Finances

Guidelines for Spending on Your Mortgage

So, you’ve decided to take the leap and buy a home. Congratulations! But have you given some thought to what kind of mortgage you can afford? Think about the price of the home as well as the monthly payment you’ll pay to own that home. Banks take your ability to pay the monthly payment into consideration when deciding whether or not to grant you a loan. If you use...

Pros and Cons of Paperless Statements

In today’s virtual-reliant world, much of our day-to-day business takes place in Cyberspace. But banking and financial transactions might still make you leery. Whether it’s your monthly credit card or mortgage bill, your regular bank account statement, your quarterly 401(k) update, or another financially sensitive document, some of us prefer the piece of paper delivered to our mailbox. Let’s face it: There are some negatives to a paperless system....

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...

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...

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...

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...

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...

55 Great Financial Tips

We’ve built a career on helping people with debt, credit, saving, and budgeting. We’ve worked with people at all stages of their lives, from newly independent college grads to retirees. We’ve helped people improve their credit scores and pay down high-interest credit card debt. And if there’s one thing we’ve learned over the years, it’s this: While every financial situation is unique, there are some pieces of financial advice...

Just Say No: Four Reasons to Avoid Credit Card Cash Advances

If you’re in a tight financial spot, a credit card cash advance can seem like an easy way out: This quick, short term loan can give you access to anywhere from a few hundred to a few thousand dollars. But that cash comes with some major strings attached — deal-breakers that can hurt your credit, drain your bank account, and leave you financially worse off than you were before....

How to Spot Identity Theft

In today’s world of e-commerce, digital payments and stored passwords, identity theft is an ugly, sometimes life-altering reality. Data breaches threaten to leak our most personal financial information and sophisticated skimmers and hackers are hard at work trying to break into our credit cards, bank accounts, and more. Luckily, there are several tell-tale signs that your identity might have been stolen if you take the time to pay attention....