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• What It Means to Have Your Credit Limit Cut
  It used to be that you only had to worry about your credit limit being lowered (meaning you could borrow less) if you were chronically late on making your payments or if you simply stopped paying altogether for a period. It used to be that you only had to worry about your credit limit being lowe
• How Your Credit Score is Calculated
  There are different methods to determining a credit score. The “gold standard” of credit scores – the one that most lenders use when making credit-related decisions - is called the FICO score, named for its developer, the Fair Isaac Corporation (FICO). There are different metho
• Being Approved or Denied Credit
  Once you have applied for credit it may take your lender hours, days or even weeks to approve your request. You should keep the contact information for the person with whom you filed your application so you can call or email to check on the status of your request.. Once you have applied for
• Changing Your Thinking about Credit for Everyday Expenses
  If you are bridging financial gaps by using credit as a supplemental source of income it's important to remember that unlike income, credit is not simply an always-available source of free cash but rather a loan. Every time you use credit you are, in essence, taking on a loan and you will be require
• Repaying Credit
  When you use credit the lender will typically require that you repay the funds you borrow, and the interest due on the money you have borrowed, in regular installments over a set period of time. If you obtain a fixed amount of credit for a set amount of money for a specific purpose (i.e. to purchase
• Getting Credit
  In order to gain access to credit you will need to apply with an institution or organization that loans money such as a bank, credit union, savings and loan, or credit card company. You will most likely need to complete an application that will ask for two main categories of information: Personal in
• Credit Unions
  Perhaps you have heard of credit unions, but don’t know much about them. Credit unions are nonprofit cooperative financial institutions.. Perhaps you have heard of credit unions, but don’t know much about them. Credit unions are nonprofit cooperative financial institutions. Let’s break t
• Before You Apply for Credit
  It can be tempting to fill out applications for credit but before you apply there are some important questions you should consider and steps to take: Take some time to identify and write down your personal and financial life goals if you haven’t already. Credit is a financial tool that you should us
• One Thing You Don’t Want to Do
  Often when credit card holders receive a notice that their credit limit is being lowered they may automatically want to cancel the card, especially if they feel slighted by the credit card company because they have always paid their bills. Often when credit card holders receive a notice th
• Debt Consolidation and Debt Management Plans
  One of the services that credit counseling agencies provide is debt management plans, or DMPs. A DMP is a plan that a counseling agency develops with a client's creditors to help a client consolidate (pool together) and pay off their debt.. One of the services that credit counseling agencie
• How to Improve Your Credit Score
  Your credit score is not set in stone; it changes over time as you use, manage and maintain your credit. If you have recently learned that you have a low credit score, the good news is that there are things you can do to improve your score: Request and review your credit report on file with each of
• Two Options When Your Credit Limit is Cut
  If your credit limit has been cut (or you receive notification that your creditor is planning to reduce your limit) you have two options Contact the creditor to ask for your current limit to be maintained or reinstated. Collect copies. If your credit limit has been cut (or you receive
• I've gotten myself into a financial mess.
  Have a few late bills? Do you chronically miss credit card payments? Have you defaulted on a loan? Having a poor credit history can wreak havoc when trying to plan for your future. For example, you may end up being turned down for loans or you may be approved for a loan, but at a higher interest rat
• The Price You Pay for Using Credit
  The price you pay for being able to use credit is called interest. Lenders charge interest in order to make a profit and to help offset a loss if a borrower does not repay the money.. The price you pay for being able to use credit is called interest. Lenders charge interest in order
• Credit Issues
  More than likely both of you have used credit prior to this point in your relationship – that, for example you have: used a major credit card (VISA, MasterCard) used a department store credit card, taken out a car loan, or applied, and been approved for, a home loan (mortgage) a car loan or student
• Questions to Ask When Considering Joining a Credit Union
  If you find a credit union and determine that you are eligible for membership, consider asking some of the following questions when considering signing up to join and open an account: Does the credit union have automated teller machines (ATMs) If you use ATMs frequently you might want to find out wh
• Credit Card Companies Face Significant Changes Under New Law; Consumers to Benefit
  The new credit card legislation signed into law by President Obama contains numerous provisions that will have a real impact for Americans who use credit cards as a personal financial tool. More than 700 million credit cards are used by Americans (Nielson Report, 2008) and the total amount of debt A
• Getting a Credit Card for the First Time
  You probably get a credit card offer in the mail almost every day. Be careful before signing up.. You probably get a credit card offer in the mail almost every day. Be careful before signing up. You need to read the fine print carefully. Remember that what you're signing is a legally binding agree
• Making Work Pay Tax Credit Boosts Take-Home Pay for Workers, Provides $250 Benefit for Retirees
  The Obama Administration’s American Recovery and Reinvestment Act stimulus package includes a temporary two-year “Making Work Pay” tax credit. The credit will provide working individuals with a little more money in their paychecks in 2009 and 2010.. The Obama Administration’s American Recovery and R
• How to Think About Credit Cards
  The first thing to know is that credit cards aren’t “bad. It’s all about how you use them.. The first thing to know is that credit cards aren’t “bad. It’s all about how you use them. Here are a few things to think about before getting, or first using, a credit card. One of the most important
• Tax Changes that Could Affect Your 2008 Tax Bill
  There are a few new changes to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially if you’re preparing your own taxes.. es to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially i
• When Your Credit Limit Is Cut
  Credit can be a useful financial tool. An overwhelming majority of Americans – 78% or 91.1 million of all households – have credit cards, and the average consumer has 5 credit cards which they use as a financial cushion. Credit. Credit can be a useful financial tool. An overwhel
• Best Way to Use Credit
  Now before you think that you should never use credit cards, it’s actually a good idea to use them…IF you can use them wisely. Why? Well, establishing a good credit history makes it more likely that you’ll be approved for loans you might apply for later like a home mortgage or car loan..
• Finding and Joining a Credit Union
  To find a credit union that you may be able to join: See if your, or your spouse’s employer has a credit union Ask parents and any immediate or extended family members if they belong to a credit union, as some credit unions will allow family members to join Check with any associations or organizatio
• Tax Changes that Could Affect Your 2008 Federal Income Tax Bill
  There are a few new changes to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially if you’re preparing your own taxes.. There are a few new changes to the tax law that could affect your 2008 federal income tax bill. Thes
• Ready to Buy a Home
  Scenario: Malcolm and Gayle are a young couple living in Iowa. Both have full-time jobs earning a combined annual salary of 80,000.. Scenario: Malcolm and Gayle are a young couple living in Iowa. Both have full-time jobs earning a combined annual salary of 80,000. Their main monthl
• Credit Scores: What They Are, Why They Matter and How to Improve Yours
  Did you know that you have something called a credit score that employers, landlords and lenders can view and use to make a wide variety of decisions about you?  A credit score is a number – ranging between 300 and 850 - that represents your creditworthiness, or the perceived likelihood that you will
• Using Credit Cards to Make Ends Meet: The Risks of Viewing and Using Credit as an Essential Supplement to Income
  The average American has eight credit cards and as the price for daily essentials continues to climb, we are using credit not just for discretionary purchases (think movie tickets and dinner out) but for necessary living expenses (think gas and groceries) Since Americans have greater access to credi
• Digging Out of Debt
  THE SECRET to paying off credit-card debt is really very simple: All you need to do is earn more than you spend, and apply the savings toward paying down your debt. So then what makes tackling credit-card debt so hard ? Sadly, many seem to be losing the battle of the credit-card balance. Consider th
• Credit Reports
  A credit report is simply a record of your credit habits - it shows every time you apply for credit, every time someone makes an inquiry about your credit record, and how you manage your credit. For example, it records whether or not you pay your bills on time, if you maintain a balance or pay your
• Required Credit Counseling If You are Filing for Bankruptcy
  As part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act if you want to file for bankruptcy you will have to complete two credit counseling courses. The first course you will need to complete before you file your petition to claim bankruptcy.. As part of the 2005 Bankr
• Repair or Establish your Credit Record
  Divorce can be financially devastating. It often means having to meet regular expenses on half, or less than half, the income prior to the divorce, on top of new, extraordinary expenses related to the divorce such as lawyer’s fees and court costs.. Divorce can be financially devastating. It often m
• Debt Negotiation
  Debt negotiation is also commonly referred to as debt settlement. It is one approach to solving unsecured debt problems (typically credit card debt) that may be an option for people who may not be able to make the minimum payments of a debt management plan (DMP). Debt negotiation is also
• How Your Credit Score Can Be Used
  You may be surprised to know how many types of businesses can use your credit score, and what they may use your score for. Once a lender pulls a copy of your credit report and views, or calculates, your credit score, they will use that score to determine their risk in making you a loan or extending
• Subprime Loans
  "Subprime" loans carry a higher than average interest rate and typically charge more fees than traditional loans. You can get a subprime loan when applying, for example, for a home mortgage or a car loan.. Subprime" loans carry a higher than average interest rate and typically cha
• Getting Professional Help
  If you’re at a point where you are having credit card problems, facing staggering debt, are receiving overdue notices, or getting calls from collection agencies you may feel scared. If you’re overwhelmed, can’t figure out how you are going to get out of this, or just feel like you could use someone
• Who Extends Credit
  Various organizations, businesses and financial institutions extend credit. For example Department stores offer store credit Utility companies (phone, gas, electric, water) provide services on credit (meaning people receive/have the ability to use those services and are charged afterwards for their
• Money Deposited in Credit Union Accounts
  All federally chartered and most state-chartered credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF) which is a federal fund that is backed - like the FDIC - by the full faith and credit of the U.S.. All federally chartered and most state-chartered c
• What to Do If You Think You Are a Victim of Identity Theft
  The more quickly you notice and report that your identity has been stolen and misused, the less damage is likely to occur. If you think your identity has been stolen, following are immediate first steps to take: Contact your credit card companies, banks, utility companies, phone companies, etc. to r
• Money Deposited in Bank Accounts and Credit Union Accounts
  Up to 250,000 of money you deposit in an FDIC-insured individual bank account, up to 500,000 for joint accounts and up to 250,000 for individual retirement accounts (IRAs) are guaranteed safe by the federal government. If you have more than that amount in a particular bank, it is not guaranteed t
• How to decide if you really want to own a home
  It seems obvious but the first place to start is to decide whether or not you really want to own a home. No doubt, there are definite benefits to homeownership, including: Tax benefits.. It seems obvious but the first place to start is t
• Interest Rates and Credit Limits
  Two of the biggest tools credit card companies have at their disposal is being able to change their cardholders’ interest rate (the amount of money they charge you for borrowing money from them when you use the card) and credit. Two of the biggest tools credit card companies hav
• Spending
  In order to keep moving forward financially we need to spend less than we earn. That doesn’t mean going without.. In order to keep moving forward financially we need to spend less than we earn. That doesn’t mean going without. It means making spending choices based on a well-defin
• Paying for Child Care
  As you think through what type of child care you would like to secure, plan according to your finances. If you don’t already have one, start by . As you think through what type of child care you would like to secure, plan
• Paying for Child Care
  As you think through what type of child care you would like to secure, plan according to your family’s finances. If you don’t already have one, start by . As you think through what type of child care you w
• Minimum Payment Required on Credit Cards Going Up
  Credit card companies typically required customers to make a minimum payment of just 2 percent of their total card balance. That 2 percent only helped pay your interest and fees and didn’t help make a dent in the actual principal amount you owed.. Credit card companies typically required customers
• The Dangers of Accumulating a lot of Credit Card Debt
  Tania and Juan got married when they were 23. They always intended to be wise with their money but let their credit card spending get out of control quickly.. Tania and Juan got married when they were 23. They always intended to be wise with their money but let their credit card spen
• The Credit Basics
  Do you have a credit card? How about a home mortgage or student loan? Do you use services that you pay for on a monthly basis (i.e.. Do you have a credit card?  How about a home mortgage or student loan?  Do you use services that you pay for on a monthly basis (i.e. utilities) All of
• Tips for Using Credit Wisely
  Julia was a 19-year-old college sophomore when she got her first credit card application in the mail. The campus post office floor was littered with them.. Julia was a 19-year-old college sophomore when she got her first credit card application in the mail. The campus post office
• Restoring Financial Sanity
  The first step toward successfully paying off your holiday debt is taking it out of the emotional realm. Beating yourself up or throwing up your hands in surrender won’t solve the problem.. The first step toward successfully paying off your holiday debt is taking it out of the emotional re
• First-Time Homebuyers Can Use Tax Credit for Down Payment, Closing Costs for FHA Mortgage
  If you, like many potential home buyers, are leaning toward buying a home in part due to the 8,000 federal tax credit you may be in for a very nice surprise. Instead of having to purchase a home, file a federal income tax return and only then get the tax credit, buyers who choose to apply for a.
