Squiggles. The maker of Zhu Zhu pets, though, says the toys are safe.

“All our products are subjected to several levels of rigorous safety testing conducted by our own internal teams, as well as the world’s leading independent quality assurance testing organization, and also by independent labs engaged by our retail partners,” Russ Hornsby, CEO of Cepia, said in a written statement. “The results of every test prove that our products are in compliance with all government and industry safety standards.”

Cepia is based in St. Louis, Missouri, and the Zhu Zhu pets have become very popular in the United States as well as Europe.

Feds say investigation will be swift

The Consumer Product Safety Commission has said it will complete the investigation into whether Zhu Zhu pets are unsafe quickly. So, if Zhu Zhu pets are on your holiday shopping list, you might want to sit tight until the commission determines whether Zhu Zhu pets are unsafe.

(Photo: flickr.com)

Whenever you purchase something on credit, whether it’s a product or service, we all find out about the magic of revolving credit. Whether it’s a mortgage, student loan, car payment or credit card payment, you’re paying two different things if you don’t pay off the credit in full immediately: principle and interest. Pay off the former and you’re done. If you’re only paying the latter, your adventure has just begun. It may leave you with a bit more cash til payday in the short run, but you’ll end up having to pay much more in interest charges over the long haul. The reverse – which is the more healthy financial decision – means that while you may find yourself in need of a cash til payday loan once in a while, you’ll be saving much more money over the years.

Go above and beyond

The best way to quickly reduce the principle balance of a loan or line of revolving credit is to make payments that go beyond the minimum monthly payment. This is contrary to what most Americans do, however. Making the minimum payment each month may free up short-term cash for consumers, but it ends up costing much more in the long term, thanks to compounding interest.

But won’t that leave you broke?

Not if you budget properly. As everything is expensive these days, it’s understandable that people aren’t looking to part with additional funds each month. This is typically the kind of thinking that goes into making minimum payments each month on loans and credit. Yet the best way to protect your finances long-term is to pay more than the minimum each month. That way, both interest and principle are paid down more quickly.

Get a jump on your financial future

If getting a jump on those interest and principle balance payments is your goal, some planning is in order. The best way to do this is to look at your budget. Once you’ve taken care of the monthly essentials, see how much you can afford to pay above and beyond the monthly minimum. If you’re used to paying a minimum of, say, $900 per month on your mortgage, try $1,000. With credit cards, try to pay at least double the minimum if you can, as these cards typically bear high interest rates. The more you can pay now, the less you’ll be paying for months and years. Sure, use a cash til payday loan if you need in an emergency… the end result will be all the sweeter. I’ll even give you a magic button you can use to apply for one, in case you’re in that spot right now

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Like anything else, making radical changes – in this case to your budget – requires a significant adjustment period. Be patient and understand that unexpected expenses do happen. Be flexible; you will have to adjust on the fly. Once you get the hang of it, however, you’ll be well on your way to paying off your major purchases. Paying off a 30-year mortgage or a 48-month car loan before their time ends up costing you much less in the long run. Who wouldn’t want to do that?

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