Personal Finance & Money Management
Avoid student loan pitfalls, understand how AI may affect lending decisions, and spot retailer tactics that drain your wallet. Protect your finances, secure better loan terms, and make smarter purchasing decisions.
Student Loans Have Differences That You Should Review Carefully Before Accepting the Money
Applying for student loans isn't fun or easy. When you finally get a loan offer, you may be so excited that you accept it right away without any hesitation. But you should be doing your research on all student loan offers before accepting one. There are many different types of students loans available and each one has different considerations that can make a huge difference when it's time to repay.
Your Next Loan May Be Based More on Your Smartphone and Other Data Than Your Credit Score
The days of using a handshake to secure a loan are a distant memory. Today, artificial intelligence powers all sorts of business practices, from what Walmart sends to each store to which boxes should go on delivery trucks. But artificial intelligence goes beyond shipping. In fact, your next loan decision could be based upon an artificial intelligence as much as a credit score. So how does it work?
Knowing About the Sneaky Sales Techniques Used by Most Retailers Can Help You Save Money
Have you ever gone to the store with a careful plan to make a purchase for a certain price and leave feeling overcharged, cheated, or even scammed? This has happened to even the most savvy shoppers. Retailers use sneaky tactics to lure you to the store and to get you to spend more money than you expected. But knowing about how they do it can help you keep your hard-earned money in your pocket.
Low Interest Auto Financing Might Not Save You the Most Money if Incentives Are Available
Depending upon your credit history and the market, you probably haven't been offered a low interest car loan rate often. They do exist, but are usually specials to move only certain cars that just won't sell. Even if you are offered a low interest rate, you can probably save more money with rebates and other incentives and then taking a higher interest rate or getting your own financing elsewhere.
How To Save Money On A New Car And Survive the Car Dealership Sales Pitches And Tactics
Driving away in your new car is exciting, but the process of buying that car can be daunting. Even if you've purchased several cars before, you probably don't know much about the nuances of the car buying process other than the hassle and headaches it sometimes causes. If you take your time, learn the tricks of the trade, and refuse to let the salesperson have control, you can save a lot of money.
Understanding the Value of a Dollar: How Should You Teach Your Children About Saving Money?
When parents are trying to save money, they often make it a goal to include the whole family in the effort. This involves teaching children how important it is to save. As simple as it sounds, however, this task is often challenging. Many children, especially young ones, don't understand the concept of paying money for products or services. So how can parents teach them and make it a family affair to save?
Federal Laws Don't Mandate Credit Checks if You Bring Your Own Financing to the Car Dealer
Whether you are the kind of shopper who already has financing in-hand when going to check out new cars or if you just have a sudden urge to stop by the dealer's lot on the way home, there's something you need to know to avoid becoming a victim of an unscrupulous car dealer tactic. Regardless of what the dealer says, the USA PATRIOT Act of 2001 does not require the dealership to check your credit.
Most People Don't Know Enough About Credit Scoring, So Here Are the Things You Need to Know
Most people are able to answer basic questions about credit scoring, but don't really know as much as they should. Most people don't know details or get things wrong. Because credit scores play such a vital role in how much you pay when borrowing money, it's important that you understand some key things about credit scoring. Knowing some of these things can save you a lot of money in the long run.
The Fair Debt Collection Practices Act Gives You Some Debt Collection Practice Safeguards
No one is perfect, and we get that. Despite our best efforts, sometimes mistakes happen and bills go unpaid. It's when debts pile up that debt collectors reach out in an attempt to collect on those debts. It's important to know that there are some rights and protections you have from the Fair Debt Collection Practices Act that can help you breath a little easier when debt collectors come calling.
How Late Can You Make Your Payments Before They Negatively Affect Your Credit Worthiness?
Most people know that late payments on credit cards, car loans and mortgages affect their credit scores and their credit worthiness. But few people know that late payments don't always get reflected on credit reports. In fact, payments must be at least thirty days late before they can be reported to the credit bureaus, which gives you extra time to fix the issue if you happen to forget a payment.
Mandatory Arbitration Clauses Are Everywhere but Aren't Really That Good for the Consumer
You may have heard of arbitration, but you probably don't know exactly what it entails. Arbitration is another method of resolving disputes where parties present their sides of a complaint to an independent person who then decides on the rules, facts of the case, and arguments before making a decision on the dispute. It's similar to court proceedings, but you're not in front of a judge or a jury.
