September 2010 Archives - Free From Broke

Does Your Kid Deserve A Credit Card?

If the thought of your 18-year-old on the loose with plastic in hand terrifies you, you likely share the sentiment of many parents in the same situation.

Lawmakers seem to agree as well, which is probably why the Credit CARD Act of 2009 has made it much harder for young adults age 18 to 20 to obtain their own credit card.

Under this new act, anyone under the age of 21 has to meet a few extra requirements before being granted a line of credit. They either have to either prove their income is high enough to pay off the bill or have someone over the age of 21 with sufficient income and credit co-sign (i.e. Mom or Dad).
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Amazon Mom Review- Free Amazon Prime As Well As Discounts And Exclusive Offers

Written by Glen Craig 7 Comments

Are you a parent (or caregiver) who shops on Amazon? Then you want to check out Amazon Mom!

Here’s what Amazon Mom offers:

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Portfolio Diversification

Written by Glen Craig 5 Comments

Investing incurs risks because it is impossible to correctly predict future returns of any investment every time (if you can let me know!). However, what is certain is that not all investments perform the same way under the same market conditions; some zig while others zag. Investors may try to pick one investment asset over the other by non-diversifying, but any wrong pick would result in lower returns or losses. Portfolio diversification reduces investment risk by eliminating such possibilities through investing in assets of different expected returns. The expected return on a diversified portfolio will always lower than the asset with the highest expected return but higher than the asset with the lowest expected return. In other words – it evens out your highs and lows for a more even return.
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Did You Opt-In For Overdraft Protection? Tips For Avoiding The Overdraft Fees

Written by Contributor 14 Comments

As of August 15^th 2010, banks are no longer allowed to automatically enroll customers into overdraft protection plans for their checking accounts, according to the Federal Reserve’s new regulations. This means you have to “opt-in” or agree to overdraft protection or else your debit card will be declined when you’ve overspent.
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myFICO Offering Free FICO Score

Written by Glen Craig 6 Comments

Looking to get your credit score? Well, myFICO is now offering up a free FICO score including a full explanation of the score, telling you how lenders see your score.

Why do you need your FICO score?

If you plan to make any major purchase with new credit, such as a house or a car, your FICO score is a crucial element in determining how much your loan will cost. It might even determine if you can get the loan. But your credit score isn’t only for loans these days. Landlords may look at it before renting an apartment to you and some employers are using it to screen prospective employers.
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5 Simple Steps To Save On Food Shopping

Written by Glen Craig 14 Comments

Ever go food shopping and think you need only a few items?

You do your shopping, thinking you didn’t buy much and then you get to the register.

The amounts on the register screen start piling up.

When your order total pops up you do a triple take saying “what?!?”

You’ve just spent way more than you wanted. What’s worse is you get home and you don’t really have much food for meals. Ends up you have a lot of snacks and such.

Ughh.

Join Amazon Student And Get Free Amazon Prime For One Year

Written by Glen Craig 5 Comments

Do you shop Amazon? Are you taking college classes? If you answered yes two both then you may be eligible to sign up for Amazon Student!

Let’s look at what Amazon Student is all about:

A Tornado of Great Articles to Read

Written by Glen Craig 19 Comments

So yesterday I’m outside with my son doing some lawn work. Dark clouds gather and I hear some thunder so we pack up our stuff and head inside. About ten minutes later a pretty big thunderstorm rolls through. No big deal. About an hour later we hear there’s been a possible tornado in NYC (we’re a couple of towns over from the border). Wha?!? I had class so I had to drive into Queens. Trees down everywhere! Huge branches all over the place. Streets closed off with trees blocking the way. Highways are useless in certain areas. Trains aren’t running and thousands are stranded. If my class were about an hour earlier I could have been in the thick of it.

You never know what is going to happen tomorrow.

We can plan and plan but the future is an unknown. Do what you can to minimize the unknown and make sure to live life now!

On to some great personal finance articles I found:

10 Ways To Lower Your Cost Of Living

Written by Contributor 20 Comments

During tough economic times, it’s easy to feel the pinch when you’re short on cash. Prices seem higher than ever and the paycheck doesn’t seem to cover as much as it once did. It’s during these times that you need to tighten the belt and lower your cost of living. However, tightening the old belt doesn’t necessarily have to mean that you can’t enjoy life. Here are ten easy ways to cut down on your cost of living:
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SmartyPig Race Out of Debt Contest – One Winner Gets Almost Five Thousand Dollars!

Written by Glen Craig 2 Comments

SmartyPig is running a new contest called “Race out of Debt.” The winner will get $4,951. Why $4,951? Well, it seems that’s the average American’s credit card debt as of this Summer. Sound like a lot? It’s actually down 13% from last year! So to celebrate bringing our debt down, SmartyPig is going to make one contestant super happy.

Pork Run For Cash!