Fortunately, if your credit score has taken a hit, you can initiate several actions that will begin improving it almost immediately. Just be aware that it can take many years to recover from severe credit-damaging situation such as bankruptcy or foreclosure.
Year after year in the United States, we have celebrated Financial Literacy Month in April. Yet it seems that we still lack a sufficient understanding of young people's experiences with and attitudes towards financial literacy.
College is an exciting time, but it's also an expensive time. With the average debt for graduating seniors hovering around $29,000 (according to CNN), every incoming freshman should be taking a crash course in College Finances 101.
So, what does a family do when their lender denies a loan modification and instead insists on foreclosure? File bankruptcy. What happens a few months later when the lender has court permission to reschedule the foreclosure sale? The homeowner files bankruptcy again.
A survey released this month by the Council for Economic Education found that fewer than half of states require an economics course as a high school graduation requirement, and only 17 states require a personal finance course. Fortunately, I was already armed.
One of the most practical ways that we impart money savvy to our children is by constantly reinforcing the notion that money isn't just for spending.
Even if the government's optimistic accounting system is used, there is little profit to be had from undergraduates. Almost all of the "profit" comes from loans made to graduate students.
If we can't reform our system, we at least need to communicate to baby boomers that they need to stay at their decently-paying jobs at least another decade, rather than "retiring" and ending up taking part-time, benefit-less minimum-wage jobs to try to make ends meet.
When I think about why it's important to teach kids about money, I tend to focus on the payoff for individuals... I mean, life is a whole lot better if you don't have to worry about how you're going to scrounge up the cash to pay your next credit card bill.
With profit margins under pressure because of Obamacare, insurers likely will be denying more of your claims and inserting themselves even more between you and your doctor when it comes to medically necessary care, but you should never take a "no" as the final answer.
Vendors use the bait-and-switch tactic of hidden fees because the deeper you get in the purchasing process, the more incentives you have to complete it.
For many, finding a way to save for retirement is a challenge when paying the bills leaves you with little left. But whether you are making upwards of $200,000 or less than $50,000, there are ways to plan for the future.
In this post, I address the assertion by Michael Lewis during his 60 Minutes interview and in his new book, "Flash Boys," that the market is "rigged" by high-frequency traders.
Ugh, the dreaded teenage years. But it is possible to teach your teens how to be financially responsible -- even if they think they know it all. Here are a few tips.
Most people know it's important to have good credit, but they don't want to spend too much time worrying about it. The good news is that you can be pretty lazy and still improve your credit.
Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.