• Get a Summer Check Up
  Why not give your credit report a summer check up? Call or go online to the . Why not give your credit report a summer check up? Call or go online to the Annual Credit Reports website to learn how you ca
• Other Options to Payday Loan Company Loans
  If you do find yourself in a situation where you need to borrow or come up with some money relatively quickly, consider these options instead: Ask a friend or relative to make you a short-term loan at a reasonable interest rate. Make it a formal loan by writing up who the loan agreement is between (
• Dealing with a Dependence on Credit when Life Changes
  While using a credit card can be more convenient than writing a check or taking time to stop at an ATM to get cash, using credit as a supplemental source of cash can become an expensive habit which can create an even tighter squeeze on an individual or family budget if life circumstances-or larger e
• Thinking About Your Student Loan(s), Credit Cards and How You Spend Money
  While there are some exciting benefits about entering the “real world” – like having new measures of independence like a job, possibly a place of your own to live, a car and freedom over your schedule – there is also the reality of work and bills and deadlines, which for some graduates, whether they
• Possible Benefits that Credit Unions Can Offer
  There are a variety of reasons that people use credit unions. Credit unions are typically smaller organizations than most banks or savings and loan institutions and can sometimes focus on providing levels of personal financial services or community focus and connections that seem more relevant or in
• Secured Loans and Credit Cards
  If you are having difficulty getting approved for credit, you may want to consider applying for a secured credit card or secured loan instead to begin establishing a credit history. These credit cards and loans are “secured” by money that you deposit in an account.. If you are having difficu
• What Creditors Will Look For and How to Build Credit-Worthiness
  There are several steps you can take to begin the process of applying for credit. First, it’s a good idea to know what creditors look for when considering your application for a loan or credit card.. There are several steps you can take to begin the process of applying for credit. First, it’s a good
• Past Debt
  More than likely both spouses in a blended family situation come into the new marriage with existing debt. It is CRUCIAL to both your new family’s financial and emotional health that you sit down and talk honestly and openly about your financial situations prior to marriage or as early on in the mar
• What Happens if I’m In Over My Head?
  Okay, so maybe you’re reading this and you’re thinking “It’s too late for me! I’ve already maxed out my cards! Don’t panic – there are some steps you can take to get control over you credit card spending and on the path to financial stability: Write it down. Gather your credit card statements and fi
• The Cost of Using Credit
  When you make a purchase or payment with your credit card, you’ll be paying not just that amount, but possibly a few other fees as well. Let’s look at a few of the fees associated with credit cards: Annual fee.. When you make a purchase or payment with your cred
• What is a Debit Card?
  In the 1980s banks began to issue ATM (automated teller machine) cards to customers. These cards enabled customers to withdraw money directly from their account at ATM machines.. In the 1980s banks began to issue ATM (automated teller machine) cards to customers. These cards enabled customers to withdra
• Rising Prices, Fewer Financial Choices
  It's not just families that have suffered an unexpected job loss that are using credit to make ends meet. More and more American families are finding that their income doesn't go as far as before.. It's not just families that have suffered an unexpected job loss that are using credit to make ends
• Tax Changes that Could Affect Your 2009 Tax Bill
  Changes to the tax law in 2009 could affect your federal income tax bill. It’s important to know what tax law changes could affect you personally and how those changes could trigger either an increase or decrease in the amount of money you owe – or the amount of money you could be refunded by – the
• Selecting a Reputable Credit Counseling Agency
  A reputable, accredited credit counseling agency may be able to provide you with the help you need to get on the road to financial recovery. However not all credit counseling agencies are alike.. A reputable, accredited credit counseling agency may be able to provide you with the help you need t
• Tax Changes that Could Affect Your 2010 Tax Bill
  There are a few changes to the tax law that could affect your 2010 federal income tax bill. These changes are important to know about especially if you’re preparing your own taxes. The good news is that most of these changes have the potential to reduce or even eliminate the amount you owe the feder
• Mortgage Center: Resources
  Mortgage Counseling . Mortgage Counseling HopeNow U.S. Department of Housing and Urban Development (HUD)Approved Housing Counseling Agencies Homeownership Preservation Foundation Acorn Housing Corporation Credit Counseling Association of Consumer
• Tips for Keeping Your Credit Habits Under Control
  Try to have only 1 or 2 major credit cards Unless you're trying to establish credit for the first time, don't get cards for individual store accounts. Shop around for the best, lowest-cost credit card.. Try to have only 1 or 2 major credit cards Unless
• Credit Card Reform Begins to Take Effect
  As of August 20, 2009 credit card companies are required to give customers at least 21 days to make their monthly bill payment and at least 45 days advance notice of changes in their card terms and conditions. These changes were part of the Credit Card Accountability Responsibility and Disclosure (C
• Places to Avoid Turning to for Financial Help If Possible
  It is not uncommon for single moms to feel panicked about how they will be able to meet normal living expenses, especially if they do not have adequate savings, insurance or access to credit. If you are considering the following sources of funds, instead think through the previous suggestions as the
• If You Can’t Pay a Medical Bill
  If you cannot pay your medical bills consider some of the following suggestions: Contact the office quickly. Don’t just not pay the bill, call the office and let them know of your difficulty.. If you cannot pay your medical bills consider some of the following suggest
• Credit Unions
  Some credit unions in the U.S.. Some credit unions in the U.S. offer money wiring or remittance services. Credit unions typically do not have a large network of agents in the U.S. or in the country of destination. However, because credit unions are by their charters supposed to ref
• Creating Credit When You Have None
  Most likely at some point in your life you will need to, or want to, use credit. Establishing credit can help you get a job, rent an apartment, buy a car, qualify for a personal loan, finance a college education, purchase a home and more.. Most likely at some point in your life you will ne
• When Should You Use a Debit Card?
  Debit cards can help you maintain financial discipline. Instead of using, and potentially racking up significant, ongoing credit card debt, consider using a debit card.. Debit cards can help you maintain financial discipline. Instead of using, and potentially racking up significant, ongoing cre
• Financing Your Computer Purchase
  Buying a computer may be one of your very first “large” purchases. Take a few minutes to really consider how you’re going to pay for this purchase so that you’re not paying more than you want to and for a longer time than you expect.. Buying a computer may be one of your very first “l
• What Bankruptcy Does and Doesn’t Fix
  Filing for bankruptcy won’t fix any underlying financial strains that could have contributed to you declaring bankruptcy in the first place. For example, if you don’t have enough income to cover your regular expenses, declaring bankruptcy won’t help you bring in additional income..
• Co-Signers
  If you are unable to get approved for credit on your own you may want to consider asking someone with a good, established credit history if he or she will cosign on a credit application with you. When someone co-signs on a loan application they are agreeing to pay any debt that you accumulate by usi
• If Your Application is Denied
  If you apply for credit and your application is denied, find out why. For example, if a creditor says that your application was turned down because of information they received through a credit report, they are required to give you the name, address and telephone number of the credit bureau that pro
• Your Rights when Using Credit
  When you use credit you are entering into a business transaction and relationship with a lender. As part of that relationship you have certain legal rights, including the rights to: Know why a credit application was rejected - if you ask within 60 days of receiving notice of the denial the creditor
• How Thieves Can Steal Your Identity and What Happens When They Do
  It’s frighteningly simple for someone to obtain your personal information. Think about how many times a day you purchase something online, fill out an application or throw out a credit card receipt or piece of mail.. It’s frighteningly simple for someone to obtain your personal information.
• Even Charge Cards are Changing
  Credit cards allow cardholders to roll over their balance due from one billing cycle to the next. It used to be that people holding charge cards (a specific type of credit card) such as American Express were required to pay off the balance in full each month.. Credit cards allow cardho
• Rent to Own: Quick Convenience or Overpriced Commitment?
  The rent-to-own industry is a multi-billion dollar industry that attracts consumers with the promise of taking quick possession on "big-ticket" items, like furniture, appliances, computers and electronics (TVs, DVD players, stereos, etc. with no down payment, no credit check and often no upfront cas
• Advantages of Using a Bank
  There are several advantages to using a bank. Banks: Provide a measure of security for your funds.. There are several advantages to using a bank. Banks: Provide a measure of security for your funds. Instead of worrying about the safety of keeping you
• How to Protect Your Identity
  Preventing identity theft sounds difficult. How can you prevent something when you’re not really sure how it happens? It can help to think about preventing theft by thinking about HOW a potential thief might be able to get, or access, information about you.. Preventing identity theft
• Help for Subprime Mortgage Holders
  If you obtained a subprime mortgage between January 1, 2005 and January 31, 2007 and you are either having difficulty paying the mortgage now, or think you will have difficulty paying it when the interest rate "resets" you may be able to qualify for help. The federal government has worked with mortg
• The Far-Reaching Effects of Filing for Bankruptcy
  While bankruptcy offers the chance for a financial new beginning, it’s not without its costs. Because declaring bankruptcy has such enormous long-term consequences, it should really only be considered as a last resort and with professional financial advice.. While bankruptcy offers t
• What is Credit
  Credit is money lent to you by a person or institution (bank, credit union, etc.. Credit is money lent to you by a person or institution (bank, credit union, etc. There are two main types of credit: when a bank, financial institution, store or person lends you borrow a fixed amount
• Eleven Steps Single Moms Need to Take
  Single moms have mastered the art of multi-tasking. Working, making phone calls, vacuuming, paying bills, feeding kids and taking them places, responding to emails …. Single moms have mastered the art of multi-tasking. Working, making phone calls, vacuuming, paying bills, feeding kids and ta
• What's New This Month
  July '09 : IOUs Issued by the State of California Strapped for cash, the state of California has started issuing more than 3 billion in IOUs to businesses, individual tax payers and county governments to whom it owes money. California state government officials have indicated that the IOUs – which
• Recovering From Bankruptcy and Re-Establishing Your Credit
  If you have filed for bankruptcy you have been through a very stressful, and probably humiliating, time in your life. It can be traumatizing to realize that you have hit rock bottom financially and you may feel panicked or shaky about what this means for your future.. If you have filed for ban
• What the Housing Recovery Bill Could Mean for You
  The housing recovery bill that went into effect on October 1, 2008 has the potential to help millions of American homeowners and homebuyers. There are several ways that you or a loved one may be able to qualify for financial assistance through the bill.. The housing recovery bill
• Your Home Mortgage - A Financial Tool
  As you pay off your mortgage you are building up equity, or savings, in your home. As your savings accumulate and your needs change, or outside economic factors change, you may want to make changes to your mortgage.. As you pay off your mortgage you are building up equity, or savings, in you
• Using an ATM
  Most banks now have automated teller machines (ATMs) ATMs are computers that you can use to access information about your account (such as your account balance) and to get cash from, or make a deposit to, your account.. Most banks now have automated teller machines (ATMs) ATMs are computers tha
• Going it Alone or Together
  Even though you and your loved one have chosen to live together, it doesn’t necessarily mean that you have to choose to combine your finances. Instead of “falling” into the topic by default (i.e. a utility bill arrives in the. Even though you and your loved one have chosen to
• I'm too busy paying off debt.
  Congratulations! You've already begun taking charge of your financial future…maybe without even realizing it! Paying off debt, particularly debt that carries a high interest rate such as credit card debt, is for many the best first step to begin saving and investing for your future. That said, you s
• Teenagers
  Your teenage children will need to take increasing responsibility for spending and saving and learn from the natural consequences of personal financial choices. Talk with your teen about the values you and your spouse hold regarding money, how those values have shaped your financial choices as a fam
• Bill-Paying Tips
  All of us have to deal with paying bills. And most of us dread it.. All of us have to deal with paying bills. And most of us dread it. Having a plan and a process for bill-paying can make it easier. Following are some tips to create some good bill-paying habits and reduce stress when it comes
• Is That Balance Transfer Worth It?
