A Victory for College Students – Student Loan Rates Remain Low for Now

Until June 29th, a big problem was brewing for college students but less than two days before the deadline, Congress agreed on a bill that would avert larger student loan payments for some students.

The cost of college rises at roughly twice the rate of inflation each year.  This equates to nearly 6% annually and that has made college tuition out of reach of the majority of families that didn’t save for education costs.  Because of that, most students now rely on grants and loans to pay the costs.  Grants quickly run out for most leaving student loans as their only option.

The federal government helps by offering two types of loans, called Stafford loans.
Continue Reading

How will Obamacare Affect Small Business?

Since the economy began recovering from the economic crisis of 2008 and 2009, Washington has used one key talking point.

According to politicians, the key to a sustained economic recovery in America is the strength and health of the small business community.

Small businesses create more jobs than large corporations and according to some economists, have led the way in recoveries during past recessions.

But much of the small business community feels like Washington’s commitment to their growth may have been nothing more than talk in light of the recent Supreme Court decision that upheld the Patient Protection and Affordable Care Act, better known as Obamacare.

Some of the key provisions of this law include:

Continue Reading

ING Direct Financial Independence Days Sale – 2012

ING Financial Independence

ING DIRECT is at it again!

ING Direct Financial Independence Days SaleTo help celebrate our country’s independence, ING DIRECT is offering up some juicy deals to help you achieve financial independence.  As our country’s independence was declared in 1776, you’ll find many of the offers play of the ’76 theme.

Hurry up and check out the offers as they as are only around June 30th thru 11:59 pm ET, July 3rd.

Here are the ING DIRECT Financial Independence Days Offers:

Liberate from Checking Fees

Continue Reading

Financial Freedom Starts with a Low House Payment

Is achieving financial freedom an important goal in your life?

If it is, don’t follow the conventional wisdom of buying the most expensive house you can afford.

Sure, by buying the biggest house you can afford you can grow into it, live in it longer and maybe even avoid a costly trade up in a few years.  Fair enough.

But when it comes to achieving financial freedom, buying the most expensive house you can afford is the exact opposite of what you want to do.

In fact it can be said that the more expensive your home is the less chance you have of ever attaining financial freedom.

Expensive homes and financial freedom are what you might call “mutually exclusive”—having one reduces your chance of getting the other.

How could that be?

A house determines general consumption patterns

Continue Reading

Consumer Financial Protection Bureau Makes Consumer Complaints Publicly Available

man_megaphone_complaint

Do you know about Yelp?  Maybe Tripadvisor?

If you’re looking for a new restaurant or you’re traveling and find yourself in an unknown place, Yelp and Tripadvisor take some of the guesswork out finding a quality restaurant by publishing customer reviews.  You can search for restaurants by the amount of positive reviews and companies can respond to the review in an attempt to rectify a negative customer experience.

Websites like these have caused some local businesses to clean up their act since they know that savvy consumers reference these sites en masse.  They know that bad reviews can affect their bottom line just as positive reviews can increase traffic.

Not all businesses have such a low tech yet effective system of oversight.

Wouldn’t it be nice to know how a certain bank in your community treats its customers?  When trying to choose from the sea of credit card offers, wouldn’t it be nice if you could see what other card holders around the country think of the card?

Credit Card Complaints Made Public

Continue Reading

Roth IRA Contribution and Income Limits for 2012

roth_ira_limits_2012

A Roth IRA can be a great way to build up retirement savings.  

One of the great advantages is that since you are putting money in after it’s taxed you get to take the money out, in retirement, tax-free.  And that includes the money’s growth over the years as well.

Another great advantage to the Roth IRA is that you can take out the contributions you put in without any penalties. This is due to the fact that you have already paid taxes on that money (opposed to a traditional IRA where you put pre-tax money in and get the tax break now).

As wonderful as the Roth IRA can be you can only put so much into it each year and there are limits to how much you can make as well.

Congress is always tinkering with the tax code and making changes nearly every year and in nearly all categories, and that includes Roth IRA contribution and income limits.

Below are the Roth IRA contribution limits for 2012.

Contribution limits

Continue Reading

What Do Bank Routing Numbers Mean?

blank_check

Bank routing numbers, or “routing transfer numbers” (RTN’s) appear on virtually all of our checks and other demand instruments, but as common as they are most of us have no idea what their purpose is.

Occasionally we’re asked to provide our bank’s routing number—such as for direct deposit of income tax refunds—but this does little to clear up the mystery behind them or why they’re so important.

Think of it this way: each of us has a checking account number—the bank has its own identification number, and that’s the bank routing number.  That number is at least as important to the bank as our checking account numbers are to us.

Where do you find a bank routing number?

Continue Reading

Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing