Many news stories about debt revolve around the millennial generation. Debt troubles aren’t restricted to one generation, though, and as Baby Boomers enter retirement age, many of them worry how they’ll finance their “golden years.” If you’re hoping to retire debt-free, make a plan to tackle these common sources of Baby Boomer debt. Control Credit…
Posts Categorized: Credit and Debt
Wedding vows often involve some version of a promise to support each other “for richer or for poorer.” If you’re newly engaged, you’re probably bubbling over with emotions about intertwining your life with another person’s. But what if your future spouse’s debt adds nervousness to the excitement? I can relate. In my case, I was…
“I don’t know much about being a millionaire,” author and legendary writer Dorothy Parker once said, “but I’ll bet I’d be darling at it.” Wouldn’t we all! While most of us won’t be buying a yacht anytime soon, you can apply some smart advice from millionaires to your life on almost any paycheck. Pay Yourself…
Many of us treat our twenties as a time for exploration and a few mistakes while we figure out what to do with our lives. Don’t let credit mistakes haunt you. Here’s what I wish they taught about using credit as a young adult. Build Credit However You Can Credit isn’t just an alternative to…
Last updated: 11/22/2017 One law that changed credit card statements was the Credit CARD (Credit Card Accountability, Responsibility and Disclosure) Act of 2009, which required a clear disclosure on the statement about minimum payments. This mandated disclosure must inform the borrower how long it will take to pay off a credit card balance if s/he…
Thanks to the modern approval processes, applying for a new credit card from a credit card company, a bank or even a department store is as easy as answering a few questions. With the number of discounts offered at many major retailers, applying for a credit card at your favorite store can be tempting. But…
If you’re in the market as a first-time home buyer, you’ll probably be concerned about your down payment. There is a lot of conflicting information and advice about how much you really need to have. How can you effectively save money? How Much Should Your Down Payment Be? You’ll see a lot of advice suggesting…
September was National Preparedness Month. The month is designed to encourage individuals and families to plan ahead for emergencies or natural disasters. Much of the pre- planning will center on creating an emergency kit with supplies you might need, and just as important, making a plan for what to do if disaster strikes in or…
Many people know when they’re struggling financially. Intuitively, we feel the pressure of not having enough cash to meet all of our obligations. If you live on a cash basis, you will find yourself with no choice but to stop spending when the money runs out. Credit and debt distort our intuitions. When you charge…
Debt can be daunting and often lead to feelings of helplessness and stress. However, it is important to remember that debt is common for many individuals and there is always hope to move forward and live life on your own terms, completely debt-free. We want to help you break the cycle and conquer your debts—all…
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…
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…
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