How To Avoid a Payday Loan

Payday loans have become a popular financial option for many people during the current financial downturn. They are advertised heavily and often help people who have few options when they find themselves in a financial bind. However, they are not necessarily the best option for financial emergencies. Here are a few tips for avoiding a payday loan. Tip #1 – Start a Savings Account Payday loans are often used by people during financial emergencies. They may find themselves stranded from work if their car breaks down, or they may have to pay for emergency repairs to their furnace if it breaks down during the middle of the … [Read more...]

What to Look for in an Auto Loan

Buying a new car can be an exciting and exhilarating experience. There are few things finer than holding the keys to your new car for the first time and listening to the roar of the engine as you start up. Unfortunately, this experience can be dampened by the need of acquiring funding for the purchase of your new vehicle and the seemingly endless array of hoops you feel you have to jump through. But that doesn't have to be the case. Today we are going to give you the information you need to help you understand what to look for in an auto loan. 1. Do Your Budget Homework Before you begin searching for an auto loan it is … [Read more...]

7 Tips to Improve Your Credit Score

People are having more problems than ever with their credit scores not just because of the economy – though that has a lion’s share portion in the blame for the trouble – but also because of past debt and difficulties with repayment. Having a bad credit score is frustrating, even frightening at times. There are many quick fixes being advertised now, but what they don’t tell you is that these are extremely likely to backfire and make bad credit even worse. Improving your credit score takes a bit of time, but it is possible with a few things that should be kept in mind. Watch Your Credit Report Repairing your credit score … [Read more...]

Should Personal Finance Be Taught At School?

Not all that long ago, if a young person wanted spending money, he would find a paper route or a part time job and earn the spending money he desired. His parents were working hard to support the family, and extra money was not available for his wants. He would learn to manage his money by making poor choices that were not all that costly. His money management habits were developed with his own money while he lived in the confines of his parents home. In the twenty-first century, parents provide substantial sums of money to their teens because jobs are scarce, and the students have academic and extracurricular activities … [Read more...]

How to Finish Paying Your Mortgage Years Early

Paying off your mortgage early gives you a huge psychological boost because you own your home free and clear as well as saving you thousands of dollars in interest payments. Most people don’t think they have enough extra cash to make larger mortgage payments each month. There are several ways around this, but the most important thing to know is that every little bit helps. Most mortgages allow for repayment of the principal balance early without any penalty fees, but it is always best to check if they have any penalties for paying off a mortgage early. Pay Towards the Principal Along with making regular mortgage payments … [Read more...]

Getting To Grips With Your Credit Card

Are you ready to come to grips with your credit card? It is not as hard as it might appear. By taking some simple steps and being both patient and proactive, you can get a handle on your credit card debt. Once you do, you will be able to live a life of financial freedom. Pretty amazing, right? Know What You Owe Many folks have a vague idea as to how much they owe on their various credit cards, but that’s it. In addition, numerous people underestimate what they owe. There are two reasons this usually happens. 1. Not recording what they purchase. You probably think you will not forget what you have purchased. The truth is … [Read more...]