After years of hovering at close to zero, interest rates are on the rise. The Federal Reserve raised rates three times in 2017 and twice more in early 2018, with more increases likely. That's good news for savers, but bad news for anyone who's carrying credit card debt. Most credit cards have a variable interest rate, so as the federal fund rate creeps upward, so will the cost of carrying a credit card balance.However, for some people, there's a way of getting out of paying these higher rates, at least temporarily. If you're lucky enough to get an offer for a zero-interest balance … [Read more...]
Amy Livingston
How to Deal with a Lying Spouse – Financial Infidelity in Marriage
Julia has a secret credit card that she hides from her husband, Carlos. Whenever she goes out for a little retail therapy, she uses that card and has the bill sent to her office. That way, she doesn't have to listen to any lectures from him about how much she's spending. She figures what he doesn't know can't hurt him.She's wrong.Keeping money secrets from your partner, like Julia's secret shopping, is called financial infidelity. And according to experts, it can cause just as much harm in a marriage as cheating on your spouse. When lies about money come to light — as they tend to do … [Read more...]
What to Do If Your Wallet or Purse Is Lost or Stolen
One day I was walking down the street minding my own business when a kid ran toward me and grabbed my purse off my shoulder. I tried to hold on to it, but he shoved me off and jumped into a waiting car, which took off down the street.As I turned around and walked empty-handed toward the police station, there were two thoughts uppermost in my mind. The first was the license number of the car, which I kept repeating to myself because I had no way of writing it down. The other was what a huge hassle that one moment of inattention was about to cause me.I'm one of those people who keeps her … [Read more...]
Labor Unions in the United States – How They Work, Pros & Cons
When you read news stories about the middle class in America, you often see terms such as "squeezed" or "declining." As a 2017 study by the National Bureau of Economic Research points out, average lifetime earnings for U.S. workers have been stagnant for decades, even as the cost of a middle-class lifestyle has risen sharply.Politicians on both sides of the aisle deplore this trend, blaming it on everything from tax policy to immigration. But there's one piece of the picture that they tend to overlook: the decline of labor unions.According to the Center for American Progress (CAP), a … [Read more...]
How to Save Money With Your High-Speed Internet Service Provider
Let's get this out of the way right up front: Internet service in the U.S. is a mess.According to the latest Internet Access Services Report from the Federal Communications Commission (FCC), 40% of Americans can't connect to the Internet at broadband speed (25 Mbps or better). About 3.9 million households - 3.7% of all those with a fixed Internet connection - can't even connect at 3 Mbps, which Netflix considers the minimum speed needed to stream video at standard quality.To add insult to injury, we're paying through the nose for this lousy service. According to data from cable.co.uk, … [Read more...]
Men, Women & Money – How the Sexes Differ With Their Finances
The differences between the sexes can be a pretty touchy subject. Whenever you talk in general terms about men and women, you must pick your words carefully so you don't sound like you're promoting sexist stereotypes. Sometimes it seems safer to ignore the whole idea and stick to talking about "people," as if men and women were entirely the same.But the reality is that there are some areas where that's clearly not true - and money is one of them. From the things they spend money on to the way they invest, men and women take different approaches to dealing with money. Men are more likely to … [Read more...]
Cheapskate vs. Frugal – 12 Signs You May Be Crossing the Line
Frugal living gets a bad rap sometimes.A good example of this is the TV show "Extreme Cheapskates" on TLC, which goes out of its way to show penny-pinchers in the worst possible light. Tune into this show and you'll see one self-proclaimed cheapskate proudly scooping leftovers off other diners' plates in a restaurant while his wife cringes in the background, or another one serving her friends food that she scavenged from a dumpster. Watching these folks, you wonder: Is this what frugality really means? Does saving money have to mean acting stingy, embarrassing my family, and alienating my … [Read more...]
How to Remodel Your Kitchen on a Budget – Costs & Design Ideas
Remodeling a kitchen is a big - and expensive - project. According to HomeAdvisor, the average kitchen remodel costs $22,185, and a full-scale remodel with custom cabinets, granite counters, and high-end appliances can come to $30,000 or more.If you're a homeowner with big kitchen dreams and a small budget, your heart is probably sinking as you read these numbers. But don't give up hope yet! There are a lot of ways to stretch your kitchen remodeling budget. With the right combination of patience, creativity, and elbow grease, you can make a big impact in your kitchen for a few thousand … [Read more...]
Mortgage Relief & Loan Modification Scams You Should Watch Out For
The Johnsons were terrified of losing their home. Mrs. Johnson had recently lost her job, and they just couldn't meet their mortgage payments on one income. When they saw the flier promising to save their home from foreclosure with "Guaranteed Results," it seemed like a godsend. The company promised that, for a fee, it could get them a new mortgage at a lower, affordable rate.The Johnsons eagerly handed over the fee, but the company never called them back. The business that said it would help them was nothing but a financial scam to get their money.This story is fictional - but the … [Read more...]
How to Stop & Avoid Foreclosure on Your Home
In 2017, more than 676,500 American homes went into foreclosure, according to Attom Data Solutions. That's roughly 1 out of every 200 homes in the country. This is better than the peak rate in 2010 when more than 2 out of every 100 homes were in foreclosure, but it still represents hundreds of thousands of people being forced out of their homes because they couldn't meet their mortgage payments.Homeowners can end up in this situation for many different reasons. Some lose their jobs and can no longer make ends meet. For others, a health crisis leaves them with hefty medical bills that eat … [Read more...]
18 Graduation Gift Ideas for Her & Him on a Budget
As the school year draws to a close, eager high school and college students are looking forward to graduation - and their friends and relatives are looking forward with a mixture of pleasure and anxiety to the graduation announcements. Along with pride for the new graduate and pleasure at being invited, the sight of that crisp white envelope can bring a rush of panic as you wonder, "Does this mean I have to get a gift?"First things first: According to Emily Post, you are under no obligation to send a present if you're not actually going to the graduation. In that case, all you need to do … [Read more...]