Medical-Related Savings Plans: You Can Save Money on Taxes With Flexible Spending Accounts
If you have a health plan through a job, you may be able to use a Flexible Spending Account (FSA) to pay for copayments, deductibles, some drugs, and some other health care costs. Depending upon the extent of your health costs, participating in an FSA can help you save money by reducing your taxes at each paycheck. But be careful. If you contribute more than you spend, your unused funds disappear.
Don't Be Afraid to Appeal the Financial Aid Decisions You Receive for Your Higher Education
Although college isn't for everyone, the fact remains that college graduates earn more today than high school graduates. Yet the cost of higher education often discourages many people from pursuing it. But many people don't know that the financial aid offer from the school doesn't have to be the final word on the matter. You can use these tips to reevaluate your financial aid decision to save money.
Behind on Your Auto Loan: Tips to Get You Back on the Road to On-Time Payments Once Again
Ensuring that you pay your bills on time is essential to maintaining or improving your financial situation. Late payments will show up on your credit report, hurt your credit scores, and limit your ability to get other credit. So what should you do if you're one of about 7 million people who fall 90 days or more behind on your car payments? There are things you should do when calling your lender.
Credit Cards Are Convenient, but Cause Unexpected Headaches When Traveling Internationally
If you're planning to take a trip outside the country, your credit cards may not be much of a priority. But if you're not careful, you can rack up a lot of unexpected fees and charges, which can tarnish the memories of your trip. Never assume that your credit cards will work the same way abroad as they will at home. So before you use your credit cards outside the country, keep these things in mind.
Here's How You Can Cash in on Those Unwanted Gift Cards You Got in Your Christmas Stocking
People often receive gift cards from people they don't know too well. While the thought is nice, there's a good chance the gift card will be for a store you never visit or that sells things you would never want. But even if the card you get is for your favorite store, there's still a chance you'll forget about it. So if you have an unwanted gift card or two, there are a few options to put it to use.
Feel Like You're Drowning in Credit Card Debt? Here's How to Get and Keep Control of Your Finances
If you decide to try to get your finances in order this year, it may take some trial and error. Keep in mind that you have not failed if one method doesn't work. You simply need to try a different approach.
Weigh the Risks and Benefits if You Want to Help Your College-Bound Child Get a Credit Card
It used to be so easy for college students to get credit cards that they were inundated with credit card offers. The result was a student with too many credit cards and a corresponding high amount of debt. But once the Card Act was passed, it became much more difficult for those under 21 to get a credit card. They can still get credit cards, but they need their parents to help. But should you help?
Know How to Properly Cancel Recurring Payments and Which Legal Protections Exist for You
Recurring billing is great for our often busy schedules. But preferences sometimes change and you no longer wish to have a payment drafted automatically. So before you sign up for automatic payments, you should know how to properly cancel them, how to deal with cancellation problems should they arise, and know which laws exist to provide you with protections in case you are unable to cancel them.
Dozens of Credit Scoring Models in the Credit Industry Each Give a Different Credit Score
Most people don't know that there isn't one true credit score. In fact, there are a number of different credit scoring models and they vary from one company to another. So it's important to realize that when you check your credit score, whether from one of the major credit reporting agencies or just from your credit card company, it isn't necessarily the score that's used for your credit decisions.
How Much You Should Tip and When You Should Tip in Today's Changing Service Sector Economy
Tipping is something of a no-brainer for some people and a source of instant anxiety for others. It's getting especially complicated now that businesses where you didn't tip before now include a tip option. Or maybe you are presented with a tip option on the display at the register while the clerk is watching you. So when is it customary to tip and when should you just take your stuff and leave?
Helpful Tips for Safeguarding Your Sensitive Personal Information When Using Mobile Banking
Technological advances have made our lives easier. But those advances also make us vulnerable to criminals looking for a quick buck. Mobile banking is one way our lives are now easier. But mobile banking can also leave your door wide open to hacking and identity theft if you slip up or become careless. Review our helpful tips to make sure you're protecting your money and information the right way.
Are You Ever Allowed to Spend Money That Was Mistakenly Deposited Into Your Bank Account?