  LIKE MANY PEOPLE THESE days, 69-year-old Ira Stoller uses cash-rebate credit-cards for all of his purchases, lowering his bills by as much as 5% But these savings are nothing compared with the profit the traveling salesman from Butler, N.. LIKE MANY PEOPLE THESE da
• The Single Woman
  Scenario: Rosa is a 40-year old single woman living in Rhode Island. She is a manager of media development for a large Fortune 500 company.. Scenario: Rosa is a 40-year old single woman living in Rhode Island. She is a manager of media development for a large Fortune 500 company. She earns
• When Debt is Overwhelming You
  As a single mother Dana is used to making her income stretch. But with the rising cost of basic necessities like gas, food and utilities, and her growing son's needs, her paycheck isn't stretching far enough.. As a single mother Dana is used to making her income stretch. But with the
• How can I make interest rates work for me?
  Again, the key is to make sure that you're earning the most interest possible on money you're saving and investing and that you're paying the least interest possible on money you're borrowing. Before you deposit your savings in a savings account or before you invest your savings, you'll want to call
• Avoiding Additional Debt
  It’s important to encourage the person you are trying to help to avoid taking on debt or increasing existing debt if at all possible during this time. While it may not be possible to avoid borrowing some money during this crunch urge them to: try to only use cash when shopping keep a record of charg
• What if I, or my spouse, is actively serving in combat zones overseas?
  First, taxpayers covered by military-related tax relief provisions should put the words "COMBAT ZONE" and their deployment date in red ink at the top of their tax returns. If you are active military or a reservist called to active duty you may qualify for two tax breaks..
• Tax Issues
  While none of us particularly enjoys having to file and pay taxes it is an important part of our financial planning. Our Tomorrowsmoney.. While none of us particularly enjoys having to file and pay taxes it is an important part of our financial planning. Our Tomorrowsmoney.org website pr
• Alternatives to Consider if You Have Difficulty Securing Credit on Your Own
  If you have been turned down several times, don’t continue to apply for credit. It won’t look good on your credit report (which is what credit-extending companies use to determine if they will lend you money) and it can become unnecessarily frustrating.. If you have been turned d
• What is a Credit Counseling Agency
  Credit counseling agencies are nonprofit organizations that provide financial counseling and education to clients who are having significant trouble managing their debts. Credit counseling agencies offer a wide array of services to help people that need to get a handle on their use of credit and lea
• Managing Your Student Loan
  Learning how to manage your personal finances – including repaying your student loan – is an important part of the road to financial independence. If you’re like most college students with a student loan, this is your first experience having to repay a formal loan.. Learning how to manage yo
• Comparing Credit Card Offers
  IT'S NO SUPRISE that so many people still carry credit cards with annual percentage rates (APRs) of 13% or higher. After all, there's a whole industry of card issuers out there devoted to using hidden fees and interest rate gymnastics to gouge you as best they can..
• Alternatives to Using a Check-Cashing Store
  There are alternatives. While it can seem more convenient and even comfortable to use a check-cashing store, the truth is that there are much better, less expensive options that will perform the same services and leave you with more money in your pocket or to send home.. There are alternatives. W
• 10 Simple Steps to Start Saving Money Now
  Develop a simple, easy to implement plan with Tomorrow's Money “Personal Savings Schedule” Click here to link directly to the site’s . Develop a simple, easy to implement plan with Tomorrow's Money “Personal Savings Schedule” Click her
• Financial Tools
  In addition to insurance benefits your employer will likely offer various financial tools that you can use to reduce your taxable income and save for your short-term needs and long-term goals. Health Spending Accounts Healthcare spending accounts provide you with a way to pay for health care expense
• Your Current Debt and Ways to Save for a Mortgage Down Payment
  The amount of debt you currently have and your credit score (which tells lenders how reliable you are about repaying your debt and loans) will also affect how much interest you will be charged on your loan. You should consider getting a free copy of your credit report now, early on in the home-buyin
• Good Financial Behaviors You Can Model for Your Children
  In addition to finding ways to teach your children about money there are things you can do on a regular basis to model good financial habits.. In addition to finding ways to teach your children about money there are things you can do on a regular basis to model good financial habits such as:
• 16 Warning Signs You Could Be Heading for Financial Trouble
  We’ve all done it before – forgotten to pay a bill on time, charged more on our credit cards than we should, etc. But there are some financial “red flags” you should pay attention to realize that without a course correction, you’re headed for financial trouble.. – forgotten to pay a bill on time, charged more on
• Have a Plan to Manage Debt
  Whether you choose to pool incomes and pay down/payoff your individual and combined debts, or if you choose to keep your income and debts separate, it’s important that you both clearly understand, and have a plan for paying off: the individual debt obligations you incurred before your remarriage tha
• Planning for Next Year
  Don’t despair. What can you learn from your overspending this year? Here are some questions to ask yourself so you don’t find yourself repeating the same mistake come next December: 1) What did I spend money on? Look back over your charges and categorize where you overspent. In other words, WHAT did
• What Credit Unions Offer
  Credit unions offer their members a wide variety of financial products and services. At a minimum, credit unions accept deposits for savings accounts.. Credit unions offer their members a wide variety of financial products and services. At a minimum, credit unions accept d
• Working with Creditors
  Once the person you are trying to help has identified his or her financial priorities, commitments and resources he or she will have the necessary information to talk with creditors. Encourage him or her to collect paperwork on each outstanding loan they hold, to calculate how much they could afford
• Identifying the Factors Creating the Current Financial Crunch
  Sometimes the reason for a financial crisis is obvious – a wage-earner in a family was laid-off, or a family member got sick and there was no health insurance to cover mounting medical bills, etc. But often even just one obvious issue (i.. Sometimes the reason for a financial crisis is obv
• The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
  The Bankruptcy Abuse Prevention and Consumer Protection Act significantly changes how, and under what conditions, individuals can file for bankruptcy. The most significant changes to bankruptcy law apply to Chapter 7 bankruptcy because under Chapter 7 debtors are able to discharge, or not have to re
• Drafts and International Money Orders
  Drafts and international money orders are like checks that the bank, credit union or other provider sends on behalf of you, the sender, to your designated recipient. How it works: You will usually pay for the draft or the international money order with cash or by an electronic funds transfer (EFT) T
• A Divorcee
  Scenario: Jill is a 30 year old public relations assistant living in Massachusetts. She is in the process of getting a divorce from her husband of 4 years.. Scenario: Jill is a 30 year old public relations assistant living in Massachusetts. She is in the process of getting a divorc
• Medical Bills
  Millions of families, every year, have difficulty paying their medical bills. However paying your medical bills is as important as paying any other bill.. Millions of families, every year, have difficulty paying their medical bills. However paying your medical bills is as importa
• Opening an Account
  To open an account, a bank’s customer service representative will first explain the account options, benefits, fees and services. Then he/she will ask you to complete an application and provide at least one form of personal identification with a photo (such as a driver’s license, passport or militar
• Travel Tips
  There’s no time like the holidays to visit friends and family. According to the Bureau of Transportation Statistics, about 5.. There’s no time like the holidays to visit friends and family. According to the Bureau of Transportation Statistics, about 5.8 million Americans make
• Debt Collectors and Your Rights
  When you start not paying your credit cards or bills, you will first receive late notices in the mail. Then you are likely to get phone calls notifying you that you are behind on your payments.. When you start not paying your credit cards or bills, you will first receive late notices in the mai
• Credit from Local Stores
  You may want to consider using programs offered by smaller and/or local stores that allow you to make a purchase and pay the bill off in monthly installments over a set period of time. By using it responsibly (paying your bills on time and in full) you are building a strong credit history that will
• Borrowing against Your Home’s Value
  If you own your own home you may want to consider taking out a loan against the equity, or savings, you have built up in your home by taking out a home equity loan. If you have good credit – meaning that you have made your monthly mortgage payments in full and on time – you may be eligible to take o
• The Earned Income Tax Credit (EITC) – What it is and How to Know if You Qualify For it
  Did you know that there is a tax credit for low-income workers that can lower or even eliminate your federal income tax burden? It's called the earned income tax credit (EITC) and it has been helping millions of low-income working families and individuals for nearly 30 years. If you do qualify for a
• Can You Afford Not To?
  You may find that starting your business is more of a necessity than a choice. If your employer closes or moves and you don’t have many other job opportunities in your area, working for yourself may be your only option.. You may find that starting your business is more of a necessity than a choi
• Your Bank and Bounced Checks
  If you’re like most people with a checking account, chances are you have bounced at least one check in the past. “Bouncing” a check – meaning that you wrote a check for more money than you had in your account – is at the least embarrassing and at the worst, possibly a very costly financial mistake..
• Staying in Financial Control While You’re in College
  Going to college can be exciting, fun…and expensive. And we’re not just talking about tuition, room and board.. Going to college can be exciting, fun…and expensive. And we’re not just talking about tuition, room and board. There can be a lot of unexpected, small expenses that can add up
• 10 Smart Ways to Make a Little Extra Savings Go a Long Way
  Regardless of your age, how much or how little you already have saved, or how little you feel like you can save, it's never too late to start saving for your future Every little bit - at every stage - can add up to a significant amount.. Regardless of your age, h
• Mortgage Counseling If You're Having Trouble Paying Your Mortgage
  If you are having difficulty making your monthly mortgage payment or even facing foreclosure you cannot afford to wait and hope that you can resolve the issue later. If you are behind on your mortgage you can be faced with foreclosure, and sooner than you may realize.. If you are having difficu
• When You Lose Control of Your Finances – How to Get Back on Track
  Jessica was scared. She had a full-time job and thought she made enough money to cover her bills. However after an unexpected car accident and subsequent repairs, a higher-than-expected insurance premium increase and a flurry of bills she began to worry that she wouldn’t have enough money in her che
• In a Tough Economy, the Federal PLUS Loan May Give Parents Extra Cash Needed for a Child's College Tuition
  If you have a son or daughter in college, the recession may have impacted your savings and investments at a time when you were depending on those resources to pay for college. With lenders tightening up requirements to qualify for personal or home equity loans you may be looking for other financial
• First Steps
  Once you have made the choice to take back control of your financial life there are some immediate first steps you can take to feel empowered and make a significant, positive difference Get rid of the guilt. Feeling guilty or. Once you have made the choice to take back control of your financial life t
• Moving Forward
  After you have taken the first steps to identify the source of your financial problem(s) and your current budget the next step is taking action Talk to your creditors. If you’re behind on bills or if something has changed (i.e.. After you have taken the first steps to identify the source of your financi
• A Guide to Using a Bank and Bank Services for the First Time
  If you don’t use a bank, credit union, or thrift/ savings and loan institution you are like nearly 10 percent of the American population. There are a wide variety of reasons that people don’t use banks.. If you don’t use a bank, credit union, or thrift/ savings and loan instituti
• How It Works
  While you work you are building your future Social Security retirement benefits. You pay into Social Security through a payroll tax which is deducted from your paychecks, or you pay as part of your quarterly estimated or year-end tax bill.. While you work you are building your future Social
• The FHA Secure Mortgage Loan Refinancing Program: What Is It and Could It Help You?
  An estimated 60,000 qualified homeowners with strong credit histories who have fallen behind on their mortgage payments because of rising interest rates initially offered on their adjustable-rate mortgages (called “teaser rates” will now be able to refinance into a government-insured “FHASecure” mor
• Can I get help if I don't speak English well?
  If you don't speak English well or if you prefer to have services provided in another language, or if English is not your first language, there is help out there for you. Sometimes companies such as banks, savings and loans, credit unions, and mortgage companies have services in different languages,
• The Financial Side of Homeownership
  Buying a home is the single largest financial commitment that most people ever make. By taking some time to think about and plan how you will maintain your investment and stay current on your mortgage, you can create some good financial habits at the outset of homeownership that will pay off for yea
• Integrating Your Student Loan into Your Financial Lifestyle
  Getting out of school can be an exciting time. Perhaps for the first time you are living on your own, earning your own money and choosing what to spend your income on.. Getting out of school can be an exciting time. Perhaps for the first time you are living on your own, earning your own money
• And How Would You Like to Pay for This?
