Month: December 2019

Financial Planning: Preparing Your Finances Before Retirement

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It’s important to plan for your retirement financially to make your transition from having a career to happily retired. You need to start your process properly so it can be fulfilled when the time comes. People take their precious time for granted, not preparing your finances and themselves for the inevitability of retiring at some point in their lives.  So, you shouldn’t wait till the last second to plan something, it might be too late if you aren’t ready now. Speak to a financial advisor This is a great idea preparing your finances because when you’re still in your prime, you can’t know every factor involved in the process of being prepared for it. These professionals can help you plan … Read more

How Does Line of Credit Differ from Any Type of Loans

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There are instances wherein it is more practical to take out a loan rather than paying with a hefty sum of cash upfront, such as when purchasing a new home or buying a new car. It is in these instances wherein you need to venture out on the most suitable type of loan for your needs. You might even consider a line of credit, which is somehow different from the other types of loans. Line of Credit A line of credit is an account that allows borrowers to use up a certain sum of money within a particular limit set. Credit cards are the most common example of a system wherein credit cardholders are allowed to use up their cards … Read more

A Plan for Taking One Simple Step Now to Get Your Finances in Order

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The following is a guest post by Tony Steuer, an advocate for Financial Preparedness and the author of GET READY!, and the founder of the Get Ready Initiative. If you’d like to contribute a guest post to Money Q&A like this one about getting your finances in order or any other topic, be sure to check out our guest posting guidelines. You’ve resolved to get a handle on your finances in 2020, but will that determination wane by March? With over 80% of people failing to realize their New Year’s resolutions, it’s likely that you’ll become overwhelmed with checklists and budget-tracking within just a matter of months. That’s why I suggest taking one simple action item each month that will … Read more

Top 6 Surprising Assets You Can Sell to Supplement Your Income

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The paper that makes money might grow on trees, but the green stuff itself is a lot harder to come by. With bills to pay and debts to clear, it’s essential to have enough in the coffers to fund your lifestyle. Otherwise, things can get a little tricky, and that’s when your finances escalate out of control. But, you can supplement your income. All you need is to make a little extra money to supplement your income. With $50 to $100 per week in your back pocket, you’ll find it a lot easier to cover your expenses, whether they are predictable or unpredictable. Of course, working extra shifts and spending more time at the office isn’t preferable. You need a … Read more

Top 7 Surprising Things that Can Significantly Impact Your Credit Score

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Top 5 Times When Your Credit Score Matters The Most

Credit scoring models and factors that do/don’t influence your credit score are confusing concepts for many consumers, especially with recent changes to scoring practices (e.g., medical debt no longer factoring into credit scores). You probably already know of the major factors influencing your credit score – low credit utilization, on-time payment history, etc. – but what about the little-known factors that could also impact your credit score? Things That Impact Your Credit Score Let’s take a closer look at 7 surprising things that can affect your credit score for better or for worse. Paying Off a Major Loan A common reason why credit scores drop and impact your credit score involves the closure of an account, such as when you … Read more

Earnin Review – How to Get an Advance on Your Paycheck

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Did you know that consumers waste more than $34 billion per year on overdraft fees? This figure rivals Great Recession figures, though overdraft fees were cheaper back then (around $20 for banks and $15 for credit unions, compared to $30 for banks and $28 for credit unions nowadays). Since there is no benefit to paying overdraft fees – they’re just penalties for folks who overdrew their accounts to pay the bills before their next paycheck rolls around – it’s alarming to think about how much money individuals and families living paycheck to paycheck might be losing to overdraft fees each year. While most people would like to keep enough cash on hand to cover their bills, unexpected expenses crop up … Read more