Category Archives: Money Blog
Adults Living at Home
There comes a time in every family’s life where the young need to leave the nest. This transition, as most families have experienced, can be a difficult process. The Pew Research reported 36 percent of adults ages 18 to 31 were still living at home in 2012, the highest percentage in more than 40 years. Below are some steps for your beloved offspring to start moving out and moving on, so you can have the place to yourself again.
Getting a Job
The first step to getting your teen to be independent is for them to look for and eventually find a job. Even if a teen is going to school, it’s important that he or she start the process of looking for a job and gaining an income stream in preparation for moving out. Filling out applications and taking drug tests can be a sobering look at what adult life is really like.
A common first job can be working in retail or fast food, which often gives a variety of responsibilities, and new life experiences. However, if your teen struggles to find a job quickly, know that they are not alone. The Bureau of Labor Statistics recently reported only a quarter of 16 to 19 year-olds are currently employed, a number that is down ten percent from just five years ago. Today’s teens are confronting Read More →
Read Judy’s Guest Blog on BadCredit.org
Go Bananas With This Bunch of Budget Tips
Consider how bananas could teach us how to expand our way of looking at things. When you grab that banana for your quick potassium energy fix, do you only see a tasty, healthy snack and discard the banana peeling? This may just be a “rather limited and uncreative way of looking at a situation” as Johnny Depp so poignantly said.
Read The Rest of Judy’s Article on BadCredit.org
Go Bananas With This Bunch of Budget Tips
Fix or Trade Your Car?
Is it really still worth it to maintain an aging vehicle, or is it time to trade up? Out of necessity or frugality, Americans are keeping their cars longer than ever. A recent study by R. L. Polk found that the average age of American cars on the road stands at a record 10.8 years, and that Americans are holding onto their vehicles longer than ever before. If you are asking yourself whether it’s time to fix or trade your car, here are some points to consider:
The Costs and Benefits of Fixing it Up
No matter how carefully you maintain your vehicle, there will eventually be repairs that require a professional mechanic’s services. Brake rotors, timing belts, and axle boots can all be expensive repairs that can sometimes exceed the value of an aging car. YourMechanic.com estimates the cost of replacing a timing belt for a 2005 Audi all-road Quattro at a dealership at more than $1000. Repairing a transmission can be even more expensive, ranging from anywhere between $3000 and $7000. Repair bills of this magnitude would make anyone consider buying a new car.
Despite the escalating repair costs in an aging vehicle, it is almost always Read More →
If you’re wondering “What is bank fraud?,” you’re not alone. Lots of people don’t know the difference between credit card fraud and bank fraud. If they did, they would probably adopt different habits when shopping online. Take a look at these different payment options for online transactions.
Online Payment Systems
There are many online payment systems available, each with their own blend of benefits and risks. One common risk between all these systems is the use of public networks. The problem is that anyone on a public network could hack into the information being relayed across that network. It could be anyone from a neighbor to patrons at a coffee shop, which is one of the more common ways shady people gather personal information. The best way to avoid this problem is Read More →
If you’re trying to come up with a mortgage down payment for your first home, read through the following tips and resources to help you reach your dream of home ownership in the next few years.
The median selling price for existing homes in December was $198,000, according to the National Association of Realtors reports. At that price, a young couple trying to buy their first home would need a whopping $39,600 for a traditional 20 percent down payment.
Set a Down Payment Savings Goal
The first step is setting a savings goal. When doing this, explore low mortgage down payment options. While 20 percent down is standard, options run as low as Read More →
If you’re on a budget, you’re likely dreading the pricey expectations of Valentine’s Day…
—gifts, flowers, a romantic night out on the town. Don’t fold under the pressure to overspend. You can celebrate the holiday and show your thoughtfulness without breaking the bank. Here’s how.
1. Use Your Pen
Surprise your sweetheart by doing something unexpected, like writing a poem or love letter. Start by expressing how you feel and speak from the heart—you can’t go wrong! Thanks to modern poetry, it doesn’t even have to rhyme. Think back to when you two first met, and consider including some of your favorite memories together. If you just can’t think of Read More →
If you’re a parent of a teen, you already know why it’s important to look at cutting the cost of teen auto insurance. When you add that cost to all the other auto costs, like the wear and tear on your car, new tires, plus the varying gas prices, you just know your budget is about to take a hit.
Not only are you dealing with higher premiums by just adding your teen to your insurance, but you also know your worrying is going to increase as well. Statistics show that teens have a higher chance of getting in an accident when they first begin driving. According to the California Department of Motor Vehicles, a 16 year old is 3.7 times more likely to end up crashing the car compared to the general driver population. One way to cut down on that likelihood is to be sure to find a good driver education program in your area.
Let’s look at ways to cut the cost of auto insurance for teens.
1 – Encourage Your Teen’s Grades
Some insurance companies offer discounted rates for teens who achieve certain grades in school. For example, State Farm has a Good Student discount that takes up to 25 percent off of teen auto insurance rates. This discount applies to your new driver until they are twenty-five years old. If you happen to have Read More →
Being debt free is often on the top of most goal lists any time of the year. That’s no surprise considering that according to the Federal Reserve, the average credit card debt per household is $15,799. TransUnion, one of the three credit bureaus, says average credit card debt per borrower is just under $5,000. Credit.com argues it’s $3,779. Does it really matter how much the amount is, when most people just want to see a debt free future on the horizon? Whatever your debt amount is, you probably care more about different debt busters and finding solutions toward a debt free future.
Anyone living in snow country can appreciate the analogy of the gradual debt accumulation feeling like a snowball rolling down a hill and becoming an enormous mound at the bottom. Even on the sunniest day, that snowball is going to take forever to melt.
Think of resources like the Internet and bookstore shelves, packed with expert advice for digging out from debt, as the sun, gradually providing enough resources to eliminate that snowball of debt and move you toward a debt free future.
Let’s review a few options for being debt free Read More →
It’s car-shopping time again as we start that end of the year stretch. Before you step on the lot, read these 5 Regret-Free Purchase Car-Shopping Tips to ensure a regret-free experience. You’ve probably noticed that car sales are bouncing back. According to a recent National Automobile Dealers Association report, October numbers were up more than 8 percent over the same time last year. Employment at dealerships gained some ground as well; the number of jobs at franchised, new-car dealerships in 2012 rose 3.2 percent over 2011.
While dealers strive to capture more market share, it’s always wise for the buyers to educate themselves on the temptations that can lead to buyer’s remorse. Let’s look at ways to have a positive experience.
Don’t Depend on MPGs
MPG ratings are simply a calculation of how many Read More →