4 Things You Can Do To Learn How To Get Your Finances in Order
Are you familiar with financial phrases like credit score, retirement savings, debt retirement, or account balances? If so, that’s great, you’re well on your way to learn how to get your finances in order.
If these phrases tend to cause a bit of anxiety, you’re not alone. About 75 % of the current millennial generation feel as you do, according to the National Endowment for Financial Education. This organization was founded in 1972 and is a non-profit 501 (c) (3) foundation with its primary purpose being to help Americans improve the quality of their lives by educating them with basic programs that teach one to make sound financial decisions.
Do You Know How to Get Rid of Debt? – 10 Helpful Tips
Do you know anyone who is living a debt free life? Do you want to live without the stress of meeting loan obligations every month? Read on and see how to get rid of debt once and for all.
Debt-free individuals usually share the following ten similar characteristics that enables them to live below their means. There’s nothing here that is so highly technical that prevents anyone else from copying.
Start paying attention to details – As an example, if you don’t review your monthly credit card statement closely, there may be charges on there that shouldn’t be. Debt free individuals monitor their personal finances very carefully.
Are your debts causing stress and you want a normal life? Do you struggle every month just trying to make the minimum payments on your credit cards? Do you really want to achieve debt free living?
It’s so easy in today’s life style to get caught up in the “charge it” philosophy. You see your friends and acquaintances driving that new car or buying a very large house with new furniture. You think to yourself, if they can do it, so can I. What you don’t see is your friend’s , large mortgage, car loan, and several maxed out credit cards used to furnish that new house.
The average American is used to living with debt. Credit cards are used to buy things we don’t need, car loans for seven years because we like a luxury vehicle. Larger homes than View full post…
There are a few programs available, such as the Federal Housing Authority (FHA) and the Home Affordable Refinance Program (HARP) that have options for individuals with bad credit. These programs are not based on your credit score, and they don’t even require a credit check. Yes, you can refinance with bad credit.
Another organization, the U.S Department of Veterans Affairs (VA), offers mortgage refinancing to individuals who have bad credit. These are done through various lenders who determine their own requirements, and will vary by the lender.
Some of the statistics from August 2017 bear this out. Ellie Mae View full post…
Posted: October 20, 2017 Under: Mortgages By: Gust Lenglet
Do You Know How To Protect Yourself From Identity Theft?
Do you allow online vendors to store your credit or debit card information on their website? Do you use an app where you store your credit or debit card information? Do you know how to protect yourself from identity theft?
In today’s fast paced society, many Americans do just that so that they can make purchases more quickly. Actually, almost 100 million of our citizens are doing that.
Is it wise or safe to do that just to make a purchase one minute faster? Obviously, many will say yes, until the day that particular vendor has their website hacked. Then, when a hacker starts making purchases on that site with your credit card, your opinion will probably change.
Each of us has our own pre-conceived ideas as to how money plays a part in our daily lives. Because of those ideas, it’s no wonder money myths are so prevalent. What’s more, this hype perpetuates not only from friends and acquaintances, but financial professionals as well.
Some of these sayings remind me of the saying “old wives tales”, and indeed, they may be. This first one is a good example.
Never payoff your credit card balance in full because it will affect your credit score in a negative way.
Wrong – Keeping an outstanding balance on a credit card will not improve your credit score. View full post…
Posted: December 5, 2015 Under: Credit Cards By: Gust Lenglet
These strategies will show you how to pay off debt, and are not unique – you may have heard them before. However, if you feel like you’re drowning in debt and don’t know what to do about it, you’re not alone. The average couple in the USA is faced with $15,000.00 in credit card debt alone in a 2014 analysis and it is climbing.
Some folks say there are some easy ways to learn how to pay off debt, but we both know, it is not easy. If it were, nobody would have open credit card debt. View full post…
My grandparents taught me something when I was young; paying for everything with cash keeps you out of debt. Their philosophy was that it’s too easy to get in over your head and mismanage money if you are using a piece of plastic. They called this debt the hazards of having a credit card.
It is very easy to overuse and misuse a credit card. Here are the following ways:
Having debt is never easy or fun. In your 20’s, studies show this age group seem to be able to manage their debt without too much stress and struggle. This all seems to change once people hit their mid-30’s.
There is almost a tipping point that defines the future in the years between 35-44. This age group appears to have the highest level of debt than any other age group according to the Census Bureau. This age carries 25% more debt than the next highest debt age grouping.
Coming in at more than $100,000 in debt, it is easy to see why the 30 something year olds feel like they are at a tipping point.
How to Teach Kids About Money – Get Ideas That Really Work
There comes a time when parents with children begin to read books and decide how to teach kids about money. This is not just one simple conversation that you have with your child, but is an ongoing process.
There is no one “book” to teach from and there is no universal method that will fit every child. You’re dealing with different personalities, comprehension levels, as well as the ability to learn.
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