Personal Finance

Should you be in a Hurry to pay off Student Loan Debts?

While finishing college is a huge relief for people, there are other types of anxiety that start to set in once school is over with. Many graduates find themselves stressed out with the idea of finding a good job, which direction they should take their career in the future and most pressing for some is trying to come up with a way to pay off their huge student loans as quickly as possible. If you check out any type of social media site where former students sound off about their current issues, you’ll find hundreds of them posting about how worried they are that they won’t be able to pay off their student loan debt quickly. The Temptation to pay off Student Loans Immediately While no one likes the idea of paying off huge amounts of debt, graduates are usually very eager to whittle down their student loan debts almost as soon as they enter the full time work force. However, the temptation (some might…
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Personal Finance

Here is a Mobile Phone Service that is Saving People Lots of Money Every Month

There was a time, not all that long ago, when people only had to pay for a land line with regards to their telecommunications costs. It wasn’t too long before having a mobile phone became a necessity. And just a few years later, most people have smart phones and wouldn’t know how to get by without them. The new technology is great, but having to pay higher bills every month to get access to data, texting and talk minutes is no fun at all. This is especially true for folks who are trying to do their best to save a little money. Are you one of the millions of people who pay too much for their monthly cell phone bills? If you are, you can rest assured that there are lots of other people out there who are actively trying to find ways to cut back on their mobile phone bills every month. Think about this: The average monthly mobile phone bill from the popular…
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Personal Finance

Wells Fargo Launches Path to Good Credit Website

A recent Wells Fargo & Company survey unveiled some very interesting information. According to this study, 78 percent of people in America want to learn more about how to manage their money, and 53 percent of the people who responded wanted to learn specific information about credit. To help these people learn what they need to know, the company has announced that they are launching the Path to Good Credit. This initiative includes a series of interactive websites that give consumers important information about building credit and improving their credit scores. The Path to Good Credit allows people to take quizzes, view videos and learn from informative, tip-filled articles. The end result that the company hopes is to make people more knowledgeable about their credit reports and scores. According to Gary Korotzer, an executive with Wells Fargo’s Consumer Credit Solutions group, “Understanding how to manage credit is an important ingredient in economic self-sufficiency and success. We want to provide our customers with an informative and…
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Personal Finance

Should you pay off ALL your Debts?

There are some people who believe that paying off all of their old debts is the ultimate financial achievement. Imagine getting rid of all your responsibilities to pay your creditors every month. That has to feel pretty darn good, right? But what does it mean to pay off all your debts in full? Some people approach debt from the moral side of things. These folks believe that for a debt to truly be paid in full, it must be paid back to the organization that your originally borrowed from. This, however, is not always possible. If a debt goes to collections or if a lending institution sells your account, there is really no way to meet this lofty moral obligation. The other side of paying off your debts is paying them off completely; meaning that you don’t owe a penny to any creditor or a particular creditor as the case may be. Again, this is not always possible, either. Some people wind up negotiating with…
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Personal Finance

Is dining out ruining your Credit Score?

It’s always fun to go out to your favorite restaurant with co-workers to do a little bit of bonding. And who can argue about how picking up some take-out food is the easiest option on extremely busy days? Heck, even joining some friends for drinks out at the local restaurant can be a great way to relieve stress. All of this dining out, though, is sure to increase your spending every month – not to mention your overall caloric intake… Many people wind up in debt – and even stuck with bad credit scores – simply because they eat out a bit too much. It’s hard to curb this habit, though, as dining out has become a staple of modern day living. An article from Forbes that was published back in 2013 reported that Americans usually spend about one thousand dollars a year on eating out for lunch alone. To understand those numbers, it would mean eating out just twice a week and spending about…
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Personal Finance

New Credit Scoring Practices Provide Hope for Potential Borrowers

There are literally millions of people who fly under the radar of lending companies and banks, unable to secure loans because of conventional credit scoring practices. Some credit scoring companies, however, have come up with new methods of scoring credit that may make it possible for these folks to qualify for loans. This is big news that may prove to have small lending companies chomping at the bit to offer their services to this largely under-serviced sector of the population. One lending company, FactorTrust in Roswell, Georgia, stated that they have credit information on well over 10 million non-prime borrowers that the big credit bureaus don’t possess. This company even provides its own auto finance risk scores to potential customers. Another lender in Connecticut, VantageScore, uses the available information from the big three credit bureaus, and now provides a revitalized scoring method that allows them to provide credit score on roughly 35 million people who used to be “not scoreable” by conventional credit bureau tactics.…
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Personal Finance

How Women Can Achieve Financial Independence

In this day and age it is more important than ever for women to become financially independent. There is more than one way that women can achieve this financial independence. Here are some tips to help you gain this financial independence for yourself. The first thing you need to do ladies is take an active role in your family finances, if you have a family that is. Taking an active role in your family’s finances can show you where your money is going and help you to understand how your family finances work. Ladies most experts agree that you need to pay yourself first. What does this mean? It means before you pay your bills you need to make sure that you have enough money to last until you get paid again. Even if you can only make a partial payment on one or more of your bills you need to make sure you can make it until your next payday. Otherwise what are you…
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Personal Finance

Make Money Later In Life

There are times when people retire only to realize that they have not saved enough money for it. Other times they realize that they did save enough, but they simply miss working or being around people. Either reason some people find once they retire that they need something to do, making money is either out of necessity or it is a byproduct of what they chose to do to be around people. There are several ways in which someone could earn money once they are retired. One idea would be to grow treas. If a wooded area is purchased or already owned then you could make money selling firewood. They would be able to use the logs to heat their home as well. Cutting down trees and chopping them into logs can be hard work though. It is a lot of work for not a lot of return. This may not be the best way to make money once retired for many people. By the…
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Personal Finance

Create Your Budget

Creating a budget is an important thing. There are a lot of people who think that they do not need a budget, that they can keep track of everything in their head. Other think they should make one, but they do not have the time at the moment and put it off thinking that they will do it later. However, later often brings other distractions causing them to not get their budget created. Making a budget should be put at the top of your priority list. It is so very important to keep you on track financially. Budgeting forces you to look at your spending and decide whether or not where you are spending your money, and how much of it you are spending is a good idea or not. Many people live in the moment thinking about today only. They do not look into the future; if they did they would be able to see how glad they are that they saved money for…
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