  Now that you have a list of who you’re giving gifts to, what type of gifts you’re looking for and how much you’re going to spend on each gift recipient, it’s time to pause and take a quick check on your finances. Here are a few questions to ask yourself before you head out to “shop ‘til you drop” Ho
• What difference does the interest rate make
  Even a small difference in interest rates can make a big difference in how much you'll owe or you'll earn. The key is when it comes to debt you want a low interest rate and when it comes to saving and investing you want a high interest rate.. Even a small difference in interest rates can make
• ATMs and Debit Cards
  Using an ATM or debit card (that automatically withdraws money directly from your account) is an increasingly popular way of accessing and sending money abroad. There are two international ATM networks that can be used to withdraw money from an account overseas – the VISA/PLUS ATM network or the Mas
• Credit and Debt
  Credit has been the proverbial “third rail” of personal finances – virtually necessary for everyday life but potentially dangerous when not handled well. What role does credit play in your life? Do you view it as essential to supplementing your regular income?  Is it something you feel confident mana
• Ending Financial Relationships with Ex-Spouses
  While your marriage with your ex-spouse may be over, having children means that you will most likely have to maintain a relationship with him or her, even if it’s mediated through lawyers. It’s important that you both strive to work together – fairly, openly and honestly - on issues that affect your
• Identity Theft
  Identity theft. While it may be a relatively new form of crime, it’s catching on frighteningly fast.. Identity theft. While it may be a relatively new form of crime, it’s catching on frighteningly fast. In fact the FBI calls identity theft one of the fastest growing crimes in the United States and est
• Credit Counseling - What it is, When You Might Consider It, and How to Choose a Reputable Provider
  Every year millions of Americans find themselves struggling with unexpected bills, mounting debt and financial strain. Increasingly people are using the services of credit counseling agencies – organizations that offer professional advice, support, services and tools to help people manage and pay of
• Determining Your Down Payment Amount
  How much money do I have to save to have enough for a down payment?  The amount of money that you will need to save for a down payment on a home varies by: (1) how much the home costs and (2) the type of loan you qualify for. While most people begin looking at home sale prices first, it’s actually be
• Other Financing Options
  If you can’t pay cash for a computer, consider a few alternatives before taking on a potentially expensive loan or charging the purchase on your credit card. For example: Determine what system you would like to get and then really competitively shop both at stores in your area and online. You might
• Who Uses Payday Loan Companies and Why
  When or why would you consider obtaining a loan from a company that could charge you upwards of 700% interest? Perhaps you are considering getting a loan through a payday loan company because: you don't know how these kinds of loans really work and you don't know where else you could get the money y
• When You Might Want to Consider Credit Counseling
  Reputable credit counseling agencies can offer real help. There are a number of reasons that you might want to consider using the services of a credit counseling agency.. Reputable credit counseling agencies can offer real help. There are a number of reasons that you might want to consider using
• Debt: The Anti-Investment
  Diminishing Your Debt Diminish (di min'ish) – v. to reduce in size.. Diminishing Your Debt Diminish (di min'ish) – v. to reduce in size. Reducing the size of your debt sounds nice, doesn't it? Sure, but what does that have to do with investing? Everything. Take a look at your next credit card
• The Link between Credit and Debt
  When you use credit – either a line of credit, or a fixed amount of credit – and do not repay the full amount immediately that is called accumulating debt. Most financial professionals refer to two types of debt – “good debt” and “bad (or unnecessary) debt..
• Goal Setting
  Think of the last time you felt really proud of yourself. What was it that you achieved that you took pride in?  Was it an award that you won at work?  Losing a certain amount of weight?  Finishing coursework toward a degree?  Chances are that whatever it was, you thought about it, planned for it and wo
• Rising Interest Rates and the Mortgage Crunch and What It May Mean to You
  The initial housing boom began in early 2002 - 2003. Interest rates were falling to all-time lows.. The initial housing boom began in early 2002 - 2003. Interest rates were falling to all-time lows. A surge of homebuyers eager to take advantage of the low interest rates on mortgages began pushing ho
• Seasonal Stories
  Fall Home Buying 101 Want to become a homeowner? Wonder what it will take to get there? Click here to check out our new series on "Home Buying 101" - a step-by-step monthly guide to turning the dream of homeownership into a reality . Open Enrollment It's fall - the "open enrollment" season for thous
• Finding Money to Pay Down Your Debt
  After you have listed all your debts – credit cards, medical bills, department store bills, mortgages, car loans, etc. - you may be tempted to panic and say “But I just don’t have any money to even begin paying my debt off! Realize that you may have options you’re not aware of..
• The Benefits of Using a Bank Instead of a Check-Cashing Store
  Besides paying less overall for services, you can get a variety of benefits and services from a bank that you can’t get when using a check-cashing store: Your money can earn interest. Unlike when using a check-cashing store for a one-time transaction (i..
• Bank Services
  In addition to accounts, banks can offer a wide variety of services such as: Check-cashing. Banks will typically cash checks for their customers for free.. In addition to accounts, banks can offer a wide variety of services such as: Check-cashing. Banks wi
• Tips and Questions When Sending Money Abroad
  Tips Never send cash or activated credit cards through the mail Never send activated debit or ATM cards through the mail accompanied with the password or PIN number Get a receipt for any service Questions to Ask When Using a Service to Send Money Abroad What do you base your fees on (i.e. is it a fi
• Four Ways to Buy Cell Phone Service
  Buying a cell phone isn’t like buying a box of cereal – go into the grocery store, pick a box, pay the cashier and go home. No, it’s more like buying a car.. Buying a cell phone isn’t like buying a box of cereal – go into the grocery store, pick a box, pay the cashier and go home. N
• Saving
  Saving money is not something that we, as Americans, are very good at. In fact the U.. hing that we, as Americans, are very good at. In fact the U.S. Department of Commerce reported that America’s personal savings rate is the lowest in the industrialized world. .Saving money is a critical habit to develop a
• Signing a Lease
  Depending on your timeframe and the market for rental properties in your area you may need to sign a lease quickly, in which case you need to understand what the lease outlines and what you’ll need to provide. If you’re renting from a large property management company (like those that own large apar
• 10 Great Things to Do with Your Tax Refund
  According to the IRS nearly 75% of all Americans will get a tax refund this year, averaging nearly 2,500. Do you anticipate receiving a refund? If so, don’t just rush ahead and spend it.. According to the IRS nearly 75% of all Americans will get a tax refund this year, averaging nearly
• Managing Finances When You Are Working More than One Job
  According to the U.S. Census Bureau 5% of all American workers – or nearly 8 million people - hold multiple jobs. While more women than men (5.5% vs. 4.7% work more than one job, the reality is that anyone who has more than one employer has to deal with potential increased stress on several levels,
• The Inevitable Cashflow Crunch
  You will hear a lot about “feast or famine” in the world of self-employment. Some seasons are busier than others.. You will hear a lot about “feast or famine” in the world of self-employment. Some seasons are busier than others. Some customers pay sooner than others. Yet expenses usually r
• Finding Funding
  Every business has start-up costs. Even if you plan to offer your special skills as a service, you still need to cover your own cost of living until you get your first payment from a customer.. Every business has start-up costs. Even if you plan to offer your special skills as a service, y
• Finding Funding
  Every business has start-up costs. Even if you plan to offer your special skills as a service, you still need to cover your own cost of living until you get your first payment from a customer.. Every business has start-up costs. Even if you plan to offer your special skills as a service, y
• Tips to Maintain Financial Stability
  Life changes. And you, with a fluctuating income, probably know that better than most. There are some things to keep in mind that can help you stay on track with your plan to create more personal financial stability.. Life changes. And you, with a fluctuating income, probably know that better
• Finding a Bank that Works for You
  Before you even begin to think about finding and using a bank or credit union, think about what you really need in a bank. Do you want: a . Before you even begin to think about finding and using a bank or credit union, think about what you
• Financing the Purchase of a Foreclosed Property
  Unless you are able to pay cash for your purchase you will need to find financing – which means getting a loan to pay the required costs and agreeing to repay the money lent (plus interest) over a specified period. y cash for your purchase you will need to find financing – which means getting a loan to pay the req
• Sharing Financial Accounts or Keeping Them Separate?
  In addition to deciding how you will handle household expenses, you will also need to, or should, talk about your financial accounts. Financial accounts include checking accounts, savings accounts, money market accounts, credit cards, non retirement related investment accounts (i.e..
• I don't know where to turn for help.
  Once you're comfortable knowing your own financial situation, and have begun making some small, but very important steps, toward saving and investing you may want to get additional help. There's a wealth of good, easy-to-understand, free help available by going online or doing some simple research a
• I have a pretty good budget, but....
  Ultimately, you'll need to decide for yourself what financial goals are most critical for you to reach. Everyone's financial planning methods are different…personal.. o decide for yourself what financial goals are most critical for you to reach. Everyone's financial planning methods are different…personal. Following
• I don't know where to begin.
  The most important part about beginning to save and invest is just that…beginning. In fact, changing your attitude toward saving and investing may be the biggest hurdle you have to overcome.. bout beginning to save and invest is just that…beginning. In fact, changing your attitude toward saving and investing may be
• I've already declared bankruptcy, my credit is ruined, and I know I'll never really be able to get ahead--so what's the point?
  Failure is not final, so the saying goes. The same is true for bankruptcy.. the saying goes. The same is true for bankruptcy. Every year hundreds of thousands of Americans file for bankruptcy and have to begin the road back to repairing their financial life. Regardless of how disappointing or even de
• Short Sales: What They Are and Why a Homeowner Might Pursue One
  Homeowners who are pressed to make their mortgage payments – or are already behind – may consider trying a short sale as an option to letting the bank foreclose. A short sale is when a mortgage lender agrees to accept less money than the amount the homeowner owes on the loan.. d to make their mortgage
• Buying vs. Leasing
  To buy or to lease that is the question. But what, exactly, is leasing and is it a better deal than buying? Let’s review.. s the question. But what, exactly, is leasing and is it a better deal than buying?  Let’s review. Buying a car. When you buy a car, you, well, buy it. Meaning that you either p
• Health Insurance
  When you were a child, you probably didn’t think about health insurance. If you needed to go to a doctor, the adults in your life took you.. When you were a child, you probably didn’t think about health insurance. If you needed to go to a doctor, the adults in your life took you. They helpe
• Money is tight... what I can afford?
  You might be like millions of Americans who dread opening up their monthly credit card statements, or who haven't actually balanced their checkbook for months…or longer. If you feel like you don't have any control over your money, the reality is it's controlling you.. You might be like million
• Insurance
  Health Insurance While the exact type of health insurance varies across federal, state and local governments, every public employer offers health insurance coverage and benefits to full-time workers and often to part-time workers as well. The Federal Employees Health Benefits Program (FEHB) offers h
• What Type of Bond Do I Want to Buy?
  Most bonds are issued by one of three groups: the U.S.. Most bonds are issued by one of three groups: the U.S. government or federal agencies; state and local governments, and corporations. Here's a breakdown of the types of bonds
• Financial Advisor-Related Questions
  Once you have a grasp on your basic financial picture, you may decide to look for some outside help in managing your finances or making decisions involving your finances. To find the right financial professional, it's important to first ask what type of help you're looking for..
• Topics to Discuss
  As the old saying goes, the best way to eat an elephant is one bite at a time. You’re not going to discuss every financial topic and reach an agreement on all of your priorities in one discussion.. As the old saying goes, the best way to eat an elephant is one bite at a time. You’re not going to d
• What is interest?
  Interest is a fee. It's the amount of money you either earn on an investment or the money you owe on a loan.. Interest is a fee. It's the amount of money you either earn on an investment or the money you owe on a loan. When banks or other financial institutions give you credit, such a
• Investing is too risky for me.
  FALSE. Not investing is even riskier.. FALSE. Not investing is even riskier. That’s because inflation , even at today’s low rate, causes a dollar to be worth less tomorrow than it is today because the cost of living continues to creep upward. If the interest rate
• Credit quality
  Credit quality : a measure of the financial strength of a borrower that suggests its ability to repay its loans. Bond issuers with low credit quality have to offer higher interest rates because the investors who buy their bonds take a bigger risk that their loan will not be repaid.
• Differences between Saving and Investing
  Saving is the process of putting money aside now—rather than spending it—so you have it when you need it later. When you deposit money in savings accounts, checking accounts, and Certificates of Deposit (CDs) in a bank or credit union, your deposits are likely to be insured by the Federal Deposit In
• Alternatives to Getting a Refund Anticipation Loan
  There are options likely to be less expensive than an RAL if you need the amount of money that you will get from your tax refund quickly. For example: If you simply want to speed up getting your refund, file your income tax forms online (visit www.IRS.gov ) and you can have your refund check either
• Our family is drowning in debt and bills due to a medical situation. Any type of future financial planning is pointless.
