Monthly Archives: August 2018

We all recognize the rising cost of a new vehicle and to repay your car loan may take as long as 5-7 years. Regular maintenance to include oil and filter changes can add to the life of your vehicle. If you are in the market for a new or used car consider the follow model that are more likely to remain on the road for 15 years:

The top 15 vehicles are:

• Toyota Highlander
• Toyota Sienna
• Toyota Tundra
• Toyota Prius
• Toyota RAV4
• Honda Odyssey
• Toyota Sequoia  and more:

https://www.moneytalksnews.com/the-15-cars-youre-most-likely-to-drive-for-15-years/

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If you want to saving money at the pump, use regular gas instead of premium. If you car manufacturer RECOMMENDS premium, by all means follow it. If you have an option, consider using regular to save money. This will keep more cash in your pocket. Each year, American drivers waste a collective $2.1 billion purchasing gas that is a little to good for them. A recent AAA report earlier this year found that these drivers pay for high-octane gas even when it is not required or recommended for their vehicle. If your car makes a pinging or knocking noise on regular gas, however, you should have it checked out by an honest and qualified mechanic and probably switch to premium gas, AAA says.

https://www.moneytalksnews.com/many-drivers-who-make-this-choice-are-wasting-money/

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Several regular people in New York City were asked about the best and worst financial advice they ever received. In most instances people were told by their parents to save money for a rainy day, retirement, and use a budget. In a few cases, individuals were advised to spend while they were young and enjoy life to the fullest – people often ignored this advice and followed their instincts to spend wisely. We get many of our earliest memories about money from our parents and this often informs our views and habits about money for the rest of our lives. We can learn throughout our lives and this will make a difference in how we spend, save, and invest.

http://amp.businessinsider.com/people-in-new-york–city-best-worst-money-advice-2018

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Checking your credit report is the best way to see how you are doing based on the (3) credit reporting agencies, Experian, Transunion, and Equifax. About 20 percent of consumers have a mistake on their credit report. Periodically, check for errors and correct them before you make your next large purchase such as a car, boat, or a home. Don’t be surprised of your loan is denied, especially if you have not check ahead of time.

High credit scores translate to saving money on loans and credit cards. Understanding how your report affects your score can help you push your number higher. It appears, 14 percent of adults don’t check their credit reports due to fear of what they will find.

Fair Credit Score – 580 – 699 will pay about $45,000 more in interest over their lifetime on loans and credit cards versus a consumer with very good credit score of 740 or higher, according to recent research from LendingTree.

https://www.cnbc.com/amp/2018/08/07/not-checking-your-credit-report-comes-with-risks.html

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This is a question many have asked in recent years…What is best for your family depends on you particular circumstances. A fixed interest rate works best for long term mortgages, where the homeowner plans to remain in the home for long term and the interest rate remains stable. Adjustable interest rates on the other hand, are beneficial if the homeowner plans to be in the home for a short duration less than ten years and can take advantage of low interest rates, while they exist. Selling the home, prior to the rise in interest rates, will be important before their mortgage payments increase. When purchasing a mortgage, the buyer must beware of all the parameters they are responsible for before signing on the dotted line.

http://money.cnn.com/2018/08/08/pf/fixed-or-adjustable-rate-mortgage/index.html

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It’s hard to believe and sad news for homeowners who held mortgage loans financed through Wells Fargo. Wells Fargo has been in the news repeatedly over the last few years and has paid millions of dollars in penalties for fraudulent consumer practices. Now, hundreds of customers lost homes after a computer glitch. The report states that Wells Fargo unknowingly foreclosed on hundred of customers based on a computer glitch. At this writing, 8 million has been set aside to compensate homeowners. Stay tuned for more consumer updates…

https://money.cnn.com/2018/8/04/news/companies/wells-fargo-mortgage-modification/index.html

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Did you know there is a marketing strategy to make you spend more at the market or retail store? There are ways to avoid the pitfalls that cost you more at the cash register. The psychology of shopping affects virtually everything you buy. Be aware they exist and work to be a smarter shopper. Here are a few tips:

1. Prices ending in “9”,”99″ or “95”.
2. Dollars without cents
3. Prices without dollar signs
4. 10 for $10 trick
5. Per-customer limits
6. “Free” promotion
7. Simple prices

https://www.moneytalksnews.com/7-pricing-tricks-that-make-you-spend-more/

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Making money decisions in college is often a learning experience. Decisions about college life has it’s challenges that can benefit us for a lifetime. When to go to college, where to go to college, live at home while attending college, or whether to work part-time while attending college. All are options for the new high school graduate. Here are a few ideas about what to consider about college.

1. It’s OK to delay college life
2. Staying home can fatten your wallet
3. Spending judiciously helps you save money
4. It’s smart to look past fancy and expensive colleges
5. Always pursue free money first
6. A little effort can turn ups a steal of a deal on textbooks
7. It’s smart to learn from the wisdom of others

https://www.moneytalksnews.com/slideshows/7-money-lessons-i-learned-putting-myself-through-college/

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There are 4 things to discuss prior to marriage, which can define your decisions about your finances in the future. Although it may seen like the most inconvenient time, it is actually the best time to share with one another. There are more details to discuss in the future. Starting here is a great place to begin. Ask these 4 questions:

1. Should you get a joint checking account or keep accounts separate?
2. When should you share the details of your finances?
3. How will you handle paying bills and saving?
4. How will beneficiaries be treated after the wedding?

https://www.bankrate.com/finance/personal-finance/personal-finance-questions-before-marriage-1.aspx/amp

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The engaged couple has many decisions to make, such as wedding expenses, the costs for the honeymoon, and where they plan to live. Money is a great discussion to have before they walk down the aisle. Everything must be laid out on the table about their past finances, debt, student loans, child support (if this applies) and of course salary and bonuses. We marry our spouses financial habits. If one has a poor credit history, credit card debt, these areas must be addressed and rectified. Avoid arguments about past mistakes and realize the past is the past. Setting new patterns and new habits together will be the best approach to setting new goals for the future. Agree to be transparent moving forward with a joint house account, and separate personal account for each mate. Each pay period should be a time to discuss the plans for the month and remember to set aside savings for emergencies. Most important, living below your means are words to live by to reduce debt and begin to save for the future. Newlyweds need to know marriage is hard word and money is a crucial area for agreement and understanding.

https://www.cbsnews.com/amp/news/getting-married-time-to-talk-about-money/

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