Personal Credit
Whether you went on a few too many credit card-fueled shopping sprees, missed a series of payments that damaged your credit report, or lost your job for a prolonged period of time, there are ways to fix your credit and take control of your financial future. It starts with getting back to financial basics and creating a realistic plan that will help you achieve your financial goals. Here are some things you can do right away to make a financial comeback after a setback:
Check your credit report. You are entitled to one (1) free credit report each year Continue Reading »
Personal Finance, Personal Savings
Not so long ago, once the last tuition bill was paid parents got their house — and their budget — back to themselves. But today’s tight job market has put the empty-nest fantasy on hold for many: according to the Pew Research Center, nearly 30% of adults ages 25 to 34 live with their parents.
Most of these young adults eventually become employed, move out, and shift (mostly) off the parental payroll. When that time comes, you need a financial plan that’s not based on the kids living at home but is more focused on your needs. A few Continue Reading »
Personal Savings
Let’s face it – it’s hard to save money when bills are piling up and you feel like you’re living paycheck to paycheck. So, what are some ways you can save that are a bit more unconventional, but will get you some positive cash reserves?
Automatic bank deductions: One great thing about the digital age is that you can automate a lot of your personal finances – including your savings. It is a fairly standard feature for most banks to allow you to automatically transfer funds from one account to another. You can simply set-it-and-forget-it, which helps ease the Continue Reading »
Home Ownership
If your eyes start to glaze over when you think about the expense involved in refinancing your current mortgage, then you could benefit from these tips for keeping your mortgage refi closing costs low.
Dig into the closing costs line by line with your loan officer. As required by law, refinancing home owners are quoted a mortgage interest rate and then receive a Good Faith Estimate of closing costs. Unfortunately, most borrowers only look at the bottom line and do not ask questions about specific charges. If you’re unsure about a specific cost, have your loan officer explain it Continue Reading »
Personal Savings
Getting young children to save is becoming more difficult at a time it’s becoming more important. Chances are today’s elementary school kids are going to have to fund not only their own retirement, but also a large portion of their personal health care, insurance benefits, and more. They won’t be able to do that if they don’t learn the value of savings at an early age.
However, is it fair to tell a 9-year-old to save just because it’s good for her? Incentives matter, and the current low interest rates on savings accounts make it difficult to convince anyone Continue Reading »
Personal Credit
There have been many unsavory fallouts from the recent recession, but one of the worst is unscrupulous companies touting “credit repair” and “credit counselors” who offer to help you get out of debt for a fee.
Many legitimate nonprofit organizations do work with borrowers, and there is a growing cadre of volunteers who negotiate debt on behalf of overwhelmed borrowers on the verge of bankruptcy. But these organizations can not erase bad debt or wipe out a bad credit score.
If you do seek out an organization to help you get a handle on your outstanding debt, choose a Continue Reading »
