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What Happens After You Pay Off a Credit Card
There’s nothing quite like making your final credit card payment. After months – or maybe even years – of living with the stress and expense of high-interest credit card debt, getting to that zero balance is truly something to celebrate. Paying off credit card debt feels amazing. But not only that, it also frees you up to pursue other goals, make other plans, and do more with your hard-earned... -
What to Do After You Pay Down Your Debt
You did it. It took discipline and patience. You had to give up a lot of little “extras.” It wasn’t always easy. But you stayed the course, and you’ve finally done it: Your high-interest credit card debt is gone. So, how do you keep debt from coming back? Should you adopt a strict “cash-only” policy? Should you cut up all of your credit cards? Should you close all of... -
How a Financial Audit Can Help You Set Goals and Plan for the Future
When was the last time you did a serious audit on your finances? We’re not talking about income taxes. And we don’t mean simply reviewing your budget (although that’s definitely important). We mean taking a serious deep dive into every facet of your financial situation, from your monthly income and expenses to your short-term savings and retirement funds. A self-audit is a great way to assess your situation, identify... -
7 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... -
When You Need to Review Your Budget
Some people are really good at planning ahead; others… not so much. Regardless of which camp you find yourself, there are some life events that really should make you stop and take stock of your financial situation. If you have a budget, you’re already a step ahead! Budgeting helps you guide the spending and saving decisions that can keep you on track with your financial goals. But don’t let... -
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... -
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...