  It’s understandable that dealing with the financial fallout from an emergency and/or significant medical condition can be stressful and make “financial planning” seem beyond your reach. However, financial planning simply means to be intentionally aware of how you are making actively choices about yo
• Budgeting on a Military Salary
  Budgeting can seem very difficult on a military paycheck, especially if your servicemember is not earning a lot and if you, as a spouse, are unable to bring in steady additional income to supplement the military pay. Often it can be difficult for a military spouse to earn additional regular income b
• Preventing Identity Theft
  According to the Federal Trade Commission, more than half a million Americans become victims of identity theft every year. As a single woman it is critically important that you take all necessary precautions to protect your identity.. According to the Federal
• Evaluating Healthcare Insurance Options
  According to the U.S.. According to the U.S. Census Bureau, nearly 45 million Americans do not have health insurance. Not having health insurance can take a tremendous toll on individuals and families. Harvard Professor Elizabeth Warren found that medical bills contributed to half of all personal
• Similarities between Health and Money
  Let’s consider some of the similarities between your health and your money, and then address small ways that you can begin making positive steps in both areas. Barbara O’Neill and Karen Ensle at Rutgers University have identified some interesting, practical similarities between money and health and
• Law Protects Military Members from High-Interest “Payday” Lenders
  A law to help protect military families will cap interest rates set by payday lending companies for military borrowers and their families at 36 percent. Payday lenders, many of whom set up shop near military bases across the U.. A law to help protect military families will cap interest rates set by payd
• Saving for Next Year’s Holidays
  Once you’ve begun to alter your plans for next year the next step is to create a plan to save over the next 11 months so you have some money on hand toward those expenses – even just 10/week adds up. Come next December you could have nearly 500 saved.. Once you’ve begun to alte
• Paying Your Cell Phone Bill
  You will get a cell phone bill each month. There are a few things you should do when you get it: Open it up.. You will get a cell phone bill each month. There are a few things you should do when you get it: Open it up. Sounds straightforward, maybe even a litt
• Saving at the Pump
  To help reduce your overall gas consumption consider the following tips: Drive wisely. Aggressive driving (raking, speeding and rapid acceleration) is not only unsafe but a waste of gas – you can use up to 33 percent more gas by driving aggressively at highway speeds! Pump your tires up. By keeping
• Who Will Be Helped Under the Making Home More Affordable Program
  The Obama Administration’s 75 billion “Making Home Affordable” housing plan is designed to help approximately 9 million people who are at-risk for either defaulting on their mortgage loans or going into foreclosure. The plan is part of the 400 billion “bailout” package approved by Congress in Fall
• Trip Insurance
  Imagine that for you have been saving and planning for a special family reunion at a wonderful location but at the last minute your spouse or child becomes so ill your family cannot go. Or an approaching hurricane or forest fire forces the event to be cancelled.. Imagine that for you have
• What Happens When Your Debt is Discharged Under a Chapter 7 Bankruptcy
  Once your non-exempt property is sold the court will appoint a trustee to take the money raised to pay off your “dischargeable” debts. You will still be responsible for paying your non-dischargeable debts.. Once your non-exempt property is sold the court will appoint a trustee to t
• How to begin to think about saving
  Saving money can seem impossible sometimes. But with a little thought you may be surprised that you can find ways to save money.. Saving money can seem impossible sometimes. But with a little thought you may be surprised that you can find ways to save money. And we don't mean a l
• Places to Turn When Money is Tight
  No matter how much you work and plan and take wise financial first steps, like those outlined in the “11 Things Single Moms Must Do, there are times when financial issues can become overwhelming and money seems impossibly tight. Take heart.. No matter how much you work and plan and take wise
• Clean Out Your Wallet
  Lose a little summer weight by emptying out your wallet. Take stock of what you've got - do you really need all those credit cards? Consider cutting up a few and consolidating some of your credit card debt.. Lose a little summer weight by emptying out your wallet. Take stock of what
• Planning a vacation
  You work hard and you look forward to taking some time to get away over the summer. But it can be easy to overspend on vacation and regret it later.. You work hard and you look forward to taking some time to get away over the summer. But it can be easy to overspend on vacation and regret it later. H
• Who Uses Check-Cashing Stores and Why?
  Rojare’s situation is a perfect example of why some people use check-cashing stores. Some people have never used a bank or are too afraid to use one.. Rojare’s situation is a perfect example of why some people use check-cashing stores. Some people have never used a bank or are too afraid to use one.
• What It Means to Have a Student Loan
  When you got your student loan maybe your parents – and you – breathed a sigh of relief that you had a way to finance your education. It took some of the burden off your parents to take on extra jobs or find other sources of income to pay for your schooling.. When you got your student
• Elementary-age school children
  At this age children can begin to take a more active role and grasp bigger concepts regarding money. Reinforce the concept of coins and paper money and introduce the concepts of checks and credit cards.. At this age children can begin to take a more acti
• What if I live overseas?
  If you're either military or a civilian living overseas, there are a few helpful things to know. First, if you qualify for overseas residency (as a U.. If you're either military or a civilian living overseas, there are a few helpful things to know. First, if you qualify for overseas residency (as a U.
• The Inevitable Cashflow Crunch
  You will hear a lot about “feast or famine” in the world of self-employment. Some seasons are busier than others.. You will hear a lot about “feast or famine” in the world of self-employment. Some seasons are busier than others. Some customers pay sooner than others. Yet expenses usually r
• Seeking Professional Advice
  An important aspect of succeeding in your own business is knowing your limitations and when to ask for help. Just about every business owner will eventually need the services of a bookkeeper, an accountant for help with taxes, and an attorney for assistance on business structure and contracts..
• Dealing with Deployment
  Deployment is a stressful time for every member of the family. By taking time to talk together as a family, and separately as a couple, you can better manage both the emotional and logistical aspects of being apart from your servicemember.. Deployment is a stressful time for every member of
• What Does Financial Peace of Mind Look Like For Your Family?
  Would you describe yourself as financially stressed? Money is a leading cause of stress for millions of Americans, and that stress is heightened during periods of economic uncertainty such as high unemployment rates and a national recession. If you would like to have more “financial peace of mind” t
• Planning to Manage Wedding Day Costs
  According to a Conde Nast Bridal Group survey, the average cost of a wedding is approximately 27,800. Nearly one-third of all American couples pay for their own wedding and laying out that much money (or accumulating that much credit card debt) early on in the marriage can have a significant im
• Stretching Your Retirement Spending Dollar
  During retirement you are going to have to make your income and savings stretch further than before to reduce the risk of outliving your financial reserve. To do that you will need to start with a plan for how to strategically draw down your retirement savings and investments , and then mindfully ma
• When There is a Gap Between Income and Expense
  That’s another way of saying that you’re spending more than you’re earning! Instead of feeling automatically overwhelmed or fearful, consider it just as a piece of information that can help you determine what you’re fearful of or concerned about. Even though the thought of having more debt/expenses
• Adapting to Long-Term Temporary or Independent Contract Work
  Since the recession of 2008 employers have been slow to re-hire people for positions that they cut. If you lost your job, you may have started working with a temporary staffing firm or working as an independent contractor, or freelancer, to help make ends meet.. 08 employers have been slow to re-hire people for
• Investing in Your 20s
  Starting out in the workforce you have a huge advantage working for your retirement planning: time is on your side. By creating the habit of saving and investing for retirement now, time will enable you to reap the benefit of both compounding interest and long-term gains.. Starting out in the workf
• Overcoming Obstacle Number Two: Finding Money
  Unlike students who have not entered the workforce, adult students are often unsure about how – or if – they can afford to leave full-time work with its wage/salary, benefits (including insurance, paid vacation, etc. and career advancement possibilities.. Unlike students who have
• Special Circumstances
  Pre-Existing Conditions and Waiting Periods Under the Heath Insurance Portability and Accountability Act (HIPAA) if you have a pre-existing condition (meaning a medical condition you had prior to applying for new health insurance) you cannot be turned down for coverage or made to wait for coverage i
• Healthcare Savings Accounts (HSAs)
  In addition to simply putting money aside for future medical or healthcare costs in a checking or savings account you may also be able to use something called Healthcare Savings Accounts (HSAs) HSAs can only be used by people that have high-deductible health insurance policies.. ting money aside for futu
• Handling Your Finances
  Handling money matters is intimidating for a lot of people. Maybe it is for you.. Handling money matters is intimidating for a lot of people. Maybe it is for you. You may be overwhelmed or uncertain as to how to start facing your finances. Money matters can seem like a bottomless p
• Do You Have Too Much Debt?
  NEARLY EVERY red-blooded American is walking around with at least some debt. After all, most of us have mortgages.. NEARLY EVERY red-blooded American is walking around with at least some debt. After all, most of us have mortgages. Many of us have auto loans. Parents
• Giving Wisely
  Every year millions of people support nonprofit organizations to care for people in their communities, strengthen causes they feel strongly about, and reach out to people affected by disasters. Giving is a noble and generous act of caring and service.. Every year millions of people support nonprofit or
• Ways to Save Money on Prescription Drugs
  Buy Generic. Because prescriptions can be costly especially for people with no, limited or fixed incomes, each state has a law that lets pharmacists substitute less expensive generic drugs for many brand-name drugs.. Buy Generic. Because prescriptions can be costly e
• Special Circumstances
• Figuring Out the “What Ifs”
  Although this is a very exciting, hopeful time for you as a couple it’s important to talk about, and make contingency plans for, things that none of us particularly want to consider but need to be discussed. These include… Thinking about a prenuptial agreement. While it can seem extremely unromantic
• Improve Your Finances with a Little Math
  Math. Whether you were good at math in school or not, you can make math work for you…and not necessarily the way you think when it comes to money.. Math. Whether you were good at math in school or not, you can make math work for you…and not necessarily the way you think when it comes to money. The
• Help! I don't know how to get a handle on my finances.
  No matter how lost you feel, or how behind in your bills you are, there are a few simple things you can do to begin getting a handle on your finances: Step 1: Identify your income. Don't overlook all your potential sources of income: Paycheck from your full-time job Income from a part-time job or oc
• Online Banking
  Most banks now offer online banking – a service where you can check your account activity and balances, pay bills and transfer funds between accounts over the internet. Make sure you know if your bank charges you a monthly fee to be able to use their online banking service.. Most banks now offer onli
• Withdrawing Money from an Account
  You can withdraw money from your account in a few ways – by writing a check to “cash” completing a withdrawal slip or using your ATM or debit card. You can: Go into the bank branch and give the teller a completed withdrawal slip or personal check made out to “cash” Use the bank drive-thru to give th
• A Single Mom
  Scenario: Candy is struggling right now. She works at a local super mart.. Scenario: Candy is struggling right now. She works at a local super mart. She has two kids and wants to do the right things but just can’t seem to get things to go her way. She can’t make ends meet, there is more month than m
• Collectibles and Valuables Insurance
• Collectibles and Valuables Insurance
  Did you inherit family china or jewelry? Do you collect antiques or artwork? Are you a hobbyist with a valuable collection of baseball cards, dolls, stamps or books? It’s important to know that most standard homeowners’ insurance does not cover the repair, restoration or replacement costs of collect
• Making Purchases with a Debit Card
  Most stores, gas stations, restaurants and other locations accept debit cards for payment. Ask the cashier or clerk if the store accepts debit card.. Most stores, gas stations, restaurants and other locations accept debit cards for payment. Ask the cashier or clerk if the store accepts debit card. I
• Using a Debit Card
  Just the name “debit card” can seem confusing. Is it something you can use like a credit card? Is it something you use to take cash out of an account like an ATM card? Using debit cards wisely involves knowing what they are, how they work and then thinking carefully about how to use them as part of
• Holiday Entertaining
  Office parties. Neighborhood parties.. Office parties. Neighborhood parties. Open houses and formal dinners…the holidays are a time for entertaining. Whether you’re giving the party or simply attending, taking a few minutes to think ahead can help save you money in the long run. Here are
• Can You Afford To?
  Starting a business takes time, energy, help and money. The money you need is not only for the things you will need for the business itself—materials, a computer, business cards and stationery, a website, a phone line, a car to go see customers, bookkeeping software, whatever—it’s also the money you
• Preparing for Your Job Interview
  It's a good idea to practice before the actual interview. How? Ask friends and family members to help you work through answers to potential questions.. It's a good idea to practice before the actual interview. How? Ask friends and family members to help you work through answers to potential questions.
