All posts by Michael Peterson

Seven Things to Do After a Data Breach

Capital One. Marriott.  Panera. Target. Twitter. Facebook. The U.S. military.  What do all of these companies and organizations have in common? They’ve all been the targets of massive data breaches – breaches that affected millions of users and exposed everything from names and addresses to account numbers, passwords, and Social Security numbers. And those are just a few of the most publicized breaches in recent years. Here’s a sobering...

What to Know when Debt Collectors Come Calling

Few things in life are more stressful than a call from a debt collector. After all, the feeling of being in debt is worrisome enough, especially if you’re having trouble making your monthly payments. And while you can’t simply make your debt disappear (paying down debt takes hard work, dedication, and a solid budget), you can learn to stress less when the phone rings. Here are six things to...

What NOT to do When You’re Repairing Your Credit

So, you’ve had some money problems and are working to repair your good financial name. Good for you! Rebuilding your credit – or at least looking for ways to start down that path – will help ensure that, when the time comes, you’re able to successfully apply for a mortgage, get a student loan, or finance that small business you’ve always dreamed of opening. Granted, it’s a long road,...

Debt and the Brain: Studies Show Harmful Effects

“It’s such a wonderful feeling to be in debt,” said no one. Ever. Owing someone weighs heavy. Just ask anyone who’s ever been beholden to someone! But more than just an icky feeling, there’s proof that being indebted to another can actually be bad for your health. Indeed, eliminating debt might have much more far-reaching implications than simply boosting your bank account. Getting rid of IOUs can ease anxiety...

Can You Go 30 Days Without Spending? Could Be Easier Than You Think

Spending money is a habit. It’s a self-imposed behavior that you grew into. This means, like any habit, you have the power to change it. It starts with awareness. Evaluating your habits will help you determine what you repeatedly spend. Start by thinking through your typical day: What are all the things you buy? Have you ever stopped to consider every little daily expense? The exercise of tracking your...

Surprise! 9 Secrets Your Credit Card Is Hiding

Maybe you’ve had your credit card since 1975. Or maybe you’ve just waded into the credit waters this year. Either way, you might be surprised to learn a thing or two that creditors don’t clearly disclose. This isn’t to say your credit card company is deceptive or intentionally shielding some awful truth. It could be that they assume all cardholders already understand all the fine print. Technology continues to...

9 Times You Shouldn’t Use Your Credit Card

“Handle with care.” Every credit card should come with this warning. Those small, seemingly innocent pieces of plastic can get you into a world of financial trouble if you don’t make wise choices about when and how often to use them. Sadly, however, too many of us treat credit cards as tools to buy items that are out of our reach financially or even everyday items that would be...

Debt Repayment: Which To Pay First?

Debt is no walk in the park. At times, it can seem more like an uphill battle. This is especially true when you’re dealing with multiple credit cards with large balances. Which one do you focus on first? Do you put all of your extra cash into one card, or spread it around evenly? Is there a “correct” order to debt repayment? More importantly, how do you keep your...

Freelancing and Finances: Seven Tips For Managing an Unpredictable Income

Freelancing is great: You get to set your own hours and be your own boss. You’re not chained to a desk from nine to five. No morning commute. No coworker drama. If you’re an independent type who likes to do your own thing, a freelancing or contract gig is probably as close to perfect as you can get. Of course, freelancing or contract work also means that you forego...

A Beginner’s Guide to Credit Cards: 10 Tips for Responsible Use

A lot of folks feel conflicted about credit cards, and with good reason. On one hand, if you use credit cards responsibly, they can open a lot of doors. For example, if you have a solid credit history and a high credit score, it will be easier to do things like buy a car or apply for a mortgage. You can avoid big hassles when renting an apartment or...