Three Calming Strategies for Managing Money Anxiety
Mo’ money, mo’ problems? It’s one thing for The Notorious B.I.G. to say, but if you’re experiencing financial stress in your daily life, you’re not likely to agree. When you feel like you can’t make ends meet, it may seem like money is the cause of (and solution to) all your challenges. Here are a…
Read MoreHow should I pay off medical debt that’s been sent to a collection agency?
“My debt from an unpaid urgent care bill has been sent to a collection agency. What is the best way to go about paying off this debt?” Submitted by Jessica J. Medical debt is a huge financial stressors for many people. Taking action early is the best way to get it under control. Double-check your…
Read MoreTeaching Your Kids to Save Money
Think about the lessons you learned about money. How do the messages you heard in your early years impact the way you view and manage money today? Research shows that lifelong money habits are formed early. In fact, psychologists believe that by age 7 (I know, right?), kids have already developed long-lasting attitudes about money.…
Read MoreWhy isn’t my credit score improving?
I’ve been paying my bills every month on time and nothing changes on Credit Karma. I feel like I’m stalking the app. What should I do? Submitted by Michelle S. Congrats on paying your bills on time! Can we just celebrate that for a moment? What Impacts Your Credit Score Paying your bills will not…
Read MoreHow do you get out of an upside down car loan?
How do you get out of an upside down car loan when you have bad credit and no one is willing to refinance? Submitted by Nichole B. You have touched on a hot button for me! In the early 90s, I had a car that was so upside down my grandchildren would be paying the…
Read MoreDo you recommend credit consolidation?
Do you recommend credit consolidation to improve scores and decrease debt? Submitted by Natasha P. There are two parts to this question, so let’s dig into them separately. Improving Your Credit Score Whenever a financial institution pulls your credit with the purpose of offering you a loan, your score may be affected. Closing a credit…
Read MoreWhat is an Opportunity Cost?
Opportunity cost is an economics concept with huge implications in every aspect of our lives. To put it simply, when you say “yes” to one thing, you are saying “no” to another. Opportunity Cost in the Real World Let’s try an example. Say your goal is to build healthier habits by exercising every day. When…
Read MoreHow many credit cards should I have?
“Hi Saundra! As someone who is getting her credit back in order, I want to be wise about applying for credit cards. I have two and working hard to keep them both under 30% utilization. I’m considering applying for one last card. How many credit cards is too many?” Submitted by Laurin O. There are…
Read MoreWhat Does It Mean to Refinance a Mortgage?
Let’s start with the basics. Refinancing simply means that you’re replacing your existing loan with a new mortgage. Reasons for Refinancing a Mortgage If you’re considering refinancing, your reasons may include: A lower interest rate Shorter (or longer) term to pay off the loan or cash out equity Changing the type of mortgage (you may…
Read MoreHow can I get a loan for a cheap used car?
Hello, Saundra! How do I go about finding and choosing a certain type of loan (if one exists) that would enable me to quickly buy a cheap used car (around a couple thousand) that I could be able to pay back (with no job/income) with only the money I have saved from last semester’s student…
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