Category: Editorial

As the holidays come closer and closer, it’s best to make a plan for smart holiday shopping this year. The first place to start is with a holiday budget. You need to set a reasonable amount that you will be able to spend to get everything you want or need without letting the spending get out [...]

You’re just out of college, starting your first job. Building long-term financial security is probably the last thing on your mind. But. young people just entering the workforce must not underestimate the importance of financial planning geared toward saving for the future. One of the best deals is an employer-sponsored retirement plan such as a 401(k) [...]

Getting back on your feet following bankruptcy can be a very difficult task. You’ll be starting from scratch. It’s critical to your future financial success to make sure you don’t make the same mistakes . To ensure you make a “fresh” start, you need to think and analyze your previous spending habits. What really lead [...]

Interest rates have fallen so much, it may seem like a no brainer to refinance your home mortgage. The decision to refinance your mortgage isn’t one that should be taken lightly. Before deciding, you need to understand all that refinancing involves. Your home may be your most valuable financial asset, so you want to be [...]

We’ve come to accept that our credit history will be pulled and checked if we want to borrow money. That’s fair enough. We’ve begrudgingly accepted that insurers set car or home insurance premiums in part based on how customers handle their credit. A growing number of people affected by record joblessness and foreclosure rates nationwide [...]

Retirement is supposed to be a time when leisure and money are entirely your own, but it seems bankruptcy is a growing problem for those over 65. It is estimated that people over 65 now make up seven percent of bankruptcy filings. Retirees are now the fastest growing demographic. Much of this is blamed on [...]

Adjustable rate mortgages seem like a homeowners dream. An adjustable rate mortgage starts you off with a low interest rate for the first two to five years. They allow you to buy a larger house than you can normally qualify for and have lower payments that you can afford. After two to five years the [...]

If you are one of the millions of Americans out of work, and your cash flow has been impacted dramatically, there are several things you should do especially if you are carrying large credit card balances. If you know you will be going delinquent on your payments, you should stop using your credit cards immediately, [...]

Sometimes saving money is right under your fingertips. If you haven’t already practiced cutting your expenses, you might be surprised how much you can save. Take a closer look at your bank statement. Are there service charges and fees being deducted from your balance that could be eliminated? Give your banking center a phone call, [...]

Financial stress is common if you are facing economic distress as a result of a lost job, divorce, death in the family, or being over your head in debt. This can lead to feelings of insecurity, fear, anxiety, anger, and depression. These feelings can cause you to continue to make poor money management decisions. These [...]

Let’s face it, now a days, a high credit score isn’t easy to achieve. Not only do you have to master the basics — maintaining positive payment history and a low debt to credit ratio, but in order to be part of the upper echelon, you must pay attention to details as well. Knowing what [...]

Although it is extremely easy to get into massive amounts of debt very quickly, it takes time, discipline, and commitment to get out of debt. You have to make a life-changing decision that you no longer wish to be in debt because getting out of debt is going to affect every area of your life. [...]

Debt consolidation is a way to collect all your individual debts and lump them into a single loan. It works well to combine overdraft, credit card, and automobile loans. By consolidating your debt you only make one payment to one creditor. Usually, you can negotiate better terms, a lower interest rate, and quicker payoff times. [...]

Impulse buying makes you spend money on items you may not really need or want. It is buying something that isn’t within budget or a part of a monthly spending plan.  It’s a purchase that isn’t necessary, and one of the largest causes of consumer debt each year. To avoid impulse buying you need to [...]

Just as with many other life lessons you will teach your kids, it is important to instill sound money management principles in children. As you attempt to instill other good habits in your youth, do not ignore a vital ingredient: financial awareness. Many children grow to adulthood, lacking the skills and ability to handle money. [...]

Many parents are struggling to pay for their children’s education. Not only has the cost of continuing education skyrocketed, there is a lot of pressure to provide your child with the tools they need to have the best possible chance in an increasingly competitive job market. Despite this pressure, if you want long term financial [...]

Overwhelming credit card debt. It is a very common problem for many Americans.Many people pay only their monthly minimums, month after month, without any knowledge that their debt burden may never go away. If you come to the realization that you are caught in a never ending payment schedule, you may need professional help. The [...]

Saving money is one of the single most important steps to achieving most of your financial goals in life and becoming financially sound. The sooner you begin to save, the better of you will be. Having a savings in place can also serve as a form of protection during a financial crisis such as job [...]

At one time or another, all of us have forgotten to pay a bill or fallen behind on payments to credit cards, mortgages, autos, medical bills, or other situations involving bills. We have all therefore been contacted by a bill collector, ether through the mail or telephone call.  Some these calls and correspondence can become [...]

So, maybe you budget. You make an allowance for food, clothes, entertainment. But do you have an allowance for medical costs? Here’s why you should: The No. 1 cause of bankruptcy is medical bills. Medical illness can be a financial nightmare leading to bankruptcy. Studies show that 62 percent of all bankruptcies are caused by medical bills. Even [...]