Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications about investing, retirement planning, and even how to find the best return on investment. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]MoneyQandA.com. Hank has written over 750 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman. Subscribe To Money Q&A If you want to learn more about taking back control of your money please subscribe to Money Q&A’s RSS feed or via email to receive all the latest articles! You can also subscribe to our Free Weekly Newsletter.

Why Now Is the Time to Start Saving for Next Christmas

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Christmas Gifts For Children That Keep On Giving

Are you still reeling from your credit card bill after buying Christmas presents? You’re not alone. Many Americans continue to put holiday spending on credit cards despite the warning signs of building consumer debt. But, you need to be saving for Christmas again already! According to the National Retail Federation, holiday retail sales increased 3.8% to $601.8 billion. More than $42 billion was spent online, a 10% increase in last year. We give generously to our friends and family members each holiday season. That’s fine until you reach for your credit cards to give the gifts and spend months paying the balances off. Far too many people give from their heart even when their wallet can’t afford it. Don’t make … Read more

Understanding the Difference Between Prequalification and Preapproval

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Understanding Prequalification and Preapproval for Mortgages

People can confuse prequalification vs. preapproval for mortgages when they are applying for a loan. However, there are noted differences. For example, to become prequalified, you must give a loan officer income and debt information to determine the loan amount you can manage. Preapproval, on the other hand, requires more information gathering and checking on the part of the lender. In other words, the lender must compile your credit report data as well as determine your debt to income ratio. Preapproval makes it easier for you to shop for real estate as you do not waste your time looking at homes you couldn’t possibly afford. Not only is your credit history important when you are becoming preapproved so is the amount … Read more

BusyKid Smartphone App Review – Tracking Chores and Teaching Kids About Money

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A lot of young adults don’t understand how to save or invest money nowadays, and financial literacy rates continue to decline year after year. This is evidenced by the student loan debt crisis and stories of college students racking up tons of debt (student loans, credit cards, payday loans, etc.) while working minimum wage jobs. If you’re planning on having kids or you already have kids in your family, how do you plan to teach your kids about money? Of all the mistakes young parents can make, not teaching your kids how to manage money from an early age is one of the most concerning because of this widespread lack of personal financial literacy among high school and college students … Read more

Everything You Wanted to Know About FHA Loans

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Millennials and Home Ownership - Do Millennials Need to Buy Homes?

The cost of housing is skyrocketing across the U.S., particularly for renters seeking affordable housing. While there are many benefits to renting a home, you don’t have to pay for repairs or property maintenance. Some utilities might be covered in your monthly rent, the freedom to move. But, many people still aspire to the American Dream of owning a home. But if housing prices continue to rise as mortgage lenders are still hesitant about lending in a post-recession economy, how can you possibly manage to save up the massive, 20% down payment required for most mortgage loans? Thanks to the U.S. Department of Housing and Urban Development’s FHA loan program, you might not need to save up for a huge … Read more

Buying Your First Rental Property – How to Know if You’re Ready to Invest

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house for rent

If you already have a steadily growing investment portfolio of stocks, bonds, and mutual funds, then perhaps it’s time to add a new type of investment to your collection: rental property. Investing in rental properties can be an enriching venture, but it demands a lot of planning and financial involvement to be successful. Buying Your First Rental Property Are you ready to invest and buy your first rental property? Here are some things to consider while making your decision: What’s Your Current Financial Situation? To get an accurate depiction of your current financial situation, you’ll need to calculate your personal net worth. This involves assessing your debts, income, and other investments. Also, take a look at the interest rates you’re … Read more

How to Invest in Small Business Loans for Growing Businesses with StreetShares

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StreetShares Review - How to Invest in Small Business Loans

Although the unemployment rate for American veterans is on the decline, the creation of fulfilling work for veterans transitioning to civilian life remains a challenge. Veterans have an immense variety of skills to offer employers, but in some cases, working for themselves might prove more rewarding. This is why StreetShares was founded in 2013 – to give veterans greater opportunities to get the funding and information they need to start businesses of their own. How to Invest in Small Business Loans If you want to earn great returns on your investments and make a difference by supporting Americans who have honorably served your country, then here are a few ways to get involved in StreetShares: 5% Interest on Veteran Business … Read more