• Story File
  The SIFMA Foundation for Investor Education seeks to provide you with the best information, tools and resources available to help your followers become more financially literate. We have compiled this story file based on year-round evergreen topics.. Investor Education seeks to provide you with the b
• Scams to Avoid
  SIX-FIGURE INCOME WORKING PART TIME AT HOME! NO EXPERIENCE REQUIRED. Sound too good to be true? It probably is.. SIX-FIGURE INCOME WORKING PART TIME AT HOME! NO EXPERIENCE REQUIRED. Sound too good to be true?  It probably is. There are unfortunately too many operators who exploit vulnerab
• More about Debt Financing
  Although banks and financial institutions may advertise how much they enjoy lending to small businesses, do not expect to qualify for a loan without a solid business plan and some track record of success. Small business loans from banks usually have at least a 50,000 minimum because the banks canno
• Equity vs. Debt
  In business-speak, there are two forms of financing: equity and debt. Equity investors buy a piece of ownership in your business.. In business-speak, there are two forms of financing: equity and debt. Equity investors buy a piece of ownership in your business. Technically, they ta
• Bookkeeping
  You are also well advised to keep your personal funds separate from your business funds. If you incorporate, your bank will require your business to have a separate business checking account.. You are also well advised to keep your personal funds separate from your business funds. If you inco
• 15 Useful Tips for Entrepreneurs
  1. Believe in yourself.. 1. Believe in yourself. If you don’t, your customers won’t either. 2. Set clear goals. If you don’t know where you are going, you will never get there. 3. Practice your elevator pitch. That’s the 30-second description of your business that you can use to let someone know who
• Setting up Direct Deposit
  Direct deposit is when you choose to have payments due to you directly deposited into your bank account instead of having a paper check, money order or cash mailed to you at your workplace or home. Types of payments that you can have directly deposited into your bank account include: Paychecks Tax r
• Looking Ahead
  Once you have succeeded in getting your finances back on track, improve your chances of not falling back into financial difficulty by taking these preventive measures Figure out your “triggers. An important first step to regaining control of your financial. Once you have succeeded i
• Welcome to Tomorrow's Money
  Wouldn't it be nice to look forward to the future confident about your finances? The truth is that most women aren’t. In fact, three-quarters of all American women are worried about their financial future but not sure about what to do about it.. ok forward to the future confident about your fina
• Buying a Real-Estate Owned (REO) Property Owned by a Lender
  In certain cases a foreclosed property may not be sold at auction. There are several reasons a foreclosed property may not be sold at auction including if the lender accepts the deed to the home “in lieu of foreclosure” from. In certain cases a foreclosed property may not be sold at auction. There ar
• Your Relationship and Common Law Marriage
  There is some misconception that any unmarried couple who lives together (co habitates” for seven years or more is recognized by the court system as a common law couple which would mean that you are a legally married couple even. There is some misconception that any unmarried cou
• I'm fearful of looking for outside help...
  You're wise to be wary. When looking for outside help in planning your finances, you'll want to do your homework.. hen looking for outside help in planning your finances, you'll want to do your homework. Many resources are free – online services, the staff at your local bank or credit union, and nonprofit counseli
• It's too overwhelming to figure out.
  Let's take it one step at a time. What are you saving for? Chances are you already know the answer to that question, you may have just never put it down on paper.. a time. What are you saving for? Chances are you already know the answer to that question, you may have just never put it down on paper. Here's an ea
• I could never be an investor.
  FALSE.   You already are an investor even if you do not yet own a single . FALSE. You already are an investor even if you do not yet own a single stock , bond or mutual fund . If you’ve ever spent time on raising kids, learning to cook, or improving
• Banks Change Overdraft Policies
  The Federal Reserve has announced that as of July 1, 2010 banks will have to get their customers’ consent before charging them overdraft fees on their ATM and/or debit card transactions. Specifically banks will have to notify all new and existing customers about how they handle situations when an ac
• A New Family Budget and New Financial Decisions
  In many ways, your newborn’s arrival is just the beginning. In addition to all of your child-rearing duties there are important financial decisions to make and action steps to take as well.. n’s arrival is just the beginning. In addition to all of your child-rearing duties there are important financial decisions to
• Living on Less: What to Do When Your Pay is Cut
  Every day workers of all types, across all industries, get the bad news from their boss that their pay is going to be cut. Whether it’s because your company is going through a tough financial stretch, or because the economy at large is making it impossible for your employer to make payroll, or becau
• How Unemployment Benefits are Calculated and What Happens When They Run Out
  When you lose a job you may be eligible for temporary unemployment benefits which can help you bridge the uncertain – and often financially worrisome period – between jobs. If you qualify, unemployment benefits will provide you with a percentage of your take-home pay for a specified period of time,
• New Initiatives Aimed at Helping You Save More for Retirement
  The federal government is making changes to help you save and invest for your post-work future. The new rules are designed to help Americans save for retirement by making it more “automatic” – by having workers automatically enrolled in 401(k) or SIMPLE IRA retirement savings plans, having tax refun
• Managing Maternity/Paternity Leave
  You may need, or want to, take leave before the baby is born – due to medical or other reasons, and you will certainly want to take at least some time off after delivering your child. You’ll want to check with your employer to learn about their maternity/paternity leave program.. take leave before the ba
• After you've left your job there are a few important steps to take
  Open an IRA. Even if you don't have any accumulated retirement savings through your previous job, open an IRA to begin banking some savings through small or moderate lifestyle changes. . Open an IRA. Even if you don't have any accumulated retirement savings thro
• Car Financing
  If you’re thinking about buying a car, it’s obvious to say, you will need money to buy it. Either you already have the money and can pay out-of-pocket or you will need to borrow money to finance the purchase.. buying a car, it’s obvious to say, you will need money to buy it. Either you already have the money
• How Much Interest Will You Pay?
  DOES YOUR credit card balance keep inching upward? Then before you charge one more thing, you should assess the cost of that debt. A balance of just 5,000 at 15% will cost you 421 in interest if you manage to pay it off within a year..
• Banking and Saving
  Banking and savings are two basic building blocks of personal financial planning. Saving money is fundamental to creating the resources necessary to invest for your financial future.. Banking and savings are two basic building blocks of personal financial planning. Saving money is fu
• Additional Assistance
  If you have questions about the EITC, contact the IRS office in your area (look under "Federal Government" in the blue pages section of your phone book) If you have an emergency that is causing a personal financial hardship, you can call the Taxpayer Advocate Service in Kansas City at 816-926-2493.
• Welcome to Tomorrow's Money for Young Adults
  What do you want out of life?  Almost any goals you have—start a job, rent an apartment or buy a home, buy a car, get married, have a family, be more financially independent and secure…The common denominator of nearly all life goals is that they require money. Every day you interact with money. You s
• Writing a Check
  Checks provide a convenient way for you to make purchases and pay bills. When you open a checking account you will order checks.. Checks provide a convenient way for you to make purchases and pay bills. When you open a checking account you will order checks. Your check will proba
• Should You Borrow from Your 401(k) or 403(b)?
  These days more than 85% of workers with 401(k)s can borrow money from their retirement plans. And a growing portion of 403(b) plan participants can too.. These days more than 85% of workers with 401(k)s can borrow money from their retirement plans. And a growing portion of 403(b
• Bonds are boring and too hard to understand.
  FALSE. You can learn more about bonds.. FALSE. You can learn more about bonds. Bonds pay interest at the coupon interest rate and, because their values usually do not change all that much, they add stability to your overall investment portfolio. High quality, inves
• Home-Buying 101
  Owning a home. It's the American dream.. Owning a home. It's the American dream. But maybe you feel like that's all it will ever be - a dream. The good news is that with some time, and a little work, you may very well be able to turn that dream into reality. Buying a home is not a one-time
• Ways to Avoid Becoming a Victim of Elder Financial Abuse
  What is elder financial abuse? Simply put, it’s a crime. It is when someone – an individual, company or organization – wrongfully takes a senior citizen’s money, property or other financial resources.. What is elder financial abuse?  Simply put, it’s a crime. It is when someone
• 13 Things Your Family Can Do Today
  All parents want their children to grow up knowing how to responsibly handle money – how to earn money, how to most wisely spend it, and how to invest it well for future needs. But how does that happen?  Here are 13 things that every family can do together to take control of your finances to reach im
• Empowering Them to Move Forward
  Taking charge of their personal financial life is a significant, positive step for the person you’re helping. Be mindful to affirm his or her successes, to celebrate accomplishments, and to encourage him or her as they pursue developing new skills and healthy lifestyles.. Taking charge of their pe
• In Your 50s
  What should you do now to ensure that your quickly-approaching retirement is an event you look forward to with confidence rather than anticipate with fear? In addition to building on the steps outlined for your 20s, 30s, and 40s there are specific actions you can take now to build a more secure fina
• Financial Topics in Difficult Times
  When Debt Is Overwhelming You: Difficult Financial Decisions for Difficult Times Today a rapidly increasing number of people find themselves having to stretch their incomes and take on larger amounts of debt to afford everyday expenses and fixed expenses like affordable housing and health insurance.
• IOUs Issued by the State of California
  In June of 2009 California Governor Arnold Schwarzenegger announced that the state had a 26 billion deficit and, until the budgetary issues are resolved through the state legislature, it will not be able to pay all of its bills or honor all of its financial commitments. Strapped for cash, the state
• I am not sure how to help someone who is in financial trouble and is looking to me for assistance.
  Every day people find themselves facing sudden, unexpected or unwanted life changes that affect their ability to earn money, pay bills, and make choices to keep life working for themselves and their families. Young people, college graduates, seniors, single parents, middle-aged workers – none of us
• Glossary of Terms
  A Accrued Interest . A Accrued Interest Age As
• Closing Costs
  Costs associated with buying a home in addition to the down payment such as an application fee, credit report fee, appraisal fee, house inspection and processing fees.. ing a home in addition to the down payment such as an application fee, credit report fee, appraisal fee, house inspection and processing fees.
• Where to Find Work
  Depending on how long you’ve been out of the workforce you may find that things have changed significantly in your prior industry. Before you begin sending out resumes take some time to read up on the industries you’re considering re-entering.. Depending on how long you’ve been out of the workf
• Will I get the same interest rate everywhere I go?
  No. Banks and financial institutions set their own interest rates.. No. Banks and financial institutions set their own interest rates. Car dealerships, check cashing stores, department stores, credit unions…the interest rates they offer for purchases vary. It's important that you compare inte
• Can I afford to stay in my current home?
  You can do a little math to figure out how your current monthly mortgage compares to your current income. If you're not sure what your monthly mortgage is (perhaps you're not the one who pays the bills) it's a good idea to contact the bank that holds your mortgage to find out.. You can do a little math
• How will I know who is right for me?
  The bottom line is that you want to work with a financial professional that is competent; is in compliance with all laws regulating their industry; is someone that you "click" with; and is someone you can afford. First, professional competence.. The bottom line is that y
• How to Approach Talking About Money
  Talking “money” is a big thing. Instead of trying to tackle the entire discussion at once, view it as a long-term, ongoing process.. Talking “money” is a big thing. Instead of trying to tackle the entire discussion at once, view it as a long-term, ongoing process. Begin the
• Tips for Maintaining Specialty Insurance Coverage
• Tips for Maintaining Specialty Insurance Coverage
  As with any insurance, once you have obtained coverage it’s important that you do everything you need to in order to maintain coverage. Here are some tips to do so: Whether you are purchasing an annual policy or a single-time/one-use policy (i.. As with any insurance, on
• Working with Financial Professionals and Counselors
  It isn’t always obvious from the outside exactly what someone in financial difficulty needs to do. If you do not know what steps someone should take, don’t try to become a professional financial advisor.. It isn’t always obvious from the outside exactly what someone in financial
• Budgeting and Reducing Variable Expenses
  Budgeting is an important financial discipline to help plan spending, and create and invest savings. Encourage the person you are helping to . Budgeting is an important financial discipline to help plan spending, and c
• Ways to Afford, and Pay for, Your Home Heating Bill this Winter
  If the rise in home heating prices is really more than your budget can absorb, there are resources to help you. The Low Income Home Energy Assistance Program (LIHEAP) is a government-funded and run program to help eligible low-income families meet their home heating needs.. If the rise in home heati
• When Income Exceeds Expenses
  Congratulations! You have savings potential. Are you currently saving money or are you spending your excess? If you aren’t currently saving money, the good news is that you have the most important thing to become a saver - -money! Instead of thinking about your excess income as money to play with (a..
