I’ve played one sport or another virtually my entire life. And, along with playing, I enjoy watching as well. One of the many things I love about sports is that it is just so unpredictable. Continue reading “Going Against the Odds”
Are you dealing with a challenging financial issue? Whether it’s a decision you need to make or a mess you need to get out of, the Consumer Financial Protection Bureau (CFPB) exists to help. Its mission is “To make markets for consumer financial products and services work for Americans – whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.” How can the CFPB help you? Continue reading “4 Ways The CFPB Can Help You With Financial Issues”
I recently spoke to a young woman on the phone who was in tears due to a loan she had taken out to help bail out her (then) boyfriend from almost getting his pickup truck repo’ed. The couple had seen a late night commercial on tv for CashCall, promising quick cash for any need. Of course, the boyfriend convinced her to put the loan in her name since she had better credit than he did. Can you just imagine where this story is going? Continue reading “Don’t Make the Cash Call!”
Last week, I wrote about signs that you might have an issue with credit cards and potentially even be a credit card addict. Do any of those behaviors ring true with you? If so, you might want to make some serious tweaks to the way you manage your financial life. Continue reading “You Might Be a Credit Card Addict If… (Part II)”
My kitchen stove needed replacing last weekend, so I headed to my favorite home improvement store, Home Depot, to pick out a new smoothtop electric stove. This gave me the opportunity to upgrade from the basic builder’s white model to a stainless steel version, but of course that set me back several hundred dollars. “No worries,” said the sales rep, “you can take advantage of our 6 months deferred financing deal being offered!” Continue reading “Is Deferred Financing a Deal or a Dud?”
If you’re like the average American, you’re getting a tax refund of about $3k this year. So what should you do with that nice windfall? Here are some things to consider before blowing it all on a random shopping spree. Continue reading “What Should You Do With Your Tax Refund?”
Each year, Financial Finesse releases a research report on Trends in Employee Financial Stress Research. Last year’s report identified that 83% of employees report some financial stress. If you are experiencing overwhelming financial stress and anxiety you should take action immediately. Check out this list of ways to deal with financial stress and anxiety. Continue reading “Ways to Cope with Financial Stress and Anxiety”
It’s stressful enough being contacted by a debt collector. It can be an absolute nightmare when you’re dealing with one that’s breaking the law. Unfortunately, many people do not know the difference. Unaware of their rights under the Fair Debt Collection Practices Act, consumers are unnecessarily victimized by illegal tactics that shady debt collectors count on being able to get away with. Don’t let them. Continue reading “Debt Collector Rules of Contact: Do You Know Your Rights?”
Call me what you may, but I love stories about lousy customer service. Maybe because I’ve seen so much of it, seeing stories about it lets me know that I’m not alone in the world. So when I saw this article about companies with the worst customer service reputations, it made me smile. I can’t explain why, but that’s my reaction. And the thing that makes me laugh is that it doesn’t take that much effort to change the perception of lousy vs. great customer service. Continue reading “Little Things Can Make A Big Difference”
In this article, Learnvest provides some guidelines as to how to budget and prioritize your financial goals. First, when it comes to budgeting, they suggest what they call the 50/20/30 rule: Continue reading “How Not To Prioritize Your Financial Goals”
This past weekend, I enjoyed a wonderful visit from my mom. As I was enjoying a morning cup of coffee (and not adequately caffeinated for a serious discussion), she told me about her retirement plans. Actually, she mainly shared how she was financially prepared to leave the workforce within the next year but not quite sure she was ready for full retirement. Continue reading “Retiring Within the Next 10 Years? 10 Things to Do Now”
When it comes to money, kids today are presented with a world of choices that most of us parents didn’t have to worry about when we were young. You certainly didn’t have to think about the latest iPod or iPad, $100 tennis shoes, or any other purchases of that magnitude. Depending on your age, credit and debit cards may not even have been around when you were younger – if you grew up when I did, you either had money or you didn’t. Continue reading “How to Educate Your Kids on Proper Money Management”
Over the last two days, we discussed the Baby Boomers and the Generation Xers. Finally, let’s take a look at the newest generation to enter the workforce: the Millennials. Like the other age groups, not saving enough for retirement is the biggest vulnerability facing Millennials. However, they’re the only generation that doesn’t seem to know it as Millennials ranked more urgent needs like managing cash flow, getting out of debt, and investing as higher priorities. Here are some steps Millennials can take to strike a better balance between the needs of today and tomorrow: Continue reading “7 Steps For Millennials to Define Their Financial Future”
Yesterday, we provided financial tips for the Baby Boom generation. Today, we take a look at Generation Xers, who are suffering the double whammy of experiencing tough economic times at a particularly vulnerable financial stage of life. While most Millennials were too young to own stocks or real estate during those market crashes, and Baby Boomers enjoyed decades of growth in both assets throughout the 80s and 90s, many Gen Xers had the misfortune of starting their investing just as both markets were peaking. This comes at a stage of life in which a majority of Generation Xers own a home (translate: have a mortgage payment) and have minor children (translate: extra mouths to feed). So if you’re a Gen Xer, here are some moves to consider: Continue reading “7 Steps for Generation Xers to Reclaim Their Financial Future”
One of the reasons New Year’s resolutions do not work is that they’re too general. Lose weight, for instance, tops the list every year. But without some specific, absolutely doable action tied to the resolution, it feels out of reach and, in turn, is quickly abandoned. Continue reading “5 Focused Resolutions For Better Credit In 2014: Which One Is Right For You?”
As the year winds down, some employees may find a little extra in their stockings this year in the form of profit sharing, year-end bonuses, or other such windfalls. Such surprises may leave them wondering “What should I do with this?” Well, if you’ve managed to stay on the nice list all year, here are a few ideas as to what you can do with this extra bit of Christmas cheer: Continue reading “Did You Find a Little Extra in Your Stocking This Year?”
Recently, a judge allowed the City of Detroit to remain in bankruptcy court which will allow the city to try to find a solution for an $18 billion debt problem. As a part of the solution, the pension benefits for a lot of retirees and current workers may be significantly reduced. The city is in serious financial trouble and without some sort of drastic measures, it might never recover. Continue reading “Lessons From Detroit”
One of the many hats I wear around the Financial Finesse office is that of a fact checker. Before we publish an article or release new content, I am frequently asked to verify any factual information it may contain. In some instances, the information I am asked to verify is absolute. For example, the IRS has recently released 401(k) and IRA contribution limits for 2014: $17,500 (or $23,000 if age 50+) and $5,500 (or $6,500 if age 50+), respectively. At other times, the information we include in our publications is based on generally accepted financial planning principles—what we typically refer to as “rules of thumb.” Continue reading ““Rules of Thumb” Can Make Financial Planning Simpler”
I grew up playing sports almost year-round. When I was 6, I started playing football. I played some sport competitively all the way through college and for many years afterward. (I’m currently debating whether or not to become a referee in a local youth rugby league so that I can still get out there and run around a field, but not wake up stiff and sore from being tackled.) Continue reading “Getting Back to Basics”
One of the things that I’ve grown to believe in more and more as I talk to people who are nearing retirement and hitting the panic button about their ability to fund their retirement lifestyle is that retiring debt-free is the only way I want to retire. I’ve always been debt-averse, but as I help people look at their financial lives and their ability to live the lives they want in retirement, the more clear the vision I have for myself is becoming. I have seen people with near identical incomes, 401(k) balances, pensions, and Social Security estimates have completely different views on retirement. The #1 reason for those views is their mortgage payment. Continue reading “4 Easy Ways to Pay Your Mortgage Off Early”
