Should You Break Up With Your Credit Card? When to Move On

Written by 6 Comments

I’m a big believer in using credit cards to better your financial situation.

That means using your credit card like a debit card, not like a free flowing spigot of money.  There are too many benefits to using a credit card like a free month of float on your money and free warranty extensions on products you buy to ignore credit cards completely.

That isn’t to say that credit cards are risk-free.

Obviously, many people get trapped in credit card debt paying high interest rates with balances that take forever to pay off.  (Many times this is through their own choices of spending too much money on the card, but I digress.)

Just like any other tool credit cards can be used for both good and bad.

The choice on which is up to you.

Even if you aren’t up to your eyeballs in credit card debt there are times when it is just time to move on and decide this isn’t a good card for you.

3 Big Reasons to Break Up With Your Credit Card and Find a New Card

Continue Reading

Stamp Prices Increase and Links

Written by 8 Comments

The cost of stamps will rise to 46 cents per stamp on Sunday. 

The US Postal Service is in dire shape; the organization nearly defaulted on payments it is required to make twice last year.  A decline in demand for sending items through the postal service combined with rising healthcare and pension costs has put extreme pressure on the Postal Service.

When is the last time you sent a letter to someone?

Aside from occasional bill payment or sending a birthday card, my use of postal services has dropped significantly.  What will the USPS do as demand continues to drop?  Only time will tell.

When things change financially you have to take action. Don’t wait for a Congressional bailout like the USPS. Take action with these articles:

Continue Reading

Where Can I Get IRS Tax Forms (or Where Can I File Free)?

Written by 4 Comments

Remember when you used to get a package of small booklets in the mail at the beginning of the year?  They had those real thin pages, like newspaper and there would be official computer forms included.

Well those packets, your IRS 1040 tax forms for the previous year, haven’t been mailed out since 2011.

According to the IRS, fewer and fewer taxpayers have been receiving tax packages in the mail in recent years.  In fact, in 2010 only 8 percent of individuals who files taxes received tax forms in the mail.

Wow, have times changed!
Continue Reading

What is the Difference Between a Will and a Trust?

Written by 2 Comments
last_will_testament

Thinking about your own death is often unpleasant yet unfortunately necessary.

When you die there are a certain set of rules that dictate how your assets will be distributed to your heirs.  Those rules are set by your state’s estate tax laws.

If you don’t want your assets to go to the state and likely take years to be doled out to your heirs then you need a will.  Some people may also need a trust, but a will and a trust are two different legal issues.

Finding out the difference can be pretty confusing and having the wrong type of legal protection for your assets can be a catastrophic estate planning error.

How are a Will and Trust Different?

Continue Reading

5 Strategies for Keeping the Peace When Parents Move Back in with Their Adult Children

Written by 7 Comments
old_bear_toys

As much as parents love their children, some parents prefer that their grown children fly the coop and don’t come back to live. 

Having adult children move back in with you can be challenging and often requires that you establish firm boundaries and ground rules so both generations can live in peace under the same roof.

While much has been written about the boomerang generation, not much has been said about the reverse trend–parents moving in with their adult children thanks to an inadequate retirement or health problems.

If you foresee that there may be a day when your parents could potentially move in with you, it is important to begin preparing now, years before it may actually happen.

Here are some strategies to help keep the peace when parents move back:

Continue Reading

The Best 0% Balance Transfer Credit Cards 2013

Written by 8 Comments

For a while, 0% balance transfer credit cards disappeared from mailboxes.

Now, though, they are starting to make a comeback as the economy improves, and as credit scores start to rise.

If you are looking to transfer some of your higher-interest credit card balances, you can use one of these offers — you usually receive 0% on purchases for the introductory period as well.

Saving Money with 0% Balance Transfer Credit Cards

One of the great things about the best 0% balance transfer cards is that you can save money in interest, and pay down your debt faster.

These credit cards don’t charge you interest on the balance transfer for the introductory period, so whatever you pay goes right to your balance.  This can help you get out of debt faster.  Of course, make sure you pay more than the minimum to really take advantage.

Additionally, if you plan to make a large purchase and have a card that offers a 0% introductory APR on purchases, these kinds of credit cards can help you get what you want and then pay it off quickly — without paying interest at all.  It’s a great way to save money instead of putting the item on a high interest credit card, or getting a loan. Continue Reading

What is COBRA Continuation Health Insurance Coverage – How Does It Work?

Written by Leave a Comment

One of the biggest fears any of us have about losing a job is the loss of health insurance.

COBRA continuation health insurance was designed to eliminate that fear, but the reality is that relatively few people ever take it.

Why is that?

COBRA seems simple, and on the surface it is.  Details of the provision on the other hand, are anything but.

What is COBRA Continuation Health Insurance Coverage?

COBRA is the abbreviation for the Consolidated Omnibus Reconciliation Act of 1985.  It was enacted by the U.S. government that mandates providing employees with continuing health insurance coverage after separation from their employers.  The Act has been in existence since April, 1986, and covers most employees.

How Does COBRA work?

Continue Reading

8 Places to Research Your Potential House Before You Buy a Home

Written by 6 Comments

Buying a home is a big deal.  

You don’t want to go into it unprepared.

Before you buy a house, you want to make sure that you are getting the right house for you — and that it’s in the right neighborhood. The steps to buying a house start with thorough research on the topic.

As you research buying a house, here are 8 web sites that can help you narrow the field and find what works best for you:

1. Trulia

Continue Reading

Alternatives to Attending PayScale’s Top Universities and Still Earning a Commanding Salary

Written by 3 Comments

Getting ready to choose a college? 

Depending on your children and their interests, they may be looking at a report to determine the top party schools or the schools that rank highest for their chosen field.

Or, they may just care about the bottom line.

In that case, the annual PayScale report probably attracts their interest.

PayScale offers an annual college salary report that shows which colleges produce graduates that make the highest annual income.  The report breaks this down by starting salary and mid-career salary.  They also report how satisfied respondents are with their jobs.  All the data is collected by those who self-report.

This year, schools in the top 10 are composed primarily of Ivy League schools, private schools, and schools that specialize in a field such as engineering.  They are in order of ranking: Continue Reading

The Discover it® Card Review – An All-Around Card That’s Fair to the Consumer

Written by 2 Comments

Would you like a credit card that didn’t hit you with a ton of fees?  Maybe even a card that was fair to its users? How about a card with generous cash back?  Let’s add in customer service from a company known for its customer loyalty?

Mix that all together and you get the Discover it® card.

Discover set out to make an all-in-one card made up of the best qualities that consumers are looking for.  They created an all new line of cards: the Discover it card.

Let’s take a look at some quick basics of the Discover it card before we get to our review:

Continue Reading