• Steps to Take in Your 30s and 40s
  At this stage of your life you have probably settled into a career and have a few thoughts about where you would like to be personally, professionally and financially in your future. This is also a stage where you may begin making some significant choices and investments such as returning to school
• Decisions to Consider Making
  As you become more comfortable talking about financial issues, sharing thoughts, opinions, plans and paperwork you should start working through some important decisions. Areas to talk about include: Goal-Setting.. As you become more comfortable talking about finan
• Starting Out in Your 20s
  When you’re just entering the workforce it’s a great time to develop some financial disciplines that will become financially-rewarding habits for your future such as: Establishing some short- medium- and long-term financial and life goals Creating, and sticking to, a realistic budget Keeping a tight
• Your Home as a Source of Retirement Funds
  If you own your home you may have another option for creating a stream of income during retirement: a reverse mortgage. A reverse mortgage is a financial tool that allows you to tap into the equity you have built up in your home to help with one-time or everyday living expenses once you reach the ag
• Concerns About Fraudulent Activity
  If you have concerns or complaints about your broker or financial advisor – specifically if you suspect that he/she is involved in fraudulent activity affecting your investment funds - there are agencies and organizations that can investigate your case and provide potential assistance: You can conta
• Mortgage Loans
  The housing market’s decline has triggered the bankruptcy of several banks and mortgage lenders. If the bank or mortgage lender that currently holds your loan files for bankruptcy, it will first sell or transfer your mortgage to another firm.. The housing market’s decline has triggered the ban
• Your Savings and Investments in Turbulent Financial Times
  Tomorrowsmoney.org visitors are asking “what might recent events mean for my savings and investments? This article addresses concerns about some of the most common areas of concern for people who have saved and/or invested money, including: Money Deposited in Bank Accounts Money Deposited in Credit
• Investing is just another word for saving.
  FALSE. Both saving and investing are about putting money aside rather than spending it, but with two different goals.. FALSE. Both saving and investing are about putting money aside rather than spending it, but with two different goals. The goal of saving is to be sure
• Debt Investments - Bonds
  A bond is a loan you make to an institution. Governments, municipalities and corporations raise money by issuing bonds.. A bond is a loan you make to an institution. Governments, municipalities and corporations raise money by issuing bonds. A bond is like an IOU – you, as an investor, loan an or
• Coupon interest rate
  Coupon interest rate : The interest rate on a bond is stated as an annual percentage of the amount borrowed or lent, paid by the lender to the borrower. A 10,000 bond paying 4% interest would provide income of 400 per year, or 200 twice a year if the payments are semi-annual. The interest rate is
• Deposit accounts
  Deposit accounts at banks and credit unions allow you to put money in and take it out—by writing a check, using an ATM card or making a withdrawal—whenever you want. Some accounts pay interest but may require you to maintain a minimum balance to avoid fees..
• What Should I Do Once I Begin Investing?
  You should periodically evaluate how your investments are performing-at least once a year or when you experience a significant life change (i.e.. You should periodically evaluate how your investments are performing-at least once a year or when you experience a significant life change (i.e. get m
• Setting Goals
  List your goals and then decide how long a period you have before you want to achieve the financial ability to meet this goal. For example, if you want to buy a home and you want to invest your savings to create a significant down payment amount, when would you want to become a homeowner?  If you wan
• What to do when Downsizing?
  Most people cite "being able to stay in my home" as one of their top financial priorities. If your finances are tight, you might want to do a little math to figure out how your current monthly mortgage compares to your current income.. Most people cite "being able to stay in my home" a
• Check Your Progress and Readjust as Necessary
  When Seth left his job at a graphic design firm to work as a freelance graphic artist he loved the flexibility that self-employment offered and the idea that he could be his own boss. He also enjoyed being able to set his own schedule and take on jobs that really interested him..
• Financial “Things to Do” Before the Year’s End
  With the holiday season officially underway it can be easy to spend most of your “financial thinking” on all of the holiday gift-giving, traveling and entertaining you will, or would like to be able to, do. But there are five simple things that you may want to consider doing to tie up some financial
• I dread making a budget....
  Welcome to the club. It's unlikely that many people like the idea of budgeting.. Welcome to the club. It's unlikely that many people like the idea of budgeting. What's important is realizing that a budget is just a means to an end. It doesn't have to be elaborate or time-consuming
• I don't have enough time to figure this all out.
  Do you have 30 minutes? Then you can start implementing a personal saving and investing plan. One of the biggest barriers to saving and investing, for many people, is the lack of time.. Do you have 30 minutes? Then you can start implementing a personal saving and investing plan. One of
• Housing Benefits
  One of the most popular military benefits is the ability to apply for a VA Guaranteed Home Loan. VA Guaranteed Home Loans are home loans – mortgages - made by private lenders (banks, credit unions, etc.. One of the most popular military benefits is the ability to apply for a VA
• Making it a Home
  You have finished the hunt for a new home, signed the papers and moved in. Now what?  How can you begin to really make this new place a welcome home for you and your family?  Home Safety Owning your own home means that you are now financially and legally responsible for what happens to people while th
• Budgeting for Healthcare Costs
  Budgeting for future healthcare costs is important so that you’re not caught off guard by unexpected bills, forcing you to put them on a credit card or dip into savings. When thinking about and planning for future healthcare costs think through potential future needs including: Co-payments for docto
• Four Year Colleges and Universities
  Four-year colleges and universities offer Bachelor degree programs and typically offer some graduate programs as well. Four-year colleges are considered more prestigious than community, junior and vocational colleges; offer a wider variety of classes and degree programs and generally attract more te
• Ways to Invest and Grow Your Savings for College Tuition
  It’s not enough to want to help your child afford college you need to have a plan to make it actually happen. However, putting money into a savings account at your bank or credit union won't earn enough interest to foot the bill.. It’s not enough to want to help your child afford
• Ways to Save for College
  Once you choose to make saving for a child’s college education a financial priority for your family the next step is creating a plan to make it actually happen. Here are a few tips to find and begin carving out savings: Examine your budget.. Once you choose to make s
• Get Started Today!
  Start your new year off on the right foot. Tackle your credit card debt with a simple plan and get a game plan together to spend less, and enjoy the holidays more, come next January! For a practical budget worksheet and tips to making a budget work for you in the New Year, click here .
• Concerns about Fraudulent Activity
  If you have concerns or complaints about your broker or financial advisor – specifically if you suspect that he/she is involved in fraudulent activity affecting your investment funds - there are agencies and organizations that can investigate your case and provide potential assistance: You can conta
• Online Wallets
  Online wallets work “virtually” the same way the wallet in your pocket works. Instead of going to your bank’s ATM, withdrawing cash and putting it into your physical wallet, with an online wallet you open a free account, go to an online bank and transfer money into the wallet to make online purchase
• Wiring Money Abroad
  Wiring money abroad is essentially electronically transferring money from your account to your recipient’s bank account. You pay cash or use an Electronic Funds Transfer (EFT) to wire money to the recipient.. Wiring money abroad is essentially electronically transferring money from y
• The Financial Effects of Divorce
  In most cases blended families arise from at least one, and usually both, spouses being previously divorced and remarrying after living as single parents. Divorce creates financial hardship for both spouses, but most glaringly for the wife/now-single mother.. In most cases blended fam
• Ways to Think about Financing Your Children’s College Education
  It can be intimidating to look at the total cost of four years of college. But the mental “thinking trap” that you might be getting into is looking at the number and thinking of it as a one-time lump sum payment.. It can be intimidating to look at the total cost of four years of college. 
• Financial Pressures and Your Health
  Stress is an accumulation of mental and physical tension. Stress can: distract your mental focus drain your energy impair your immune system and increase susceptibility to illness or disease create real physical reactions such as heart palpitations, panic attacks, nausea, headaches and sleepiness ca
• 10 Things Every Public Worker Should Do
  Read your benefits package carefully and attend any new employee orientation meetings or review resources through your organization’s internal website. Make sure you know the deadline for selecting or signing-up for benefits and when the next open enrollment period is. Talk with someone in your HR d
• Questions to Ask Before Obtaining a Debit Card
  Is there an annual fee for using the card? What account is this card linked to? You want to know which account the card will deduct money from when making purchases or payments – i.e.. Is there an annual fee for using the card? What account is this card linked
• Available cash and investments
  Talk with your financial advisor, or get help from financial advisors through asking your bank or credit union. What do you have available now and in the future.. Talk with your financial advisor, or get help from financial advisors through asking your bank or credit union. What do you h
• Shared Housing
  This arrangement, also known as "home sharing, is when two or more people agree to share a house or apartment as well as all housing responsibilities and expenses. If you are single, divorced or widowed, think about whether or not you have a close friend(s) or family members with whom you would feel
• Starting Your Marriage Off on the Right Financial Foot
  Planning to get married is an exciting time. But it also involves making a lot of decisions – where to get married and when, who to choose for the wedding parties, which cake and invitations…the list of choices and things to discuss with your significant other can seem endless..
• Single Women Managing Money
  For the first time in American history more women are single than married. Single women are earning more money than ever before, are making more financially-related decisions than ever before and yet most single women still do not feel adequate or empowered to successfully navigate their own financi
• Buying a Computer
  You probably can’t imagine not having a computer. It’s your lifeline – your way to keep connected, keep in the loop, and keep current.. You probably can’t imagine not having a computer. It’s your lifeline – your way to keep connected, keep in the loop, and keep current. Maybe up until
• Stepping Up Your Savings I.Q.
  Looking for a good beach read? Okay, so maybe flipping through a mutual fund prospectus isn't your idea of scintillating summer read. But wouldn't it be a good idea to know how to manage the money you already have? Or maybe learn how to take the first step to saving? Start small..
• Mortgage Loans
  The 2007 – 2008 housing market decline triggered the bankruptcy of several banks and mortgage lenders. If the bank or mortgage lender that currently holds your loan files for bankruptcy, it will first sell or transfer your mortgage to another firm.. The 2007 – 2008 housing market decline triggered t
• Fees, Limits and Exchange Rates
  Sending money abroad is a financial transaction. As with any financial transaction you’ll want to know in detail, upfront, what fees you will have to pay for the service and what limits or conditions there are on the transaction.. Sending money abroad is a financial transaction. A
• Travel Agencies
  A few travel agencies offer informal remittance services. These agencies will probably charge higher fees and exchange rates than a bank or credit union.. A few travel agencies offer informal remittance services. These agencies will probably charge higher fees and exchange rates
• If You Choose to Use a Check Cashing Store
  While it makes more sense financially to cash checks and send money abroad through an established financial institution (such as a bank, credit union or savings and loan) there may be times when you choose to use a check cashing store. If you do, at least make sure you know what you’re paying for th
• The High Cost of “Convenience” Charged by Check-Cashing Stores
  Check-cashing stores are known for charging high fees to cash checks. The fees vary greatly.. Check-cashing stores are known for charging high fees to cash checks. The fees vary greatly. Stores will either list fees as a percentage of the amount of the check being cashed or a flat dollar amoun
• Where to Purchase a Computer
  There are a few places that you can purchase a computer – directly from a computer manufacturer (i.e.. There are a few places that you can purchase a computer – directly from a computer manufacturer (i.e. Dell) through mail-order and online computer outlets (i.e. CDW.com) a “big box” computer superstor
• Questions to Ask About Calling Plans
  When evaluating potential calling plans ask the following questions: What are the peak and non-peak times? What are the set rates for calls within my home calling area during peak times?  Non-peak times? What is the “per minute rate” for roaming” or non-local calls during peak times?  Non-peak times?
