Receiving the first call from a debt collection agency can be unsettling and just the tip of the iceberg in a long row of stressful situations. Debt collectors are known for working on the border of law or even crossing it a few times to get their commissions. Yet, even if you are aware that[…]
Money is the first cause of divorce, as much as 57% of couples cited financial issues as their main disagreement. Troubles include not talking about money; power plays around earning and irresponsible spending, in particular by the spouse who is not the primary breadwinner. A successful marriage requires compatibility on many levels, and although personality,[…]
For most people keeping track of payments is a chore, like doing the dishes or the laundry. The last two were automated decades ago by the invention of appropriate machines which do the tedious work. You can choose to automate your payments and save yourself some time, money and remove the worries about keeping a[…]
First, what is exactly is a bad credit score? Depending on your needs and financial aspirations, it could mean anything from below 550 up to 700 if you are aiming for a great rate. The downside of a lower score translates in additional payment burden, as you can expect an interest rate of 5-12% for[…]
Even if you are in your twenties, still paying student loans and living paycheck to paycheck, it is not too early to think about retirement. It might seem that you are in a different era of your life, but saving is a matter of habit, and good habits formed in your youth are the ones[…]
Paying your debt such as student loans or a mortgage is no easy task, but doing so on a single income, is even more challenging. If you are responsible for the bills every month and you dream about getting out of debt, you can try adapting a management tool that rebuilt Japan after WWII. Called[…]
You expect to work, earn an income and support yourself for many productive years, stopping only when you’re ready to retire on your own terms. That’s what everyone wants. But what if life doesn’t cooperate? If health problems prematurely stop you from working, it could collapse your finances. The Social Security Disability Insurance (SSDI) program,[…]
It has been long enough already since the idea that millennials don’t want to buy a home and settle down has been thrown into the press and tossed around from one infographic to another. The problem is that this opinion was circulated during or right after the late 2000’s crisis, when just the older members[…]
The advent of online shopping has helped the humankind in doing tasks easier. You don’t have to leave home just to buy something. In no time, you will receive your order by simply paying for these items online using your credit card. This might seem like a big favor for you, but it also puts[…]
Tax deductions are the State’s way of saying “thank you” or “we care”. This is an amount of money that can be subtracted from your gross income and not be subject to income tax and generally varies from one state to the other and is heavily influenced by the contributor’s own situation including factors such[…]
If you are in the lending and credit game, your best friend and potentially your biggest enemy is the FICO score, a number usually scaled between 300 and 850, computed as a weighted average of factors assessing your financial management and spending behaviors, claiming it can assess the risk you represent for a lender. Short[…]
Debt in any way is a necessary evil of the modern world. The “now” culture has forced us to eliminate postponing wishes from out behavior and has reduced saving habits to a minimum, if not a negative value. While some spending is an investment, like student loans, shopping sprees at the mall can hardly be[…]