Did you know that a third of all Americans who are making over $70,000 a year are living paycheck to paycheck? The average American is almost $40,000 in debt – with the average credit card debt at about $7,000 a…
Here Are Some Tips To Help You Stop Destroying Your Credit Score
It’s hard to get through life without lines of credit. Whether you own a business or need it for personal purchases, having a credit card can make life convenient. What’s important to keep in mind is that protecting your credit…
Don’t Cosign a Loan Ever. Here’s Why
No good deed ever goes unpunished. Whoever coined that phrase may have once made the bad decision to cosign a loan. If you cosign a loan, you assume full responsibility to pay it off if the borrower can’t pay. The…
The Bank Deposit and Lending System – What You Need To Know
Did you know that most of the money in the world isn’t intangible? Only a minuscule fraction of money that is actually tangible exists in the world. By tangible, I mean money you can feel and touch. If everyone in…
Fiat Currency Definition and Your Guide to the Money System
Do you know what the money in your pocket is called? Yes, we call it, “money,” but that is not its official terminology. The money that you, I, and everyone else use is, “fiat currency.” Fiat currencies comprise the global…
You Probably Missed the Boat on Cryptocurrency Investing
Everyone is talking about cryptocurrencies. The intense pop culture hype surrounding cryptocurrencies reached their peak in late 2017. It seemed like everyone wanted to know exactly what the cryptocurrency market was about and how to cash in. Still, logic dictates…
How to Overcome Your Fear of Investing
A lot of people know that there’s money to be made on the stock market. However, if you’re uncomfortable about the idea of “jumping straight in” with trading, then you’re not alone. The truth is that the stock market is…
Why You Should Consider Investing In Frontier Markets
Investment portfolio diversification is the best way to increase your chances of maximizing potential returns, as well as lowering risk. Consider: do you only invest in the same kinds of companies, businesses, or products? If there is a market correction…
How To Plan For a Working Semi-Retirement
Whether you are young or older, you may have to consider working in a semi-retired status before retiring. As is the case with most things related to retirement, its best to plan ahead. Just as you should plan for retirement,…
Make Your Savings Last By Planning Your Retirement Right
Many people plan on enjoying the serenity of retirement after a lifetime of hard work. However, retirement expectations may come up short, or clash with reality, because of misinformed perceptions. The retirement years are the “advanced age,” chapters in the…
How Canceling Old and Unused Credit Cards Can Hurt You
A lot of people carry around more credit cards than they need or use. One might think that canceling or closing the old and unused credit cards would be the most financially responsible thing you can do. Well, not necessarily.…
Prom Season 2019: Save Money Without Compromising on Style
While prom may be the most anticipated night of a teen’s life, it really doesn’t have to be one to break the bank. It’s easy to let the spending get out of control so you need to prepare yourself to…
Free Credit Freezes and Other Legal Changes You Should Know
Although big banks stole most of the spotlight in the Economic Growth, Regulatory Relief, and Consumer Protection Act, the new law includes improved fraud alerts and credit freezes for consumers. The law President Trump signed late last week had attempted…
Why 20% of Baby Boomers Are Retiring With Massive Mortgage Debt?
Baby Boomers, the golden generation born between 1946 – 1964, is in big trouble. Regardless of how hard they worked through their lives, at least 20 percent of them will not be able to enjoy their retirement. Several studies have…
Higher Credit Scores Needed For Home Purchases
Average Homebuyer Score Rose from 700 in 2005 to 732 in 2016 Welcome to the 2018 home-buying market: Rising demand and an extremely tight supply of homes, especially in the critical starter-home market, make it difficult to realize your goal…
How Has the Consumer Financial Protection Bureau Changed Under Trump?
President Trump promised changes in Washington upon his election. Whether you are a Trump fan or foe, there’s no question he’s succeeded in that goal. Sometimes the change is precipitated by the President’s choice to lead an agency, as in…
Creating a Plan to Pay Off Your Debt
Make 2018 the year you get serious about your debt. The longer you put off this problem, the more it will grow. Don’t let compound interest overwhelm you. Follow these simple steps to make a plan and pay off your…
How Do Credit Bureaus Differ?
Do you know your credit score? More importantly, do you know where your credit score comes from and why it’s so important to your financial health to understand your credit score. So, how do credit bureaus differ? Credit scores are…