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(4.80 out of 5)Credit card and finance computations can make your head spin, we have developed common calculators to assist you.
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In financial terms, "fixed" refers to a rate of interest that is non-variable... ...more
Most of us love to help others, so when someone we care about asks us for money, we immediately want to give them as much as we can. Although generosity is a wonderful virtue, it may not always serve you well when it comes to money.
Lending money to someone in your family or a friend can become much more complicated than it first appears. When banks lend money, it’s strictly a business deal. You borrow the money, they tell you how much the payments will be, and when your payments will be due. You know that your bank doesn’t care how much or how little money you have every month. If you fail to make a payment, you will have consequences to deal with. …more…
9th June 2009 at 8:20 pm
(4 Votes, Average: 3.50 out of 5)
Loading ...How much information do you tell your friends and family about your finances? Do they know how much your salary is? Do they know what bills you have to pay? Do they know the state of your bank accounts?
I’ve been in circumstances where telling others about my financial situation ended up helping me. And I’ve been in circumstances where it was a disaster. Personal finance is often a touchy subject. You have to determine how much information you should reveal, and most importantly, who can be trusted with that information. …read on…
4th June 2009 at 1:38 pm
(4 Votes, Average: 4.00 out of 5) Loading ...Not many people can resist a good deal. It makes us feel good to save money when we make a purchase, especially when we we’re trying to turn our finances around. Grocery coupons, restaurant specials, and discounts when we use a certain credit card all sound like good ways to save money, but this isn’t always the case.
Years ago I thought I had to use every grocery coupon I had. Otherwise, I’d be missing out on some big savings. My husband and I get numerous coupons for local restaurants, and we would go out to eat more than we should so we made sure to take advantage of the great deals. A department store near us advertises that when we use their store credit card, we can save an additional 10% off the regular and sales prices. I would combine this “special” 10% savings with their “biggest sale of the season” for unbelievable (or so I thought) savings. …continue…
2nd June 2009 at 5:19 pm
(3 Votes, Average: 3.67 out of 5) Loading ...If you’re married or in a committed relationship, you know that it’s important to discuss how the money will be managed. If you’re about to enter into marriage or a committed relationship, don’t think that the money management will take care of itself. This is something that you need to discuss with your partner.
I’ve already mentioned that I never asked my husband what his financial situation was before we got married. This was a big mistake. Money, or the lack of money, can cause major problems, and it’s best to get a handle on how everything will be managed before it’s too late.
One topic to discuss is who will take the responsibility for managing the finances. Maybe one of you is talented in this area and wants to take most of the responsibility. This is fine as long as you both agree to this arrangement. Sometimes couples want to split the responsibility, and this is fine, too. Just remember that you should always know the basics of what is going on with your finances, even if your partner is the one to do most of the transactions and checkbook balancing. …continue…
2nd June 2009 at 12:41 am
(2 Votes, Average: 4.50 out of 5) Loading ...I’ve experimented with different numbers of checking and savings accounts to see what works best for our household. The number of accounts you have will depend on what works best for you. The number of accounts you have may change as your financial situation changes, too.
My husband and I used to be terrible about saving money for anything. We would have great plans for taking vacations, buying big items for our home, or starting an emergency savings fund, but we were never able to save enough money to make any of our plans happen. One of our problems turned out to be that unless we set money aside in a special account for things like vacations, we would find a way to spend it on something else. …read on…
31st May 2009 at 11:06 pm
(3 Votes, Average: 4.67 out of 5) Loading ...There are several ways to go about paying off debt. You can just pick one of your debts and pour as much money as possible into paying it off, you can continue to make minimum payments on your debts and slowly pay them all off, or you can pay extra money to several debts each month. My husband and I tried all of these methods, but we became discouraged with them. We are still paying off our debts, but we have found a debt pay off method that is working for us.
We discovered that focus is the most important thing for paying off debts. When we randomly picked a debt to pay off or tried different ways to pay off all our debts at once, we weren’t focusing. We decided to start with our smallest debt, a department store credit card with a balance around $300. Any extra money we had each month went to pay off the balance of this debt. We paid only the minimum payments on all our other bills. We were able to pay about $75 every month for the credit card and paid off this debt in four months. Then we started applying this $75 to the debt that now had the smallest amount, a credit card with a balance of about $4,000. We were already paying a minimum payment of $120, so now we were able to pay $195 every month. Anytime we came in under budget for the month, we applied this money to the credit card, and we were able to pay this debt off in a little over a year. Then this $195 was added to the payment of the next debt. …more…
31st May 2009 at 4:16 pm
(2 Votes, Average: 5.00 out of 5) Loading ...