Category: Education

For many people, budgeting means suffering. But that is a myth. And there are many such myths people believe when it comes to personal budgeting. More than myth, these are excuses for not having a budget. Here are five of the most common budgeting myths. Myth #1 – Budgeting is suffering And how is that? [...]

It’s income tax season and many Americans have already planned what they will do with their refund check as soon as they get it. Making large purchases or taking a vacation are popular ways to spend tax money. Many consumers also use their tax refunds to pay down credit cards or other debt.  Whether you [...]

Why budget your paycheck today? It is important to manage your money. It enables you to meet your monthly financial obligations on time. Managing your finances also help increase your capability to save for your retirement, education funds or by simply having extra sitting in the bank. Budgeting your paycheck is an art. It is [...]

Most people with credit cards know the term balance transfer. They may have even been enticed by an offer in the mail. To those with an enormous amount of debt, it may seem counter-intuitive to get another credit card. But in the slowing economy, balance transfers can lower monthly expenses and play an important role in personal [...]

This time last year, several large banks announced they were adding debit-card fees to non-ATM transactions at retailers. This was to make up for the revenue they were losing thanks to a financial reform law that capped how much they could charge merchants.  The moves did not go unnoticed: The banks that proposed such fees [...]

Recently, several members of an online network were having a discussion about a payday loan. The payday loan company would loan someone $100, and they would have to pay $115.00 back two weeks later. What is the interest rate? (No, this isn’t a word problem on a math test!) The payday loan company said that [...]

In this difficult economy consumers are spending less, trying to save more and eliminate debt. Businesses on the other hand are trying to make up for the loss of revenue by adding more fees. Here are some of the ways consumers could be paying more. If you need to rent a car for a week [...]

Recently, two friends confessed they live check to check — a revelation worsened by the fact that they only check their bank balance once or twice a month. We called in the finance experts, and here’s what we decided they should do to get on track. “I check my balance once . . . every two [...]

These days, many consumers are becoming more conscious about the role their credit scores play in their everyday lives, but at the same time, they may not know exactly what goes into it, and what they can do to improve it.About 42 percent of consumers have checked their credit scores in the past 12 months, [...]

Consumers are now handling their credit card accounts more responsibly after going half a year with more troubling statistics coming out about their spending and repayment habits. Instances of consumer credit card delinquency — defined as accounts that have gone 90 days or more without a payment — declined between the fourth quarter of 2011 [...]

In the latest of a series of research reports, the Center for Responsible Lending (CRL) has found that payday loan customers remain indebted double the time that the Federal Deposit Insurance Corporation recommends. “Payday Loans Inc.: Short on Credit, Long on Debt” verifies how what begins as usually a two-week, small-dollar loan becomes a deepening [...]

Due to the recent state of our economy, many people have been confronted with an unpredictable loss of income as companies are forced to restructure their workforce. Layoffs, downsizing and foreclosure seem to be constantly in the news. Companies are also cutting back on overtime, which can cause a profound reduction in income while salaried [...]

If you are struggling to pay your credit cards or other unsecured debts each month and you simply to do not have sufficient income to balance your budget, there are three primary options that may provide you the relief you need. Debt Management Plans (DMPs) DMPs are offered by your creditors through authorized credit counseling [...]

STEPS TO OBTAIN FREE ONLINE CREDIT REPORT   Step 1: Open a browser and go to www.annualcreditreport.com. Step 2: Select your state using the drop down menu and click “Request Report”. Step 3: Complete the online form and click “Continue”. Step 4: Click on the check box next to TransUnion (you may also choose Experian or [...]

Are you in Debt Trouble? Here are some ways to tell if you are. 1. You do not have any savings. 2. You make minimum payments on your credit cards. 3. You use credit cards for things you used to buy with cash, such as groceries. 4. You use increasing amounts of your total income [...]

Getting out of debt is a great concern for Americans today. Those who suffer from extreme debt often feel like there is no way out of their situation, but the reality is that with careful planning even those in the direst circumstances can look forward to a debt-free tomorrow. There are many different options for [...]

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 [...]