Beginning July 1, new federal student loans will carry an interest rate of 6.8%, twice the 3.4% rate on loans issued last year. Given that student loans cannot be discharged in bankruptcy, the rate should be close to zero, as the lender has very little risk. But no one is listening to me! Student … [Read more...] about 10 ways to wipe out your student loan debt
Money
What you need to know before buying a home
With interest rates still at an all-time low, many first-time homebuyers are looking to make the leap into home ownership. Choosing a home is the easy part of the process – you’ll also need to deal with contract offers, inspection, securing a mortgage and insurance, and the closing, all of which … [Read more...] about What you need to know before buying a home
5 steps to start saving with an IRA
A key savings goal for many people is retirement. To make it easier to reach that goal, the U.S. tax code offers a lot of advantages for saving through an Individual Retirement Account, sometimes called an Individual Retirement Arrangement, but most commonly known as an IRA. The bad news is that … [Read more...] about 5 steps to start saving with an IRA
5 surprising things hurting your credit score
Several factors come into play when calculating your credit score. According to FICO.com, your credit score is affected by five major elements, in this order of importance: payment history, amounts owed, length of credit history, new credit and types of credit used. That said, here are some … [Read more...] about 5 surprising things hurting your credit score
How to earn money during a staycation
This post is by Karen Cordaway of Money Saving Enthusiast. If you’re cutting back on discretionary spending, a much-needed vacation may seem like a luxury. But raveling to a beach paradise doesn’t have to be your only vacation option. This year, make your own local tour and plan leisure … [Read more...] about How to earn money during a staycation
Where’s the best place to save your money?
You're "saving" money, but what does that mean? If your frugal living is a means to generating money for retirement, a college fund or a down payment, you need to figure out how to get those savings out of your wallet and into some sort of account. It's a strangely mechanical problem, isn't … [Read more...] about Where’s the best place to save your money?
5 important fundamentals to understand about mortgage points
Even before you begin shopping for a home, you will probably find yourself shopping for a mortgage. You know to compare interest rates and terms, but may not know it can be just as important to inquire about mortgage loan points. Mortgage points are a fee you as the borrower may be required — or … [Read more...] about 5 important fundamentals to understand about mortgage points
Are your vices costing you a bundle?
This post is by Julie Ewald. Did you know that the average American spends $500 on fast food each year? The average lottery payout is 61 cents on the dollar. A full 48% of us drink a soda every single day. We know our vices aren’t good for us and we know they cost us a lot more than money. That’s … [Read more...] about Are your vices costing you a bundle?
Prom savings tips from a money-savvy teen
If you have a son or daughter in high school, then you know prom season is upon us. I have two daughters going to prom this year, and they have already started prepping. As soon as they each bought dresses, they posted pictures in the Facebook group that the girls in their school created so no … [Read more...] about Prom savings tips from a money-savvy teen
Jean Chatzky’s top tips for living on the cheap
Chances are you know financial expert Jean Chatzky from her regular Today Show appearances. Starting this month, she'd also like to be known as a teacher: Jean Chatzky's Money School, a series of online courses, will tackle everyday topics ranging from budgeting to a debt diet. Chatzky priced the … [Read more...] about Jean Chatzky’s top tips for living on the cheap
How to open a bank account for your kid
Banks can be fun, or at least one of those tolerable errands, when you're a child. There's all that money everywhere, of course. The nice people behind the counter tend to give you a lollipop. Sometimes you might find a welcoming plate of chocolate-chip cookies in the lobby. You might even score … [Read more...] about How to open a bank account for your kid
3 ways to find truly free checking accounts
A few years ago, a bigger bank took over the bank where my husband and I had kept our checking accounts for more than a decade. Suddenly our free checking had a fee. Not surprisingly we took this change — of ownership and fees — as a reason to find ourselves a new bank. At first, I thought it … [Read more...] about 3 ways to find truly free checking accounts
How to make money working from home
When day care costs overtake your take-home pay, it might be time to think about working from home. No commute means saving gas and wear and tear on your vehicle. You can work in your sweats, so no power suits will show up on your credit-card bill. No child care expenses results in a huge … [Read more...] about How to make money working from home
How to spot a work-at-home scam
By Jennifer Forest You've seen the advertisements: They are all over the Internet, often in newspapers and sometimes scrawled across a piece of paper and stuck to light posts in the city: ads with promises too good to be stuck to a power pole. Work from home Earn $1,000 a week Call … [Read more...] about How to spot a work-at-home scam
5 ways to have a less expensive funeral
It's human nature. Many of us, when we think about our own funeral, picture ourselves as not just the guest of honor, but the host. Even if we don't believe in the afterlife, some of us want to be at our own funeral in spirit. We want people to share funny stories and not be too sad (well, maybe … [Read more...] about 5 ways to have a less expensive funeral
