Posts Tagged ‘Credit Card Debt’

Are You Aware of the Most Common Credit Threats?

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The Associated Press reports a new finding by FICO, Inc. that 25.5 percent of consumers, or nearly 43.4 million people, currently have a credit score of 599 or less. With a quarter of the nation suffering from credit card debt and poor credit scores, it’s obvious that many are not aware of the number of factors that can lower their credit scores. Photo by The Truth About via Flickr You can probably list several things you know can contribute to decreasing your credit score, but it’s unlikely you can name them all. In fact, a list of different things that… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - July 27, 2010 at 3:20 am

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6 Things to Negotiate When Buying a House

Even though there are some scattered signs that the housing market is picking up, in most areas, it is still very much a buyer’s market. That means that you have some pull when it comes to buying a house. So, if you have low credit card debt, a good credit score, a decent down payment, and a stable job, now is a good time to go house hunting. You’ll get a better interest rate, and you will be able to negotiate with the seller to help you save a little more money. Photo by MichiganMoves via Flickr Here are 6… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - April 27, 2010 at 5:20 pm

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The Amazing Power of Compound Interest

One of the most constructive, and destructive, forces in finances is the power of compound interest. Compound interest is interest that is not only paid on the principal, but also on the interest that previously accrued on your investment. On the other hand, compound interest can work against you — for instance, as finance charges against your credit card debt that could quickly snowball out of control. It can be a great burden, or a great boon. It all depends on the money choices you make. Photo by thievingjoker via Flickr Making Compound Interest Work for You Compound interest can… Read the whole article...

Be the first to comment - What do you think?  Posted by Robert Wilkinson - April 16, 2010 at 7:20 am

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Best Places to Purchase Textbooks for Students

As a college student, we all know how expensive it is to buy just about anything in our daily lives.  From our daily meals, to our clothing, how the heck are we supposed to afford all of this?  With student loan and credit card debt reaching an all time high per student, I wanted to give you college students some pointers that you can use, in order to save on your textbooks.  Honestly, you can use this strategy on just about any purchase. Photo by Here In Van Nuys via Flickr Get your ISBN / Textbook title Since you want… Read the whole article...

Be the first to comment - What do you think?  Posted by Robert Wilkinson - March 16, 2010 at 2:20 am

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Other People’s Priorities Don’t Have to Be Your Priorities

Kelly writes in: In the past three months, I’ve paid off all but $2,000 of my credit card debt. I feel happier about my money than I have in a long time. The only problem is that my social life seems to be falling apart. I don’t have as much interest in the things my friends are spending their money and time on and I find myself doing other things a lot. What do you suggest? Bear with me for a second as I go down a bit of a strange road. I’ll admit it. I’m not a good housekeeper,… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - March 14, 2010 at 12:20 am

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Getting Out of Debt Quickly pt 2

This is part 2 of a 4 part series on getting out of debt quickly. Make sure that you read all four parts in order to get the most out of this sequence of hints on getting yourself or your family out of the debt trap. Next you are going to want to try to consolidate all of your debt onto a single credit card with an interest rate that is lower than what your current credit cards are requiring for you to pay. By doing this you are going to be lowering your monthly payments dramatically while paying… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - March 2, 2010 at 2:20 am

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Seven Rational Things to Do When Financial Panic Hits

I originally included this email in the reader mailbag this morning, but my answer to Susan’s email (below) went on so long that I thought it warranted a post of its own. Yesterday my husband found out he has lost his job. We don’t know what to do. He was making $38,000 a year as an IT specialist. I make about $36,000 a year as a school teacher. We have about $10,000 in credit card debt spread across three cards and a $1,300 a month mortgage payment. We don’t have anything saved either other than some retirement account money. I… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - February 19, 2010 at 6:20 am

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Pay Off Debt or Invest? Think About Your Rate of Return

Andrew writes in: My girlfriend and I bought a home last year and qualify for the First Time Homebuyer Credit. When you include my share of this, I will be getting back around $4500 in my tax refund. This is a lot of money to me and I’m trying to decide what to do with it. About half will go toward an engagement ring, but I’m torn between investing the other half or paying off my $2,000 in credit card debt. I currently have a very low APR on the credit card and can pay more than the minimum each… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - February 5, 2010 at 4:20 am

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