Suze Orman Debt Management Versus Debt Settlement

Posted on May 08, 2013

How Freezing Your Credit Report Protects You From Identity Thieves

According to the March 5th, 2013 release by the Federal Trade Commission (FTC), identity theft was the #1 consumer complaint in 2012.  In addition, the FTC’s February report states that nearly one in four Americans have an error on their credit reports that is significant enough to prevent them from obtaining a loan or certain types of employment. The best method for combating identity theft is to check your credit report at least, once a year. It is free through www.annualcreditreport.com and you can view all three reports, every twelve months. Another option for safeguarding your identity is to place a credit freeze on your credit reports. A credit freeze prevents the credit bureaus (Equifax, Experian and TransUnion) from releasing...

Posted on Mar 17, 2013

Five Ways to Get Extra Money When You Need It

Five Ways to Get Money When You Need It Almost everyone wishes they had ways of having a little (or a lot) more cash. However, it may be difficult to pick up a part-time job; looking, applying and interviewing take time. There are alternatives to a second job, and here are just a few of them 1. Sell on Craigslist.com Craigslist is well-known website that allows people to post items or services they hope to sell. Most populated areas in the United States have their own Craigslist site (they’re separated geographically); consider it a “new age” garage sale. Unlike other online selling outlets, Craigslist only facilitates face to face meetings for sales/purchases. This means buyers do not have to give sellers their credit information,...

Posted on Mar 14, 2013

For Moms Managing Finances Advice, Support and Hope are Available

A 2010 survey performed by researcher iVillage, found that an increasing amount of women are making the financial decisions for the entire household. The survey discovered 61% of moms are in charge of the family’s finances and 41% expressed they would like to be more educated when it comes to financial decision making. Only 37% responded that they would seek information from a financial advisor (Making the Case for Financial Literacy 1). There are many reasons people might not want to seek out information from a professional. Embarrassment, distrust, inconvenience and cost are some of the barriers people face. So what do you do? The solution may be easier than you think. American Financial Solutions is a trusted, non-profit credit counseling agency. Our...

Posted on Mar 10, 2013

Survival Plan for Maintaining Financial Stability during Sequestration

  Washington, DC – Sequestration is now in place, and along with it came a good amount of uncertainty, causing many Americans to wonder how they will be impacted.  By some estimates, more than one million employees of federal agencies may receive furlough notices.   Some workers are not adequately prepared to deal with a loss of income, even a short-term one.  For those living from paycheck to paycheck or without significant savings, any income interruption is likely to put them over the financial edge.    For example, consider the statistics below from the National Foundation for Credit Counseling (NFCC) Financial Literacy Survey:   ·         Thirty-three percent of respondents admit to not paying all bills on time; ·         Thirty-nine percent have zero non-retirement savings; ·         Thirty-nine percent carry...

Posted on Mar 03, 2013

Day 5 of America Saves Week - Long Term Plans

Day 5 – Make Goals and Track Progress Taking part in America Saves Week is a great first step in the right direction of saving and financial responsibility. However, the saving process must continue if you wish to make a real difference in your personal wealth. The best way to do so is to set goals and track your progress. The following five steps will help you continue saving and reach financial goals Record Plan Track Achieve Continue The first step of the process is to record. What this means is to record your current financial wealth. In this case, consider it to be the amount of money in your savings account today. This step lets you know where you currently stand financially. Next, you have to plan....

Posted on Feb 28, 2013

Day 3 of America Saves Week - Big Ticket Savings

Day 3 – Big Ticket Saving Occasional “Big Ticket” or expensive purchases can be unavoidable in life. People simply need cars and homes, and want to send their children to college. The best way to deal with these necessary purchases is to plan ahead and be prepared. There are of course many ways to do this, but perhaps the easiest is to devote a percentage of each paycheck to one of these items. The percentage of a paycheck you can set aside for this kind of preparation will vary for every individual. The percentage could be 10%, 5%, or even as low as 2%. The farther in advance you start preparing, the lower the percent necessary to save. As an example, consider someone...

Posted on Feb 26, 2013

Day 2 of America Saves Week - Tax Returns

Day 2 – Make Your Tax Return Count A tax return is something that presents many opportunities for American taxpayers. That could be getting out of debt, taking a vacation, saving the money; the list is virtually never ending. Making a decision, let alone a good decision on how to spend your tax return can be difficult and possibly overwhelming. A strategy to consider when making this decision is the 30-40-30 rule. The 30-40-30 rule breaks down your tax refund into three categories, past, present, and future. This means 30% of your tax return can go towards past payments or purchases, 40% towards present consumption, and 30% towards future endeavors. The 30% of your tax return spent on things from the past of...

Posted on Feb 25, 2013

Day 1 of America Saves Week - Dine in, Not Out

Day 1 – Dine In, Not Out Eating out has become routine for many Americans. Reasons to go to restaurants are easy to find; I’m too tired to cook, I don’t want to have to clean, we all want different things for dinner, it’s easier, the list goes on. As of 2012, Restaurant guide Zagat reports the average adult dines out approximately 3.1 times per week, with the average price of a meal being $35.65. This means the average adult in the US is spending $140.78 per week on dining out (2012). A yearly breakdown of dining expenses is below. 3.1 meals x $35.65 per meal = $110.52 per week $110.52 per week x 52 weeks = $5747.04 per year Most people’s jaws would...

Posted on Feb 24, 2013

Day 4 of America Saves Week - Retirement

Day 4 – Retirement Plans Retirement is a very intimidating issue for most Americans, because of this, they try to avoid it. Every year the amount of Americans unprepared for retirement continues to climb. A 2010 report claimed only 69% of “working households” were saving for retirement (Carty 1). The number of Americans unprepared for their future has been projected to be as high as 49% in 2012 (Ellis 1). Luckily, there are many ways to prepare for retirement. Here are three options to consider: Consider retirement or pension options through your employer Start an individual retirement account (IRA) Simply save (Using a savings account) Many employers provide retirement or pension plan options (many also do not). The first step in preparing for the future is...

Posted on Feb 22, 2013