All posts by Michael Peterson

5 Simple Cuts to Curb Your Spending

Living paycheck-to-paycheck is all too common. In fact, recent data indicate that three-fourths of American workers with salaries of $50,000 or less rely on each paycheck to make ends meet. If you’re part of this (very large) group, chances are good that you’re also struggling with debt. To make a dent in your debt balance – or even pay it off for good – your best bet is to...

New to Credit Cards? Here’s What You Need to Know!

Did you just open your first credit card account? Congratulations! There’s a lot to know about savvy credit card use. Unfortunately, the best place to learn what you need to know so you can protect your financial future isn’t always your credit card company. Here are four important things that your lender might not tell you – but knowing them can spare you a world of financial hurt. 1....

Closing a Credit Card? What You Should Know

Are you considering closing a credit card? Whether you’re trying to curb your credit card spending, feel you have too many credit cards that you never use, keep an account open even though it doesn’t fit your lifestyle anymore, or another valid reason, there are some important things to consider before you make the move to close a credit card account for good. How Can Closing a Credit Card...

Need Debt Relief? Here Are Your Options

When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. But before you seek relief from a professional, you should understand your options. Some professionals will helpfully walk you through a debt management program or counsel you about the best way to handle your debt, but...

6 Credit Report Myths

We talk a lot about credit scores and credit reports. Why? They are very important when it comes to your personal finances. It’s just as important to understand what these numbers mean – confusion on your part can impede your ability to make savvy financial decisions. Unfortunately, there’s a wealth of misinformation when it comes to credit reports and credit scores. Let’s take a look at six common misconceptions...

What To Do if You Can’t Pay Your Mortgage

Paying bills is stressful enough, but if you come to the end of your checkbook balance and discover that you don’t have enough to cover your mortgage, that stress goes up exponentially. But before you panic, you should know that you have options. First, Make Contact With Your Loan Servicer Before deciding how to move forward, your first step is to contact your mortgage loan servicer. Because loans are...

10 Frugal Ideas Made Simple

What’s the best way to wipe out debt? Don’t spend more than you make. It’s a simple concept, but in today’s consumeristic society, it can take a lot of strategizing. Try some of these frugal living tips to make the most of the cash you have and avoid – or eliminate – debt. Tip 1. Buy in Bulk. Take stock of the nonperishable household items you buy frequently –...

I Just Got My First Credit Card… Now What?

So, you recently got your first credit card. Sure, you read the fine print before signing up, but you probably still have questions about how to successfully navigate this brave new world. And there are likely a few gray areas your lender didn’t fully disclose. Here, we’ll investigate just a few of the potential surprises, so you can avoid making financial missteps with your new credit card. The minimum...

Top 3 Benefits to Frugality

Okay, it’s time to get real: Statistics show that most of us are WAY overspending. We’re either not saving enough to maintain a sufficient emergency fund or – even worse – spending more than we earn. In fact, the average American household spends 90% of its income.  At the same time, wages across most sectors are pretty stagnant. Pay fell during the Great Recession of 2008, and most of...

Keeping Your Credit Card Info Updated

When you’re moving, there are lots of, well, moving pieces. It’s a hectic time, to be sure: You need to make sure your utilities are switched over, your locks are changed, your kids’ new school registrations are complete, and your plants are surviving in their new habitat. But one of the most important pieces in this puzzle is to maintain connection with your credit card issuers. This is very...