Following the state of the economy for more than a year has been a painful experience for consumers. Few need to be reminded of the hardships people have faced. The news doesn’t appear to be as bleak in recent weeks, however the economy is still troubling and will likely remain that way for some time.
Most people are familiar with the saying, “desperate times call for desperate measures”. The question is: have consumers adapted to tough times by changing their lifestyle or have they proceeded as normal hoping things will improve?
The basic principles and practices of good personal finance haven’t changed over the years, however as a society we have altered what is normal or acceptable behavior. For the first time … (more) April 28, 2009

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If you’ve just been laid off or fear you are next on the list for being laid off, there are a number of things you can do to help ease this difficult financial time period. If you haven’t established an emergency fund or the funds you have isn’t adequate for sustaining your expenses for a long period of time, you’ll want to try some of the following tips for surviving a layoff:
Reduce Your Expenses: at first glance, you may not think you have any expenses that could be reduced. It’s time to get serious though and differentiate between your necessities and your wants. When you are laid off, you need to focus on fulfilling your necessities first – your wants … (more) April 19, 2009

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Schools do not teach our children much about financial management. It is up to the parents and guardians to teach effective money management techniques to ensure that children grow to be adults who know how to manage their finances. Here are some tips to help you get started:
Piggy Bank: Start simply and gear the methods to your child’s age. Starting when your child is between the ages of three and six is a great time to begin teaching the basics of saving. Children love piggy banks and putting the change into the slot! Whenever your child receives money for holidays and birthdays, or if you decide to give a small allowance to your child, show them how a portion of … (more) April 18, 2009

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Adding insult to injury as you try to get out from under debt, scammers who take advantage of your financial vulnerabilities can make your strides towards a debt free life even more difficult if you fall for their tricks. As more people are turning towards third-parties for assistance with their finances, there are more consumers who are being taken by con artists who are only interested in money.
While consumers have the best intentions when seeking outside help, many do not do the proper planning or research needed to ensure they are dealing with an above-board company. They fail to check the histories of so-called credit counselors in their rush to find debt freedom. But not doing their due-diligence can quickly … (more) April 14, 2009

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Most consumers would have less difficulty paying off their credit card debt if only they could do away with interest charges and other fees. The likelihood of interest free credit cards in the near future are slim to none but that doesn’t mean you can’t do anything about the fees associated with you account.   Late payment fees have tripled in the last decade resulting in a lot of wasted money when your payment is received after the due date. Worse than paying a higher fee is the fact that this particular fee is one of the few things that is completely within your control. If you make sure your payment gets credited on or before the due date, you don’t have to worry … (more) April 13, 2009

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When people go shopping for a credit card, most will compare the various card features and benefits and use that information to make their decision as to which credit card to apply for. People use credit cards primarily because they give them away to purchase an item and pay for them a little at a time, instead of coming up with the cash all at once – but that same buy now, worry-about-paying-later mentality has gotten a number of people into financial troubles.
If you use a credit card correctly though, they actually give you a little something back. You probably chose your credit card because of some of these features – but chances are you haven’t used them because you … (more) April 10, 2009

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