Have you ever found extra money in your bank account? It happens more often than you might think! It only takes a moment for a bank teller to key the wrong digit when entering an account number. And most of us don't double check the account numbers after we complete a transaction to make sure nothing went wrong. So are you allowed to keep any money that is mistakenly deposited into your account?
What Exactly Are Those Mystery Fees and Charges That Appear Each Month on Your Phone Bill?
Whether you have wireless phone service, a landline, or even both, you know that you can expect to get billed for it monthly. But you may not know what each of those fees and charges listed on the bill actually mean. They can add up quickly, so get to know your bill now and make sure you understand what each of those monthly phone bill charges mean beyond spending a few extra dollars each month.
You Can Get Free Credits Reports Each Year Without Having to Enroll for Expensive Services
You hear about free credit reports everywhere, but they're rarely free. In fact, you'll probably have to enroll for future recurring charges or pay fees for other unanticipated services. Before you jump into something that you don't fully understand, you should know there is a truly free option out there. You can get a truly free credit report each year from each of the three major credit bureaus.
Watch Out for These Red Flags of Credit Repair Scams and Avoid Companies That Display Them
A financial setback is devastating, especially to your credit rating. Repairing the damage to your credit afterwards can seem impossible. During these times of anxiety, it can be easy to fall victim to scammers wanting to take your money with promises of repairing your credit history. Before you fall victim to credit repair scams, look out for these red flags and avoid companies that display them.
The Fair Credit Reporting Act Guarantees You Basic Rights and Protections for Your Credit
You might already know that you have a right to a free annual credit report from each of the three major credit reporting bureaus. But a federal law, the Fair Credit Reporting Act, gives you additional legal rights and protections. It protects you from the willful or negligent inclusion of inaccurate information in your credit report that can cause you to be denied credit or favorable credit terms.
The Secrets That Stores Try to Keep From Customers and How You Can Use Them to Save Money
Bargain hunters already save money regularly by cutting coupons and shopping during store sales. But there are many other ways you can save money when shopping that the stores try to keep secret from you. So what do you do to save some money on your next shopping trip? Combining these shopping strategies with coupons and store sales can help you save as much of your hard-earned money as possible!
There Are a Number of Things You Shouldn't Do if You're Trying to Buy a Car With Bad Credit
Unfortunately, it's a fact of life. Not everyone out there has a great credit rating and not everyone has a good credit rating. Even if you have really bad credit, you can still make purchases on credit but for a heavy price. If you are one of the unlucky people with bad credit and you're in the market for a new car, there are some things you should never do or you'll find yourself deep in a hole.
Your Credit History and Your Credit Score Can Raise or Lower Your Auto Insurance Premiums
Your credit history affects the price you pay for new credit, such as mortgages, car loans and credit cards. But your credit history may also affect the price you pay for car insurance with insurance companies, which can cut into your budget. So unless you live in California, Hawaii, and Massachusetts where the practice has been banned, you should know how your credit can affect your premiums.
Title Loans May Give You Quick Money but Cost Thousands of Times More in Interest Charges
Are you strapped for cash? You aren't alone. Many people these days could use extra money for bills. To target people who need quick money, some lenders advertise short-term loans, called title loans, that use the collateral of your car. It's similar to a home equity loan, only a title loan can be much riskier and cost you a lot more money in interest charges. It can even cost you the car itself.
Rebuilding Your Finances After a Disaster Is Much Easier if You Take Some Basic Steps Now
In the days following a disaster, your first priorities are the safety of your family and meeting your day-to-day needs. But as help arrives and rebuilding begins, it is important to take smart and decisive steps to start putting your finances back together. If possible, you should take steps to start this process now before disaster strikes to make recovering from the unexpected much easier.
If You Lose Your Credit or Debit Card Only to Find It a Short Time Later, Cancel It Anyway
Have you ever lost your wallet or purse? Or maybe you've given your credit or debit card to a cashier only to walk away without it? Well, you're not alone. It's happened to pretty much everyone at one time or another. If you lose your credit or debit card only to find it a short time later, you may think nothing more of it. But you really should consider canceling the card and requesting a new one.
Yo-Yo Auto Scams: Your Financing 'Fell Through' So You Have to Return the Car or Pay More
You've finally filled out the lengthy paperwork for your new or used car and drive it home in triumph. Everything is done, right? But you may get a phone call a few hours, days or even weeks later from your dealer saying that your financing fell through and that you have to return the car or agree to different financing terms. That's illegal. If a dealer tells you this, it's time to get help.
