Monthly Archives: April 2018
The Financial Empowerment Center is…
Should you hire a service to negotiate your cable bill or other bills? This may be helpful if you have a large bill to negotiate such as a landlord who has several properties with a need for cable service. The savings may be much less for the individual household, but it is always worth a try especially if you are uncomfortable with the negotiation process. Internet, cell phone, cable bills and other monthly bills may be difficult to reduce due to the contract agreements that lock you into a one or two year plan. However, it may be worth a try to see if it works for you. Instead of one bill give the negotiator company several bills to see if there are savings for you. The services such as BillCutterz or BillFixers are new on the market and are not in widespread use at this time.
https://www.moneytalksnews.com/should-you-hire-someone-negotiate-your-cable-and-other-bills/
Become a proactive consumer to get rid of bad marks on your credit report. Get a copy of your credit report and determine if the items listed are accurate. If not, you can contest the item(s) through the credit reporting agency. If the item isn’t confirmed by the credit reporting agency within thirty days the item will be removed. Most items stay on your credit report for as long as seven years or ten years for a bankruptcy. Check all three credit reporting agencies EVERY year. Consider seeking a copy of your credit report for example from Experian in January; Transunion in April, and Equifax in August. Remember to make payments to your creditors every month (in small amounts) if necessary to avoid defaulting on your debt.
https://twocents.lifehacker.com/how-to-get-rid-of-bad-marks-on-your-credit-report-1824298301/amp
Starting this month credit card networks are dropping signature requirements. The use of chip technology and other security enhancements will significantly reduce fraud. American Express, Discover, VISA and Mastercard will no longer require signatures nationwide and this will also speed up customer checkout lines. If you have not converted your credit cards to chip technology contact your credit card company to make this important change today.
Rising interest rates are a sounding an alarm for consumers in debt. If you have a credit card balance or a variable loan, and mortgage loans. The rising interest rates means that you will pay more over the life of the loan. Last year, credit cards increased 9.4 percent reaching $3.5 trillion dollars. Credit card delinquencies are climbing and may signal the time to find zero percent credit cards. Credit card balance transfers will allow additional time to pay off debt before interest rates resume with a lower balance owed. The error of low interest rates may not return any time soon and consumers must prepare for what is ahead to avoid paying more that they should.
http://finance.yahoo.com/news/rising-rates-sounding-alarm-bells-090000018.html
Yes, April Is Financial Literacy Month!
Since 2003, the United States has recognized April as Financial Literacy Month. Information sharing on all age levels includes how to use a budget, reduce debt, save for an emergency, and best practices for credit card use. As a rule schools and the workplace need to do more to encourage financial literacy. The best success for financial literacy appears to be in faith-based organizations that develop long-term relationships with congregants and members of the community.