Monthly Archives: June 2020

When debt collectors call… Understand their business and know your rights. Credit car issuers, mortgage holders and other lenders are giving temporary reprieves to people struggling to pay their current bills because of COVID-19. About 1 in 4 Americans had a debt in collections in 2018. Know what your rights are and what to do.

1. Call your creditor before they call you. Agree to a reasonable payment plan that you can comply with. Avoid making commitments you are unable to keep. Remember this, if you continue to make payments whether they are small or not you can avoid your account going into collections. Going into collections will create a negative entry on your credit report and your credit score, which can take years to repair.
2. When you call your creditors and setup a payment plan you avoid collections, and garnishment of your paycheck. When your paycheck is garnished you will likely pay far more than creating a payment plan on your own that is less financially painful.
3. When you receive a windfall, such as a promotion or a tax-refund use this as an opportunity to make a large payment towards your debt. Paying regularly will benefit you in numerous ways. Even small payments can prevent your from going to collections.

Read more

13 Cities where renting is cheaper than owning a home. Homeownership has it’s perks. But owning is not always affordable. In these cities, it’s cheaper to rent.

1.New York City, New York

2.San Francisco, California

3. San Jose, California

4. Los Angeles

5. Boston

6. Providence, Rhode Island

7. San Diego

8. Hartford, Connecticut

9. Chicago

10. Sacramento, California

11. Philadelphia

12. Seattle

13. Milwaukee

Read more

Even though safe deposit boxes are designed to withstand natural disasters, it’s a good idea to put anything that could be damages by water into a waterproof container such as a zip-locked plastic bag. This adds another layer of protection and can also help you keep your safe deposit box more organized. And before stashing those important papers and photos, make copies to store electronically on your computer or in the cloud. Just be sure your family knows how to access them.

Read more

The right way to mix money and marriage. This reader came to the right place for answers about how to merge finances in a marriage. Marriage and money can be a tough mix for any marriage. Complications only increase when you enter into wedlock with kids, homes and property from prior marriages.

1. Have a will
2. Day-to-day living (share these expenses and or separate them as you need to)
3. Discuss your financial needs in advance (don’t wait for an emergency)
4. Seek counseling if finances are a never-ending issue in your marriage
5. Save for emergencies, retirement, and vacations

Read more

8 Affordable Ways to Keep Your Car Cool This Summer. Here are some smart ways to prevent your car – and wallet-  from overheating this time of year. Most vehicles aren’t designed for extreme temperatures. They need special care when the mercury rises, particularly during summer road trips. Driving an overheated vehicle can cause expensive damage. Running too hot can degrade engine oil, ruin gasket seals and seriously damage the engine. Ensure a carefree summer on America’s highways and byways by paying attention to these things:

1.Radiator

2. Hoses

3.Oil

4. Battery

5. Air conditioning

6. Temperature gauge

7. Tires

8. Emergency kit

Read more

9 Jobs you can get and keep. If you want to work from home permanently, look into some of these jobs. The coronavirus pandemic has turned a lot of homes into home offices, and some people aren’t keen to head back to the old workplace. If that’s the category you fall into, there is good news: There are all kinds of full-time work -from-home-jobs and part-time work-from-home jobs that’t won’t be going away when COVID-19 does.

1. Web developer
2. Virtual assistant
3. Travel agent
4. Social media manager
5. Translator
6. Call center representative
7. Cybersecurity analyst
8. Freelance writer
9. Medical transcriptionist

Read more

7 Creative Passive Income Ideas That Don’t Involve Investing. Even with more time than money, you can still start building a passive income. For most people, our primary – if only source is our jobs. But some clever folks figure out ways to keep making money without constant effort. Those people have passive income streams. What is passive income? It’s a flow of money that is either self-sustaining or sustained with less work than a job. For instance, dividend stocks, rental property, CD’s and annuities are examples of how to generate passive income. All of these, once established, are more about  occasional maintenance than work. And you probably see a  theme here: A lot of the most valuable ways to make passive income sound like a retirement investment. Consider the following:

1. Write and e-book
2. Create a course
3. Sell stock photos
4. License your music
5. Create an app
6. Rent our your car
7. Rent out extra rooms

Read more

It’s time to find a better rate on your savings. Use the following table to find a bank that will help you maximize the amount of interest you earn on your savings. It only takes a few seconds and can mean hundreds more in interest every year. That’s free money! Check both savings and CD rates by clicking the link. https://www.moneytalksnews.com/rates/savings/

Read more

Small slurges that make it feel like you’re living large.

Cutting costs is the shortest path to financial freedom. However, there are times when a little spending can produce big returns. Finding a better deal  on everything from the mortgage to your grocery bill will help you save money. Avoiding unnecessary spending online and at the mall also can help you create savings that can be invested  to build wealth over the long haul. There are times when a little spending can produce big returns that go far beyond dollars and cents. The point is that sometimes, you can’t really put a dollar value on the amount you spend. If a purchase increases the quality of your life, it might be well worth it.

Read more