Some Student Loan Debt Relief Companies Want to Steal Your Money, Not Help You Save Money
If you have continued your education, the odds are pretty good that you have had a student loan at one time or another. Whether you have just signed for your first student loan or if you are trying to pay off several, it can be tempting to jump on any opportunity that promises to wipe away some or all of your student debts. Scammers want you to forget that there is no easy way to wipe out your debt.
Beware of Graduated Payment Plans That Promise Very Low Payments When You Buy Your Next Car
If you are in the market for a new vehicle, steer clear of dealers that use graduated payment plans to lure you in. Dealers that offer these types of payment plans often use a variety of ads and even paid programming spots aired late at night or on weekends in an effort to hook you with promises of no money down and exceptionally low monthly payments that later skyrocket to insanely high amounts.
Avoid Balance Transfer Credit Card Traps That Can Increase Your Total Debt, Not Reduce It
When trying to get out of credit card debt, many people want to transfer their card balances to one or more balance transfer cards, which often have a zero percent promotional interest rate. When used correctly, these cards can be a great way to help you get out of debt faster. But if you're not careful, balance transfer cards can put you further in the hole with a lot of unexpected fees and terms.
You Can Save Money by Understanding the Fees and Costs When Buying and Selling Real Estate
Between the showings, inspections, and paperwork, it's easy to lose sight of how much you are paying for various things when buying and selling real estate. Most expenses are lumped into closing costs, which is the figure you pay at the end of the process to complete the transaction. You can save a lot of money if you pay attention to closing costs and understand exactly where your money is going.
Class Action Lawsuits Seem Good but Have a Lot of Drawbacks That Don't Make Them Very Ideal
We're sure you've heard people talking about how much a class action lawsuit is needed for a particular legal problem. But most people really don't know anything about class action lawsuits, let alone the potential drawbacks they can bring. While class action lawsuits can do good by (eventually) punishing a company for doing wrongs, it's usually the lawyers, not the consumers, who get a fat check.
Tips for Shopping Smartly and Safely This Back-to-School Season
It's that time! All across North Carolina and beyond, parents, students, and teachers are preparing for the beginning of a new school year, which means stocking up on all the necessary school supplies.
Should You Buy Refurbished Products or Just Spend the Extra Money for Something Brand New?
Electronics items are hot sellers when it comes to refurbished merchandise. Refurbished electronics, after all, are much cheaper than buying something brand new. But many consumers have questions about whether this type of product, or any product, is worth the risk that comes with the lower price tag. Should you chose refurbished? It really all comes down to the cost and who did the refurnishing.
Keeping a Copy of Everything in Your Wallet Can Help You Recover if It Gets Lost or Stolen
Have you ever lost a credit card only to realize that you didn't know how to reach the bank to get a new one? If you lose your wallet, you might not know who to contact, which can be a problem if you're traveling. But there's something simple you can do to ensure that you can contact your financial institutions quickly in the event of a lost or stolen wallet, especially if you have a lot of cards.
Student Loans: Know About the Various Options for Lowering and Eliminating Monthly Payments
Student loans are complicated and many things can go wrong when inexperienced young people have to pay back the money. If you're a first-time borrower, you need to know the basics about paying back student loans and the different ways you can reduce or eliminate your payments. If you already have student loans, now is a good time to take a second look at your terms and the path to paying them off.
Tuition Payment Plans Can Help Pay for Higher Education and Make Student Loans Unnecessary
Students getting ready to go college have a lot on their minds: finding classes, decorating dorm rooms, catching up with friends, and figuring out the best way to balance a job. With these concerns weighing heavily on their shoulders, many students and their parents would prefer not to worry about how to pay for college tuition. But there are some options available to help make things a bit easier.
When You Are Allowed to Cancel a Sale Under the Federal Trade Commission's Cooling Off Rule
Far too many people are confused about their rights when it comes to cancelling a sale, particularly for vehicle purchases. Some people will say that you have three days to cancel a sale or return a product for a full refund. Others say that you have seven days. Some will say that you have no right to cancel a sale and that all purchases are final. So what's the truth? When can you cancel a sale?