Joblessness is one of the most unwanted situations that you could ever find yourself in. Nevertheless, you should know that it’s not an uncommon experience. Understand the fact that simply because you’re jobless doesn't mean that you can’t handle your finances. It’s a rather different and unique experience when it comes to handling your finances when you’re unemployed. However, it’s not impossible to deal with your jobless situation if you take effective steps to manage … [Read more...]
Debt relief ads seemingly are everywhere these days, especially when you have a mounting pile of debt and you're paying attention to people talking about debt. These ads show up online and in the mail, and you may even receive phone calls offering debt relief services. The ads always say they can help you in one way or another, promising to erase all your debt or promising to get your creditors to settle for less than you owe. Be wary of them. Debt relief services are never as good as they … [Read more...]
Common sense tells us that it's cheaper to pay for items with cash than with credit cards and loans. But just how much cheaper is a cash method of payment? Here is some trivia to get you thinking... A $2,000 big screen TV will cost you nearly $7,000 if you charge it and then pay the minimum balance on your credit card each month. In addition, when you're done paying for your TV in 30 years, you will likely have purchased several new TVs since! If you go on a $4,000 … [Read more...]
With the current economic conditions, the housing market is wide open for qualified buyers. Interest rates are at their lowest in decades. Combine that with all the government-sponsored incentives, and the time to buy your first home is right now! Of course qualifying for that 30-year fixed rate mortgage will require your credit rating to be higher than what was acceptable just a couple of years ago. Did you know that your credit rating score depends on more than just the fact that you've been … [Read more...]
Do you think you can truly afford the home that you're currently living in? According to Suze Orman, chances are you cannot. On the Oprah show, Orman said thousands of Americans are living a lie and outliving their income, while using credit cards to support the facade. When a family that was $90,000 in credit debt and living on a $2,000 deficit insisted an apartment would cost as much as their home, she nearly lost it. Orman quickly detailed house-related expenses like a $500 … [Read more...]
Experts tell us that the best way to stay out of financial trouble is to live within our means. Right? Unfortunately, the phrase “living within your means” can be difficult to understand. For example, there's "living within your means"... and then there's "living below your means." So, are you living within your means or below your means? Living within your means is defined by CNN Money as... ...Spending less than you earn, saving some of your income and … [Read more...]
Does holiday debt have you experiencing panic attacks? It's unfortunate, but this type of debt has a lot of staying power. It also has the ability to force you even deeper into debt if you don't get a handle on it right away. If your New Years resolution is to pay off your holiday debt as quickly as possible, then you are in the right place! I've taken the time to assemble for you what I think are some of the best tips for eliminating holiday debt in a fast fashion. … [Read more...]
There's no time like the present to conduct a review of your personal finances. The question you should be asking is: Would you be ready if you had a sudden financial emergency? Does the thought of not having enough money to covers your bills scare you? If so, then you should do these things now in order to prevent a financial disaster around the corner... … [Read more...]
Have you been thinking about filing for bankruptcy? Sometimes the cost of bankruptcy alone will be a deterrent, but sometimes it is something more. There are myths that have become associated with filing for bankruptcy over the years. Unfortunately, they are just that, myths. Check out these 5 common bankruptcy myths, and educate yourself before you take the next step toward filing for bankruptcy. The 2 that were most eye-opening to me: … [Read more...]
Of course, the best way to keep track of your money is to know where all of it is at any one time.One of the easiest ways to do that is to use a handy dandy program, application, or template that makes managing your money FUN! Here are a few examples:Ace Money LiteiBank for MacDave Ramsey Allocated Spending SpreadsheetGoogle Docs Budget TemplatesDaily Finance iPhone ApplicationMint.com iPhone ApplicationThat's just a sampler! There are lots more on this great big list of 75 budgeting … [Read more...]
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