The States With the Most Credit Card Debt

Managing Debt

The States With the Most Credit Card Debt

The States With the Most Credit Card Debt

The list of states whose residents carry the most credit card debt hasn’t changed much in the last few years — Alaskan credit card holders consistently carry the highest average balances, and most of the 10 states with high debt are along the East Coast. America’s average credit card debt per person has gone up recently,… Read More

Why Rich People Still Need Good Credit

Credit 101

Why Rich People Still Need Good Credit

Why Rich People Still Need Good Credit

Wealth is pretty subjective: Average wage-earners can go through life debt-free and have money to spare upon retirement, while millionaires have been known to mismanage their finances and end up bankrupt. The figures on your paycheck carry you only so far, because business partners, employers and lenders won’t care how much money you make if… Read More

7 Habits Leading You Into Debt

Managing Debt

7 Habits Leading You Into Debt

7 Habits Leading You Into Debt

Some habits make it a lot harder to save money — or to stop spending it. Because sometimes our routines lend themselves to parting with money without giving it a second thought. (I have heard that you can stop at Target for a single item, but it’s not something I’ve managed to accomplish.) In fact, there… Read More

5 Things to Do After Bankruptcy

Managing Debt

5 Things to Do After Bankruptcy

5 Things to Do After Bankruptcy

So you filed for bankruptcy and received your discharge. Whether you have a Chapter 7 (a “simple” bankruptcy) or Chapter 13 (debt repayment plan) bankruptcy, it’s a good idea to make sure you do the following things once your case is finalized. 1. Collect & Preserve All Paperwork From Your Case You should have received… Read More

Can You Get a Credit Card With No Salary?

Credit Cards

Can You Get a Credit Card With No Salary?

Can You Get a Credit Card With No Salary?

Molly wants a new credit card and has her sights set on one issued through a community bank. But there’s a problem: She doesn’t have an income, at least not in the traditional sense. “My income is almost all from investments,” she wrote in an email. “My business actually runs at a deficit, and gross… Read More

What Is Amortization?

Mortgages

What Is Amortization?

What Is Amortization?

Calculating how much home you can afford can be difficult and feel overwhelming. You need to consider how much down payment your finances allow as well as the monthly payments you can realistically make before finding the right home. One term you will hear during the mortgage phase of buying a home is amortization. It’s… Read More

FICO vs. FAKO: What’s Your Real Credit Score?

Credit Score

FICO vs. FAKO: What’s Your Real Credit Score?

FICO vs. FAKO: What’s Your Real Credit Score?

There are a lot of different credit scores out there, and this has naturally led some consumers to ask: Which scores should I pay attention to, and what’s my real credit score? People gravitate to the well-known FICO score, by all accounts the market leader in credit scores (meaning more banks use FICO scores than other scores). In… Read More

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