Featured Article
How Many Credit Cards Are Too Many?
Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
Continue Reading
Payday Loans: The Hard Truth About Easy Cash
If you haven’t been inside one, you’ve almost certainly passed by one. They’re those non-descript buildings typically adorned with brightly colored awnings or neon signs proclaiming “PAYDAY LOANS” to the world. You’ll find them in most towns, large and small, in states where they’re legal. In fact, according to a report by NBC news, there are now more payday lenders in the United States than McDonalds or Starbucks!
The Big Three: Different Types of Credit
The concept of credit is relatively simple: A borrower receives money or goods now with a promise to pay a lender back later, typically with interest to compensate the lender. But credit is not just a single monolithic thing. Did you know there are actually three main types of credit that show up on your credit report and are used to calculate your credit score?
Applying for Loans, Mortgages and Credit Cards after Bankruptcy
There’s no getting around the long road to building credit after bankruptcy. Once you have it on your credit file, it will be harder to get approved for different types of financing. But, you aren’t stuck with a lifetime of declined loan applications because you can always take meaningful steps towards rebuilding your credit. And over time, every step you take towards improving your credit score will bring you one step closer to being able to qualify for credit cards after bankruptcy, loans and even a mortgage.
Budgeting for a Baby
Between baby gear and diapers, those baby expenses can add up quickly. Are you prepared for the real cost of raising a child? Most Americans underestimate the average costs of having a baby. A 2017 survey found that only 11% of expecting parents have a realistic idea of how much to budget for that first year. How much does it cost to have a kid? According to the USDA’s assessment, from birth through to age 17, you can expect to pay $233,610 to raise one child. The first year can cost as much as $21,248. While these may be shocking numbers for some, there is good news. There is a lot you can do to reduce the cost of a baby. The more you do to develop healthy budgeting habits now, the more you’ll be able to save in the first year and beyond. Which means—more money to save for college!
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.