Category: Debt Management, Relief & Consolidation
I Took Out a Higher Interest Rate Loan and I’m So Glad I did
About a few months ago, my condo building had a leak that damaged several units including mine. The total damage came out to be over $11,000. Although I had homeowners insurance, the process to file a claim would’ve taken over two months. If you’ve ever experienced anything like this, I’m sure you understand the dire need to get contractors out to fix the damage ASAP. This is when I looked into getting a personal loan to cover these expenses until the insurance company finalized the claim. I started my research on LendingTree and Credit Karma by looking at customer reviews, and started to apply for personal loans through their sites. The good thing about these two sites is that you can check your rates without impacting your
Don’t Make These 3 Mistakes As a Homebuyer
Buying a house has long been considered an essential element of the American Dream. It’s a rite of passage for many and is often the largest purchase any of us will ever make. Thanks in part to historically low interest rates, more people are buying homes today. There are many things that go into buying a home that can be easy to overlook in the excitement of home shopping. In fact, one of the worst financial mistakes you can make is getting into a house that’s not right for you. If you’re in the market for a house this year, make sure you aren’t guilty of making one of the following mistakes before signing the dotted line. Going Over Budget A budget might be the last
Debit or Credit? Here’s Why All the Stores Are Asking…
I couldn’t stop to think about why every transaction I make at the store requires me to push “debit or credit”. At the end of the day, it makes very little difference to me. The exact amount of money will leave my account one way or another. You would think that every purchase you make with your debit card would be processed as a debit transaction. But not so fast. Even after sliding your debit card, you’re prompted to select whether you would like the transaction to be processed as “debit” or “credit.” No, the machine is not simply asking you what type of card you hold in your hand. The selection you make comes with pros and cons: for you, for your bank
5 ways to reduce the pain of the inevitable
This article is by staff writer William Cowie. Jake and Kelly (not their real names) were very dear friends of ours. Well, Kelly is still, but her husband just recently passed away. Because he was healthy and active, it came as a complete shock to us all — especially to Kelly. A familiar division of labor had developed in their 40 years of marriage. Jake was the one who took care of everything. He naturally just assumed the role of handyman, car mechanic, and accountant. If it broke, he fixed it; if it needed gas, he filled it; and if it needed to be paid, he made sure the finances would accommodate it. Circumstances reinforce habits They both worked since becoming empty nesters, but a few years ago
Here’s How Obama’s New ‘Student Aid Bill of Rights’ will Affect You
Over 70{7dabfd103aa443fce219eea47f0f346a11a54ce587a1a0cbb74f06b9f7a304ca} of those earning a bachelor’s degree graduate with debt averaging almost $30,000. It’s been called a “student debt crisis” as the cost of college education rises (the cost of college has increased 225{7dabfd103aa443fce219eea47f0f346a11a54ce587a1a0cbb74f06b9f7a304ca} over the last 30 years) and new graduates struggle with repayment plans (complaints against student lenders went up 38{7dabfd103aa443fce219eea47f0f346a11a54ce587a1a0cbb74f06b9f7a304ca} last year) There’s some comfort to have in knowing that the federal government wants to reform and improve the process of applying and repaying student loans. Obama, through a presidential memorandum in March, addressed major student loan issues in the “Student Aid Bill of Rights.” It seeks to “ensure strong consumer protections for student loan borrowers” by reminding student borrowers of recent or upcoming changes to the student loan process. So, what exactly
Do You Have a Fear of Spending? Here’s How I Managed It…
When I was 19 and on my own for the first time, grocery shopping was always a struggle. Not only was I completely clueless when it came to cooking anything besides spaghetti, but the thought of handing over such a huge chunk of my money at the end of every shopping trip made my stomach churn. I was terrified of spending money and running out of the cash reserves I had, so I would spend days at a time eating whatever I could pull together. Usually these makeshift meals were almost completely void of nutrition. Truth be told, I was worrying for nothing. Not only did I still have some financial support from my parents, but I had a steady job and could more than afford to pay
How to minimize your grad school debt
This article is by staff writer Honey Smith. If you or a loved one will be headed to graduate school this fall, chances are you are worried about more than dorm survival. Instead, you may be wondering how to avoid six-digit student loan debt. It’s a valid fear — no one wants to end up where I started. Fortunately, there are ways to earn a graduate degree while avoiding financial catastrophe. Using myself as an object lesson, here are some strategies I would recommend: Reverse-engineer the problem Consider the degree you are interested in and ask yourself some tough questions: How easy will it be to find a job with that degree? Will you have to make other types of sacrifices to get a
I Lost Control of Money During a Break Up, Don’t Make The Same Mistakes I did
After breaking up with a guy who I had dated for almost 10 years, I immediately went to the mall and spent over $1,000 on new clothing. The next day, I decided that I wanted to learn how to go camping and went to REI to buy over $500 in camping supplies. Retail confession: this was the start of a debt-filled journey to get over my ex. Spending a ton of money on new clothing, new hobbies (along with every accessory for that hobby), and all-girls trips to the spa, fancy restaurants, and the hottest new bars would make me feel better, right? My plan in retail therapy completely backfired months later when I came to the realization that I had racked up thousands of dollars
There Are No Better Words Than “Thank You!”
Today is Monday, but it’s not a normal Monday. Today is Memorial Day. Yes, many workers get the day off, including me, but I feel we might forget about what this day is all about. No, Memorial Day is not about saving money on buying a new car or getting a new mattress. Yes, retailers pour it on during this weekend and weeks leading up to Memorial Day. Many see this day as one to enjoy a day off and save 50{7dabfd103aa443fce219eea47f0f346a11a54ce587a1a0cbb74f06b9f7a304ca} on their next purchase at a big store. Sales are rampant, but let’s remember today is to thank those who gave their lives for what we have. Memorial Day is to celebrate the lives of those who died serving in the US military
Mint vs. Personal Capital – The Ultimate Financial Tool Throwdown
It’s here my financial friends. The ultimate throwdown! Today, we pit two of the best financial tools against each other to see who comes out on top. That’s right, we are going to compare Mint.com and Personal Capital to see which free tool is better! I got this idea back when someone submitted a question on our new Q&A board. It basically asked “Mint.com vs Personal Capital?” Now, this is highly subjective as it’s my opinion on the matter. I plan on comparing the features of each service and see which one wins. There will be several categories. We could see Mint winning or Personal Capital taking it. Who knows, but no matter what happens, let’s just say
You Can Start Saving a Lot of Money By Following These Simple Steps
Willpower, the well-meant angel on our shoulder, has an extremely tough job to tend to. It’s the over-seer of so many things we’d rather forget: our budget, eating plan, or exercise routine. Despite how hard it works to keep us on the right path, it usually can’t stand up to our whims and cravings. Saving money isn’t easy. It’s something we all struggle with. When it comes to money, the result of our ability to silence our willpower is an instant gratification mentality and a financial foundation that is rocky at best. Fortunately, there are other ways to save money that don’t require a constant battl. Here are a few. Make it automatic Decision fatigue is real. It’s something the majority of us
