Filed under: Banking
Local news outlets in the state of Washington are reporting that legislators there are considering launching a government-run bank to compete with the “too big to fail” banking behemoths. The idea might sound strange, but it’s not without precedent: North Dakota has had a state-run bank since back in 1919, and by all accounts, it’s successful.
Other states, including Illinois, Virginia, Massachusetts, Maryland, Florida, Michigan, Oregon, California and Hawaii, have looked into the idea of creating their own state banks, intrigued by the amount of money North Dakota has been able to earn through its bank. (Continue the story…)
Filed under: Debt, Credit Cards
This is the third installment in our Paying Off Your Debt series that looks at how real people beat their debt for good.
Sandy Reid, 41, got into debt the way a lot of people do — with help from a spouse. “My husband and I were living large on a small income,” says Reid, who has been divorced for a little over 10 years and debt-free for about six months.
(Continue the story…)
Filed under: Debt, Credit Reports
Your credit score impacts your ability to get out of debt and stay out of debt. The worse your credit score, the higher the interest rate you will be charged on money you borrow. The better your score, the less your debt will cost you and the quicker you’ll be able to pay it off.
Continue reading A 12-Step Action Plan to Improve Your Credit Score
(Continue the story…)
Filed under: Retirement, Saving Money, Investing, Retirement – 401(k)
Part of planning for retirement is a math exercise — figuring out how much money you have, how much you need and how to best save enough to build a big enough nest egg before you hang up your work boots.
(Continue the story…)
Filed under: Retirement, Saving Money, Investing, Retirement – 401(k)
Part of planning for retirement is a math exercise — figuring out how much money you have, how much you need and how to best save enough to build a big enough nest egg before you hang up your work boots.
(Continue the story…)
Filed under: Debt
Being in debt isn’t fun. While that’s hardly groundbreaking news, that’s the bottom line of a survey released last week by GreenPath Debt Solutions. Obvious or not, the survey still has some interesting nuggets about what it’s like to be in debt, useful information to anyone who knows they’re in trouble but wonders just how much trouble that debt is going to be.
Continue reading Survey Finds That Being in Debt Is No Fun
(Continue the story…)
Filed under: Banking, Saving Money, Banking – Checking Account
You’re not imagining it: Banks, especially big ones, have been overhauling their offerings and piling on the fees lately. And while some banks have started dishing out goodies like coffee and danish, don’t be distracted by the tasty treats — they’re just there so you won’t notice just how crazy this fee-creep has gotten lately.
(Continue the story…)
Filed under: Retirement, Retirement Advice
It was too good to last. For years, I (and every other financial expert on the planet) was able to tell people that they could tap Social Security at age 62, pay the money back later on – no interest required – and draw a higher payout years down the road. It was perfect. In effect, a no-cost loan from the government, making up for all those years you let Uncle Sam hang on to more of your tax dollars than he was entitled.
Well, those days are gone – or at least they’ve been minimized. New rules from the Social Security Administration put a cap of a single year on the amount of time you have to apply, pay back and apply again. It’s not worth the trouble. But strategizing to get the most you possibly can from Social Security – a key part of most retiree’s paychecks – is worth more time and energy than many people give it. Here are a few tactics to keep in your back pocket: (Continue the story…)
Filed under: Debt, Consumer Ally, Credit Cards
Three debt-relief companies and their owner have been banned from the business under a settlement with the Federal Trade Commission for phony claims about their ability to help consumers eliminate credit card debts and halt harassing calls from debt collectors.
(Continue the story…)
Filed under: Retirement, Saving Money, Wealth, Retirement Advice
Living off a retirement nest egg can be a daunting prospect. Even if you’ve saved diligently, converting that money to a monthly paycheck is no slam dunk.
(Continue the story…)
