Instead of buying at the moment desire strikes, start putting money away; don't even think about buying it until you have the money for it.
Do you know what the real foundation of investing is? It has nothing to do with stocks, bonds or mutual funds. It has everything to do with emergency funds.
How much time will your car, your mortgage, and retirement saving cost you?
While new credit only accounts for 10% of your FICO score, it really can't be ignored. If you're young and don't have a lengthy history, opening up a new account can hurt your score as too much credit is generally considered risky. If you have what might be construed as too many accounts, then the thought is that it's too much to keep up with, especially all those different payment dates.
More than ever, with new banking regulations, banks want to pitch their products to college students. It seems that a college student's account has a major impact on the bank's earnings.
Before stepping onto campus for the first time, there are three things every Freshman should know about finances. It's important to get aquainted with a these three financial instruments; they'll not only be important throughout college, but the rest of your life. They'll serve you well if you serve them well, but before you can begin to serve them well, you must understand them.
Although the length of your credit history only weighs in at 15% of your score, it is still vitally important. Don't confuse this with your payment history; your payment history is the quality part, while your payment length is the quantity part.
Today, more than ever, consumers are using debit cards; as a matter of fact, they are swiftly becoming the payment of choice over checks (so 1900's), cash, or credit cards. They have the advantages of credit cards as you don't have to write checks all over town (increasing your exposure to identity theft) or carry a ton of cash. They also have the advantage over credit cards in that they won't put you into debt, unless, you overdraw your checking account and incur overdraft fees.
College tuition is increasing at a rate double that of general inflation. In 2010 the annual tuition for a public four-year college was $16,000, which was up 6.1% from 2009. The cost of a private four-year college was up 4.3% from 2009 to 2010, coming in at a staggering $37,000.
Access to student loans has been the path, and the only path, to higher education for many students, escpecially those who want to attend prestigious private universities. In 2008, 60% of college students carried some form of student loan and low-interest student loans from the federal government have been a huge source for funding; however, with the upcoming deficit reduction, this could be an area that is cut.
As we mentioned in a previous post, the Federal Reserve prohibited banks from automatically enrolling customers in overdraft protection which took effect in August, 2010. Despite this, for those who do opt-in to the program, there's no limit to the amount of the fee and number of fees PER DAY can vary from bank to bank. According to the Consumer Federation of America, some banks have tacked on additional fees.
Yeah, I know, ANYTHING quick and easy can't be all that good. No matter how good or bad your credit score, you need to be following these simple strategies.
Identity theft is life-changing; you are no longer yourself when it comes to your credit because someone has taken over your "credit life." That doesn't mean they start paying your bills; oh no, they start charging food, clothes and gasoline to a credit card in YOUR NAME. The good credit you've built up over the years is destroyed and it could be years before you totally eradicate the ramifications.
Can you imagine how paralyzing it would be to open your credit card statement and find charges that you didn't make?
People who live in glass houses, shouldn't throw stones. Not only do most Americans criticize the government for escalating the federal deficit, but according to the most recent polls, they are in favor of increasing the ceiling. Most people understand how catastrophic it would be if the government didn't raise the ceiling.
I've often thought if criminals used their cunningness and channeled it to something positive, they could make a ton more money in the legitimate venture. Today, criminals will install surveillance equipment on ATM's in order to skim cutomers' information. You walk up to the ATM, insert your card, enter you PIN, and your banking information has been skimmed.
Last year over eight million Americans were victims of identity theft. It seems as though our wallets are recepticles for any small thing that'll fit. We literally carry our lives in our wallets; many of those things are important to the smooth functioning of our lives, and those are the kind that are financial in nature.
So, if you don't want to fall prey to an identity theif, take a look at your wallet.
Although there's still a lot of uncertainty in the housing market, the drop in home prices has made home ownership very alluring. However, you may think you don't qualify for a mortgage. It might not be as bad as you think.
Last holiday season spending on traditional gift cards reached a record $91 billion. Enter the new improved gift card: the DIGITAL card.
The market for digital cards has doubled in the last three years as more and more shoppers and those who love to bear gifts are taking notice.
Ah yes, that first time away from home at school. So much free time, so many things to discover, and so much freedom! All these really cool "activities" cost money, so you start spending it; and this is money you don't even have. But, wait! I can put these expenses on my new credit card; they were handing them out like candy, along with a free t-shirt next to the Student Union.