• What Payday Loan Companies Offer
  Payday loan companies are businesses that will "advance" you money on your paycheck. In other words, they will loan you money in advance of your actually receiving your paycheck from your employer…but there is a price.. Payday loan companies are businesses that will "ad
• Considering Chapter 13 Bankruptcy
  Filing for Chapter 13 personal bankruptcy is called “debt reorganization. Under Chapter 13 you will be required to pay back a portion of your debt according to your ability to pay over a 3-5 year monthly payment plan.. Filing for Chapter 13 personal bankruptcy is called “debt reorganization. U
• Trying to Keep Your Home – How the Homestead Exemption Works in a Chapter 7 Bankruptcy
  One of most people’s concerns is being able to keep their home. It’s important to know that a Chapter 7 bankruptcy DOES NOT MEAN YOU WILL AUTOMATICALLY BE ABLE TO KEEP YOUR HOME.. One of most people’s concerns is being able to keep their home. It’s important to know that a Chapte
• Questions to Ask When Seeking Professional Help with Debt
  By the time you get to the point where you may consider getting professional help you may feel overwhelmed and unable to even begin sorting through stacks of bills that are piling up. Remember that getting the help you need and getting out of serious debt is something that happens one step at a time..
• If You Have Left, or are Contemplating Leaving, School
  Sue had always struggled in school but she wanted to try earning a college degree at a small nearby university. She was nervous about the workload and how much money it would take to finance her education.. Sue had always struggled in school but she wanted to try earning a college
• What Creditors Can’t Ask or Do
  When you apply for credit, a creditor may not: Ask about or consider your sex, race, ethnicity, national origin or religion Ask about your marital status or your spouse, unless you are applying for a joint account or relying on your spouse's income, or you live in a community property state (Arizona,.
• Private Loans
  Your bank or credit union very likely offers loans that you could take out to help pay for your children’s education. Check to see what interest rate would be compared to your child applying for a federal student loan (such as a Federal Perkins or Stafford loan). Your bank or credit union
• Spending and Saving Decisions
  As you work through your financial goals and priorities it will become easier to reach agreement about how you will spend and save money. It seems obvious but the only way to save money is to find ways to not spend all the money you’re bringing in.. As you work through your financial goals and prior
• Preteens or ”Tweens”
  As children reach their preteen or “tween” years they need to begin taking greater responsibility for their spending and saving choices. Show your children your family’s budget and then help your child create his/her own personal budget Consider having your child sit down with you on a monthly basis
• Paperwork to Get Together
  As you begin talking and making decisions about your finances you should begin to get some of your financial paperwork together including: copies of your most recent income taxes your checkbook bank account statements most recent credit card statements insurance policies copy of your will (if you ha
• Can I charge my tax bill?
  Yes. The IRS accepts American Express® Discover® MasterCard® and Visa®. Yes. The IRS accepts American Express® Discover® MasterCard® and Visa® However, think twice before pulling out the plastic. Financing a steep tax bill at a high interest rate charged by your credit ca
• Scams to Avoid
  SIX-FIGURE INCOME WORKING PART TIME AT HOME! NO EXPERIENCE REQUIRED. Sound too good to be true? It probably is.. SIX-FIGURE INCOME WORKING PART TIME AT HOME! NO EXPERIENCE REQUIRED. Sound too good to be true?  It probably is. There are unfortunately too many operators who exploit vulnerab
• Bookkeeping
  You are also well advised to keep your personal funds separate from your business funds. If you incorporate, your bank will require your business to have a separate business checking account.. You are also well advised to keep your personal funds separate from your business funds. If you inco
• More about Debt Financing
  Although banks and financial institutions may advertise how much they enjoy lending to small businesses, do not expect to qualify for a loan without a solid business plan and some track record of success. Small business loans from banks usually have at least a 50,000 minimum because the banks canno
• Equity vs. Debt
  In business-speak, there are two forms of financing: equity and debt. Equity investors buy a piece of ownership in your business.. In business-speak, there are two forms of financing: equity and debt. Equity investors buy a piece of ownership in your business. Technically, they ta
• What to Do When It Becomes Difficult to Pay Your Mortgage
  Change happens. When you bought your home you may have budgeted carefully and never anticipated having difficulty making your mortgage payment.. Change happens. When you bought your home you may have budgeted carefully and never anticipated having difficulty making your mortgage payment. But ma
• What's New
  This section will list new articles, features and tools to the Tomorrowsmoney.org suite of sites as they are posted. Refer back to this section regularly to see what new information we have to share to help your audiences gain control over their personal financial planning to create a more financial
• Refinancing Your Mortgage as an Option to Hold onto Your Home
  For many homeowners who obtained an adjustable rate mortgage over the past few years to buy a home, both time and the economy have not been on their side. Millions of homeowners holding adjustable-rate mortgages are trying to determine if they can refinance their current home loan to be able to affo
• To Rent or to Buy?
  THINGS BEING EQUAL it's almost always better to own your home rather than to rent. After all, you build equity and get to write off your mortgage interest.. THINGS BEING EQUAL it's almost always better to own your home rather than to rent. After all, you bu
• FDIC Bank Deposit Insurance – What It Is and What You Should Know
  With the recent news of a handful of banks failing people are increasingly concerned about the safety of their bank deposits. How can you know if your money is safe when you deposit it into a bank and if your bank does fail, how much of your money does the FDIC insure? The FDIC (Federal Deposit Insu
• Selecting a Lender
  Congratulations. You invested some real time last month to educate yourself about the not-so-simple-to-understand mortgage.. Congratulations. You invested some real time last month to educate yourself about the not-so-simple-to-understand mortgage. Now that you know the basics about what a mortgage
• Reverse Mortgages
  If you are 62 or older and own your home you have access to a special type of financing that can help you turn your greatest asset – your home – into supplemental income, enabling you to meet your other financial obligations and reach important life goals. A reverse mortgage is a financial tool that
• What to Do When the Deployment is Extended
  Imagine learning that your spouse has 24 hours to report for duty and be deployed for combat. Now imagine that the day before the scheduled homecoming, you are notified that he/she won't be coming home for another 12-15 months.. Imagine learning that your spouse has 24 hours to report for duty and be de
• Filing an Amended Tax Return
  Even if you double checked all your numbers and reviewed every line of your completed federal tax return, it is possible to inadvertently make a mistake. Maybe you forgot about some income you had earned when you received a W. Even if you double-checked all your numbers and reviewed every line of your
• The Risks of Not Saving & Investing
  There are four major risks of not saving adequately for your future needs and goals: The likelihood of Social Security benefits not providing adequate money for a long-term, post-retirement lifestyle That your life expectancy will outpace your savings The possibility of a major unexpected life or ec
• Your First Car
  Nothing spells freedom like having your own car, right?  If you’re thinking about buying a car, take some time to think through your needs and get educated on what’s involved in buying a car so you’re not the one being taken for a ride. It can be intoxicating to walk onto a new car lot – all that hor
• Ending the Year on the Right Foot
  Only a couple more weeks before we ring in the New Year. But there's still time to make a few decisions that will minimize your taxes for this year and help you start out on the right foot financially next year.. Only a couple more weeks before we ring in the New Year. But there's still
• The Risks of Not Saving
  There are four major risks of not saving adequately for your future needs and goals: The impact of inflation on your savings The likelihood of Social Security benefits not providing adequate money for a long-term, post-retirement lifestyle That your life expectancy will outpace your savings The poss
• Common Financial Myths Single Women May Believe
  Most women heard or sensed certain negative messages about money growing up such as: men should or will earn more money than women; men are better in math and therefore in understanding how to work with money than women; a woman’s income will most likely as be a “second income” within a family’s fin
• Scholarship Information and Sources
  Many returning adult students may not think that scholarships are available for them. The good news is that as the number of adult students returning to earn, or complete a degree, is increasing so is the number of scholarship opportunities.. Many returning adult students may not think that s
• Refinancing
  When you buy a home you obtain a mortgage, also called a purchase loan by mortgage professionals. It’s simply a loan to purchase a home.. When you buy a home you obtain a mortgage, also called a purchase loan by mortgage professionals. It’s simply a loan to purchase a home. The bank or f
• Asset Allocation
  Asset allocation is the foundation of most investment plans. It tells you how much of your money you want to have invested in different kinds of investments or assets (sometimes called “asset classes”stocks, bonds, cash [click through to definitions in step two] are the main ones—based on how much t
• Set a Course for Where You Want to Go
  Once you have evaluated where you are financially – what income, savings, expenses and debt you have – you are now able to begin setting a course for where you want to go financially in the future, and take steps in that direction. Following are a few tips for thinking about your financial goals: Ac
• Help If You are Concerned about Being Able to Pay Your Mortgage
  If you own your own home but still have a monthly mortgage payment that is probably one of your highest financial priorities. If you find yourself in a situation where your finances are so tight or that you have such quickly mounting debt that you are having difficulty making your mortgage payment i
• Moving Day
  The big day is almost here. Moving day.. The big day is almost here. Moving day. Before you get to enjoy the excitement of moving into your new home, you’ve got to make it through the tedium and trial of actually boxing up and moving all your possessions. Having your tools and materials rea
• Making Home Improvements
  Whether you have purchased a real “fixer-upper” or you are considering modest “cosmetic” changes, making home improvements can be a way to make your home better fit your family, lifestyle and/or financial goals when re-selling. Deciding on Improvements and Setting Your Budget Making home improvement
• Closing on a Loan
  Closing, sometimes called “going to settlement, on a home is like the part of the wedding ceremony where the bride and groom exchange vows. It’s where you and the seller seal the deal! Closing on a home loan is when you sign all the papers transferring ownership of the property from the seller to th
• Comparing Mortgage Costs
  There are several costs associated with borrowing money to buy a home including the interest rate you’ll be charged to borrow the principal (loan amount) points, mortgage insurance closing costs and the down payment. Interest Rate One of the most important pieces of information you need from a lende
• Mortgage Center: Frequently Asked Questions
  What is an ARM? An ARM is an acronym for "adjustable rate mortgage. That refers to a home loan where the interest rate charged on the amount of money you're borrowing to purchase the home adjusts, or changes, over time as the government raises or lowers the rate of interest that banks charge each ot
• Managing Your Income During Retirement
  In retirement, perhaps more than any other time in life, you will need to take control of your personal finances.  If you are fully retired (meaning that you are not doing any type of paying work) you will not have a consistent income stream from work or employer-based benefits.. re than any other time in
• Catching Up on Retirement Savings If You Start Late
  Bob’s budget was tight when he first began working but he put a little bit aside each paycheck into his employer’s 401(k) He figured it was a good way to save some money on taxes if nothing else.. en he first began working but he put a little bit aside each paycheck into his employer’s 401(k) He
• Types of 529 Plans
  529 plans got their names from the section of the IRS tax code (section 529) which helped create this way of investing savings for college costs. There are two types of 529 plans: Prepaid Tuition Plans and Savings Plans.. 529 plans got their names from the section of the IRS tax code (section 529
• Start Out Smart! 7 Money Moves to Make Now
  Congratulations – you have a job! Your first full or part-time job can be exciting, overwhelming and scary…all at the same time. The biggest benefit is of course having a real paycheck! Before you run out and spend that entire first paycheck, there are a few wise financial “first moves” you should c
• Managing Your Grocery Bill When Food Prices Rise
  Climbing grocery prices have caused millions of Americans to reconsider purchases. Unfortunately, according to the US Department of Labor, food inflation is expected to continue.. Climbing grocery prices have caused millions of Americans to reconsider purchases. Unfortunately, ac
• Parents Dealing with their Single Adult Child’s Deployment
  Most often deployment information and support is directed to the servicemember’s spouse. But what about the single servicemember?  What happens when he/she is deployed?  After being out of the family home and living on his or her own, suddenly he or she needs family members to help with the paperwork
• What Every Homebuyer Needs to Know Before Agreeing to a Mortgage
  Are you or a loved one considering becoming a homeowner? Taking on a mortgage loan to purchase a home can be an intimidating and confusing process. A Federal Reserve study for the Federal Trade Commission found that a significant percentage of homebuyers did not understand key features and costs of
• A Basic Computer System Overview
  If you have never purchased a computer before, the jargon can get confusing and the choices can get overwhelming. Most computer systems that you will probably consider will include basic hardware, an operating system, and software.. If you have never purchased a computer before, the
• Finding Free or Low-Cost Training to Boost Your Employability
  If you are currently out of work and looking for a job, or if you are currently employed but would like to find a different job that perhaps offers better pay and benefits, you may need to learn new skills to become a more attractive job candidate for a prospective employer. However you may not have
• What Happens to Homeowners Holding Interest-Only Mortgages When Interest Rates Rise
  Starting in early  2001 millions of Americans took advantage of record low interest rates and bought a home. But the down side of that good news is that while interest rates were at record lows, housing prices soared to record highs.. Starting in early 2001 millions of Americans took