After years of being in debt, Rachel Kramer Bussel came to a realization: “If I don’t become proactive about it, I will be in debt for the rest of my life.” For Bussel, a freelance writer near Atlantic City, New Jersey, that meant scaling back spending and putting any available money toward the debt principal….
Parents, Know Your Legal Responsibilities on Your Kids’ Credit Card Debt
January 15, 2023
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By Steve Rosen From Tribune Content Agency Your teen had a great time using his credit card on holiday shopping sprees, so much so that he spent to the max and now can’t pay the tab that is due. This is a reality check right to the wallet for mom and dad. That’s because the…
Save Money With a Mortgage Rate Buydown
January 13, 2023
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A mortgage is usually the most significant monthly expenditure that people have. The 28 percent rule is that a mortgage makes up about 28 percent of a monthly income. That makes keeping that monthly payment down a priority. There is a way to temporarily lower a monthly mortgage. A mortgage rate buydown can help. But…
Millennial Money: 5 Tactics to Pay Buy Now, Pay Later Debt
Chances are that your “buy now, pay later” bill from the holiday season will arrive soon or has already made its debut. If you’re not financially prepared to pay up, late fees or other charges can bury you deeper in debt. Circumstances can change over a matter of weeks through financial setbacks like unemployment, an…
Family Finances: Paying Down Your Credit Card Debt Is a Good New Year’s Resolution
By Sandra Block From Kiplinger’s Personal Finance Carrying a balance has always been costly, but it’s particularly expensive now. The average credit card interest rate in mid-December was 19.42 percent, the highest rate since 1992. As the Federal Reserve Board continues to raise short-term interest rates to throttle inflation, average rates could rise even higher,…
Answers to Your Questions on Credit Unions, Banks and Deadbeat Parents
Credit Unions Versus Banks Dear Mary: What is the difference between a bank and a credit union? —Justina Dear Justina: Great question! A bank is a for-profit financial business run by paid board members that’s primary purpose is to make profits for the shareholders. A credit union is a nonprofit financial business that’s owned by…
Family Finances: Starting the New Year Without Guilt
By Emma Patch From Kiplinger’s Personal Finance Scarlett Cochran, author of “It’s Not About the Money: A Proven Path to Building Wealth and Living the Rich Life You Deserve,” offers sage financial advice. Question: If it’s not all about the money, then what’s it all about? Answer: Money evolved as a tool to help us…
Should You Choose a Zero Percent APR Loan on a New Vehicle?
January 6, 2023
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Borrowing money for nothing sounds like a good deal. Zero percent financing on a new vehicle allows you to borrow money without paying interest or bank fees. But is this a good deal, or is there a catch? What are the advantages and disadvantages? Zero Percent APR Car Loan Usually, when you take out a…
Money Mistakes Many People Make Before Refinancing Their Home
January 5, 2023
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Just as deciding when to take advantage of 4th and goal, refinancing a home has many opportunities and pitfalls. The reason you might consider a refinance is that you want to pay less interest. Or, if you need to put some money towards another expense, you can take some money out of your house. It’s…
How to Change Your Money Mindset in 2023, According to This Couple Who Paid Off More Than $100,000 in Debt
January 3, 2023
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By Amanda Breen It was 2017, the year before they got married, when Ali and Josh Lupo took a serious look at their finances—and realized they owed more than $100,000 in student loans. Despite working long, hard hours in human services, the couple was still living paycheck-to-paycheck, unsure how they’d afford a wedding or pay…
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