All throughout April, we’re posting educational financial literacy content in honor of national Financial Literacy Month. One of the key financial literacy topics that people don’t readily grasp is calculating interest. Many of us are fine with basic math, but when it comes to estimating gains or costs associated with interest rates, we struggle. A…
Posts By: Melinda Opperman
Big changes are underway with regard to credit reporting, and those changes will impact how credit scores are calculated. These changes appear across the board to be good for consumers. The reform is a voluntary effort by the 3 major credit bureaus—Experian, Equifax, and TransUnion—and it’s called the “National Consumer Assistance Plan”. This idea has…
Over the past few years there’s a trend online of financial experts recommending college students get credit cards. Is this really a good idea? This strain of advice usually includes some of the following arguments: Having credit helps establish a good credit history. Using credit early is educational and can teach the user how to…
Bullet Journaling is a popular way to organize your life on paper. People with a lot of to-do lists and day planners have found that keeping a bullet journal is a great way to focus on their goals and track accomplishments. The core of a bullet journal is to start with organization–this is not a…
Many student loan borrowers feel helpless in the face of tens of thousands of dollars of student loan debt. There is popular support among them for student loan forgiveness, but there are misconceptions about these programs that need to be cleared up. A recent report from LendEDU found that nearly half of all college students…
Many student loan borrowers will end up on the phone with collectors, loan officers, or other interested parties hoping to ensure that loan payments will be made on time. With student loan debt at unprecedented levels, many more borrowers are destined to have these conversations. We have 5 tips to bear in mind when talking…
The debit card in your wallet is physically indistinguishable from your credit cards. It even has a Visa or MasterCard logo on it. Despite the similarities, it’s important to understand some key differences between the two kinds of cards. Credit card liability is limited for you. If your card is stolen or accessed fraudulently, the…
Our credit counseling and Debt Management Plans help with all kinds of revolving debts, including store credit cards and traditional bank-issued credit cards. Store cards can present some unique challenges for consumers. Stores will tempt you to sign up for a credit card by offering a long interest-free period or a big discount when applying…
We wrote yesterday about the pros and cons of going paperless, and switching from mailed bank & billing statements to electronic ones. If you do decide to make the switch, we’ve got some advice for how to do it: Save a permanent copy. Paper statements are permanent, but some creditors and banks won’t keep your…
More and more banks, creditors and utility companies are urging customers to go paperless and get all of their billing statements online. There are obvious advantages to this kind of arrangement—it’s better for the environment, for one—but there are downsides to consider. Should you go Paperless? Pros: Less waste Easier to gather info at tax…
February is American Heart Month, and we’d love to help you find ways to improve your heart health without jeopardizing your financial fitness. A gym membership can be a great way to keep active and do heart-healthy exercise, but we know from over 40 years of financial counseling that gym memberships can be a painful…
There is rare agreement among financial experts that consumers facing multiple credit card balances should focus their extra effort—and funds—on one debt at a time, and after that debt is paid off, put any extra funds toward the next debt on the list, and so on. While we all think this is the wisest plan…
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