Managing money is an important life skill. It’s never too early or too late to teach kids how to make smart decisions on financial matters. If you are at a loss where to start, you can use this original and fun digital comics featuring the Avengers as they teach Spiderman the importance of budgeting and other banking concepts.
If you are planning to buy a car, consider applying for a balloon repayment instead of borrowing the full amount of your car. A balloon payment is a lump sum amount made at the end of your loan period, as against a down payment made at the beginning. For example, if the full value of the car you will buy is at $30,000 with a balloon payment of $5,000, your total loan will be $25,000 payable, for example, in five years. You will then pay the remaining $5,000 at the end of the fifth year. This translates to lower interest cost.
Choosing the right bank for the services you need could make a lot of impact in helping you keep your payment commitments and saving. You should feel comfortable about going to the bank and asking them questions. In addition to savings and credit cards, your bank can offer you a wide variety of services like house or car loans, insurance, bills payment, and investment management. Here are some factors to look or ask for when you are choosing the bank that’s right for you.
Getting buried in debt does not always come from major purchases, like a car or a house. More often, it comes from little, seemingly unimportant habits that builds up like a snowball rolling downhill every month.
This list takes a look at five common financial habits that can get you in the red. Continue reading
Emotional spending occurs when some strong emotion triggers you to buy something you think you need or something you don’t need at all. Any sort of emotion can trigger spending – when you’re happy, stressed out, depressed, bored, pressured, or insecure. Continue reading
This article from Get Rich Slowly outlines three big steps to get out of debt.
Are you having a hard time paying your utilities? Budgeting for utilities can be challenging because you don’t know how much they cost until the bill arrives in your mailbox. In a previous post, we talked about applying for hardship variance with your creditors. Do you know that you can do the same with your utilities? Continue reading
If you are having a hard time keeping up with your loan payments because of sudden illness, unemployment or other financial difficulties, contact your creditors about applying for a hardship variation. Continue reading
The holidays are barely two months away. May these simple money saving tips for the holiday season help you plan for a meaningful Christmas without getting buried in debt.
The credit card minimum payment indicated in your monthly bill is a small amount compared to your actual expenses. As the name implies, it’s all you have to pay each month. That’s what credit card companies want you to think. Your minimum payment covers just a little bit more than the interest expense of your loan.
