There’s a lot of mystery around credit scores, and while credit scores do matter in certain situations, most of the time, you can and should stop freaking out about your credit score.
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One of our DC-based Financial Trainers, Mike, explains why you may not want to consider debt settlement right away, even though it may seem like a tempting offer to alleviate some of the stress of paying back your debt.
Loss of income, unexpected expenses, and depleted savings. All of that comes with increased debt-- which is reality for a lot of Americans this year. If it feels like your debt has gotten out of control, you might be wondering, “Hey, is debt settlement right for me?” I’m here to tell you, “No, probably not.” and here’s why!
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Carrying a credit card around this holiday shopping season can make sense in many ways. It offers convenience and greater purchasing power, but there’s a fine line between smart holiday card use versus letting credit card shopping get out of hand. Here’s a basic guide on the dos and don’ts when using a credit card over the holidays.
Before setting foot in a store or visiting an online retailer to check-off your gift list, set boundaries around your spending limit. First, decide how much money you can afford to spend in total.
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When it comes to figuring out how to build credit, you might already know that a credit card can be a powerful tool in strengthening your credit profile. If you’re relatively new to using credit cards to build credit or simply want to brush up on better cardholder habits, knowing how to use a credit card wisely is the first step toward your credit goals. Here’s what you should know: Rewards credit cards can help you save money in the long run. Some cards offer tantalizing sign-up bonuses valued at hundreds of dollars and the prospect of getting cash back on basics, like gas. The appeal of earning rewards can compel you to recklessly chase points.
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The rules of the credit game are confusing, yes. But too many credit cards only hurt you in one instance.
There is a general fear of credit cards from most of our clients because most people think of credit cards as a form of debt; however, they’re only debt if you don’t pay them off regularly. Because of this fear, though, many clients don’t use credit cards at all or only use one or two. They believe the myth that too many credit cards are bad for your credit score.
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Trying to find ways to get a handle on your debt? You might consider debt consolidation, a process that can simplify your debt and possibly lower the amount you pay in interest on your loans. If you’ve been wondering how to consolidate debt there are several approaches you can take. Here are the pros and cons of debt consolidation.
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The Financial Gym Client Mackenzie Stewart shares with us how she approaches paying off her debt on a less-than-ideal income. Mackenzie breaks down both concrete steps as well as how to shift your mindset in order to conquer those debt repayment goals.
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Many of us were never taught how to manage credit cards or how they even work. Let’s start off with some basics before jumping into how to pay down your debt faster.
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My personal debt story began when I first started undergrad. I did not know anything about managing my finances, and I was easily persuaded to sign-up for my first credit card.
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Travel hacking is the art of maximizing credit card, airline, and hotel loyalty programs to get free travel, travel discounts, or travel perks that would otherwise be very costly.
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The holidays are a magical time filled with family (zoom) gatherings, fun decorations, and gift-giving from the heart. But the holidays can take quite a toll on your bank account.
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Credit cards are a few things. They’re a means to an end in a tough time, they’re a necessary tool for getting a job done (think renting cars or hotel rooms), and they can even help us travel more for way less when we use points and miles.
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Sharing important areas of your life — including your finances — is a common part of building a deeper relationship with a long-term partner. Whether you’re newlyweds in need of a shared credit card, or in a committed relationship and want a shared card to cover date nights and communal household supplies, opening a credit card account together can be a useful financial tool.
Learning a few key credit card strategies for couples can help you and your spouse or partner manage expectations for the new card. Here are a few tips for a more positive shared credit card experience.
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Revolving lines of credit, like credit cards, are a helpful tool when used responsibly. However, it can also lead to a slippery slope when it comes to wracking-up credit card debt. Although getting out of credit card debt isn’t as easy as snapping your fingers and wishing it away, there are a few strategies to repay your debt faster.
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If you need money now and have solid credit, a common financial strategy is to sign up for a new credit card with a 0% APR. Promotional no-APR credit cards don’t charge interest on your spending until the promotional period ends. As long as you pay the card off before the promotion ends, it won’t cost you anything to use.
This strategy requires you to be savvy to maximize the promotional period and pay off the card balance before interest rates hit. Here’s how to make sure you’re taking full advantage of a no-APR credit card.
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The holidays can be a whirlwind when it comes to gift shopping and travel logistics. Planning holiday expenses with the help of a credit card can offer convenience — particularly, when it comes to online shopping and maximizing rewards credit cards — but also when it comes to its valuable benefits.
Whether you’re dealing with a strict return period for a holiday gift or a storm delays your trip en route to a family gathering, here are five credit card benefits offered by premium cards that come in handy this season.
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Managing debt can be a daily challenge if you’re waist-deep in it. Staying on top of multiple payment deadlines, balances, and interest rates for each account can complicate the issue even further.
A balance transfer credit card is one method of consolidating your debt. It works by transferring your various consumer debt — like credit cards and loans — into one, no-interest credit card. This debt repayment strategy can help you streamline your payments and may also help you spend less money toward paying down your debt.
Here’s what you need to know before using this debt approach.
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It’s always nice to make your dollars stretch just a little further, right? Well, if you have gift cards there are a few hacks that help your cash do more for you. If you’re a savvy shopper you can squeeze every dollar out of those gift cards with a few tips and tricks.
Use these seven hacks for optimizing your money with discount gift cards and standard gift cards with small balances.
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Having a strong credit score can open doors to more affordable financial products, like loans, and can even help position yourself as a prime candidate for a new apartment. If your credit is poor or you’ve just undergone bankruptcy, however, these opportunities might be harder to come by.
Learning how to rebuild credit after bankruptcy or increase your credit score is possible, but there’s no instant solution to get you there. It takes time, but implementing a few strategies to improve your credit, can go a long way.
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You might be wrapping up your summer travel, but before you know it you’ll be knee-deep in holiday travel planning. A 2018 Holiday Travel Report by Nerdwallet found that nearly half of Americans expected to put an average $1,456 on a credit card to cover holiday season travel.
This year, save money on travel expenses by cutting costs on your hotel stay. Here are a few tips to help you find cheap hotel rooms and have an affordable stay.