Paying off debt is a team effort once you are married. If you and your partner have debt on your hands, sit down and honestly discuss how to deal with it together.
It seems that credit card fraud and major retailer breaches are just a part of our everyday life now. As these attacks continue and hit more often, the best thing you can do is to be informed on how to prevent and minimize the damage.
Every time the market swoons, as it has recently, there is a lot of handwringing, as if the natural order has disintegrated. What we are seeing is a process called “creative destruction,” and it is healthy.
The junk bond crash of the early 1990s, the tech wreck of the late 1990s, the housing bust of the last decade – all were necessary weeding out of economic structures that had outlived their usefulness.
If you recently graduated from college and landed a good job, congratulations. You may face a dilemma: Begin saving for your future or pay off student debt now?
Of course, avoid missing payments on your loans and at least meet your monthly minimums. The big question depends on whether your income exceeds your monthly expenses (including your minimum payments). How do you best put that money to work?
Today’s college grads carry unprecedented amounts of debt. How should they deal with it? Here are some strategies.
The problem sneaks up on many young borrowers. Wall Street Journal reporter Veronica Dahger, moderator of a panel of advisors, noted that a lot college grads will wake up to discover that they are burdened by an “overwhelming amount of debt.”
One of the most ticklish situations in a marriage is dealing with money – often because couples don’t talk about it, or if they do, not well. Advisors explored this fraught subject at National Financial Advisor Week.
“Being compatible romantically does not mean being compatible financially,” said Hilary Hendershott, on a panel of advisors that dug into the issue.
The good news for the economy is that consumers are buying more. The bad news is that they’re not paying for what they buy. Debt delinquencies are surging, and so are collection agencies.
Your credit score is like the GPA of your finances. To get better financial options in the future, you should know your credit score and how you can improve it if necessary.
Your credit score plays a role in almost every financial aspect of your life. Banks check your credit score to determine whether or not to approve you for credit and how much you pay in interest charges. Your landlord may ask for your credit score for your lease application, and more and more employers are interested in it as a way to measure how responsible you are.
When a couple weds, each in the new pair often feels pressure to marry individual finances together as well. Smart financial planning actually dictates that you don’t have to – and in many cases shouldn’t – put all your money into a single, joint account. You can enjoy both cooperation and autonomy in your financial marriage.
Planning to afford increasingly costly higher education should be a family affair. Together, parents and their high school-age youngsters must figure out ahead of time how to find the money and spend it. This can be a tricky proposition.
Now is a good point to start thinking about this. Summer is passing by and once again, students are headed back to class. Some teens change buildings, some finish their high school careers and all face big questions about their future.