Personal Finance Advice

For anyone trying to get out of debt, the debt snowball method has become the choice of many to tackle their debt. This shouldn’t be a surprise as it is a straightforward and easy to follow method that works. While the basics are the same, there are a variety of different debt snowball approaches that [...]

I do have a credit card and I use it for a lot of my travel expenses because it provides me with a lot of advantages. I also use cash a lot just because I developed the habit when I lived in Japan and almost all transactions there were done in cash. There are still [...]

You know your credit is an important part of your financial life. Indeed, a number of people, from bankers to insurers to landlords, use your credit score to determine your financial fate. From higher interest rates and insurance premiums to paying a higher security deposit for a rental, a poor credit score can cost you. [...]

Have you noticed that lately new bank fees and fee increases have been popping up like pimples on prom night? Much of this is because of new federal regulations limiting revenue major financial institutions take in from things like overdraft fees and, more importantly, debit card swipe fees. Also known as interchange fees — this [...]

New legislation that took effect on October 1st means that banks can no longer collect exorbitant fees from merchants whenever you swipe your debit card. What does this mean for you? Your bank will now likely switch to collecting those fees from you, the customer. Several banks, including Bank of America, SunTrust, Chase, and Wells [...]

Financial responsibility is a crucial part of the college experience, yet some personal finance skills remain foreign to students as they prepare for college. Parents have the task of preparing their children for a new financial world and they can do that by discussing the pitfalls that come with being on their own. Do you [...]

One of the hardest things for many people to see in relation to their finances is how their actions today are robbing them of future wealth. It’s easy to focus on today and think that if you can make the payments on that living room set that it’s okay. It’s easy to think that borrowing [...]

I received a call from my TV provider the other day. After giving me a pep talk about what a great customer I am, the representative explained that I was about to receive, “A very special offer. Something that we’re only offering to one percent of our clients!” Being polite, I didn’t hang up on [...]

As more kids get on the Internet at younger ages, I’m hearing about more and more on-line money accidents. These “accidents” occur when kids play paid online games or games that let players buy items in the game, when they download music or eBooks from shopping sites, or when they bid on items on eBay. [...]

The question of whether to write “See ID” on your credit cards instead of signing them comes up a lot in financial circles. The idea is that, by writing, “See ID” on your card instead of signing it, you are encouraging retailers to check your ID to make sure your card isn’t being used fraudulently. [...]

This is a series of posts about what you will find in Dave Ramsey’s Financial Peace University course. This is week four (week one — week two and week three) This week’s lesson focused on getting out of debt. We’re getting to the meat of the plan now, and I was eager to hear Dave’s [...]

Many people want to be out of debt. They talk about it and they may even take steps toward the goal. They may make up their minds that they will never have debt (again) and that may become their mantra. They may have the best can-do attitude out there. Yet they may still fail. Why? [...]

“More than 20 percent of adults read at or below a fifth-grade level – far below the level needed to earn a living wage.” – National Institute for Literacy “Nearly half of America’s adults are poor readers, or ‘functionally illiterate.’ They can’t carry out simple tasks like balancing check books, reading drug labels or writing [...]

The other day I was feeling punished for my good financial habits. My savings are earning pitiful interest, thanks to the low rates in place to prop up the economy. There are no mortgage or housing breaks for me, since I don’t carry a mortgage. My credit cards have had their limits cut and interest [...]

Several financial experts (most notably Dave Ramsey) preach that, if you want to become and remain debt free, you must not use credit cards. Ever. Their reasoning is that, a) it is too easy to get into the debt trap when using cards and, b) that you spend more money (around 25% more) when you [...]

When I was in the 6th grade, Mrs. Nygren (my teacher, may she rest in peace) used to admonish the class that no one should ever buy anything on credit except for a house. She was adamant. If we could not pay with cash, we should not buy what we wanted to buy. Cars, boats [...]

The other day I stumbled across an advertisement for Bank of America’s new Brighter Planet credit card. The idea behind the card is that every dollar you spend earns points which are then converted to purchase carbon offsets. Bank of America is not the first credit card company to try to convince us that we [...]

We are under constant media barrage about checking our credit report and we all know it’s important to have a high credit score. With the new legislation, it’s possible that a great credit score will be more important than ever. But does the average Joe really understand what goes into the calculating of a credit [...]

It’s become quite fashionable to attack credit card companies or banks who hold our mortgages, especially with the recent turmoil in the financial market. While talk of increased regulation and pointing the finger of blame may each have their place in how we deal with such situations, both psychologically and fiscally, they can quickly overwhelm [...]

There is so much involved when you are getting a divorce. The emotional shock seems to outweigh all else. You certainly don’t want to think about financial matters. But you must. Many unscrupulous lawyers make their monies on quick and dirty divorces. They don’t tell you everything that you need to know. The following story [...]