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No one sets out to have a poor credit score or to make poor financial decisions; however, it can happen to the best of us.  Having a low credit score has traditionally kept you from financing a new car.  If you are facing this situation, there are things that you can do to improve your chances of financing a new car with poor credit. For more read, “Tips on Auto Financing If You Have Poor Credit.” Image credit:   NRMA Motoring … [Read more...]

Planning for your child’s college education is a very big decision and one that you should make as early as possible.  One way to save for your child’s college education is to choose a 529 Plan that is right for you.  However, you should consider several options before making a final decision.  Before you choose a 529 Plan, you should consider the six questions posed in the article “6 Essential Questions to Ask Before Choosing a 529 Plan.” Image credit:   audlo-luci-store.lt … [Read more...]

Home Depot is one of the latest companies that have been the subject of a data breach.  Customers’ credit card and debit card information is alleged to have been stolen.  As part of its response to the “suspicious” activity, Home Depot is offering free identity protection services, including credit monitoring, to customers who might be potentially at risk from this potential breach. For the full story read, “Home Depot Hires 2 Firms to Probe Data Breach.” Image credit:   Mike Mozart … [Read more...]

Filing a Chapter 7 bankruptcy has the benefit of getting rid of most if not all of your debts. However, there are disadvantages to filing Chapter 7 as well.  In most cases, the pros of filing Chapter 7 far outweigh the cons of filing bankruptcy.  Only an experienced bankruptcy attorney can help you determine if filing bankruptcy is right for you. However, for a chart comparing the pros and cons of Chapter 7 you can read, “Pros and Cons of Declaring Bankruptcy under Chapter 7.” … [Read more...]

What can you do if you owe the IRS but you cannot pay the debt in full?  You may qualify for an IRS installment agreement.  The IRS offers taxpayers the option of paying off their tax debt through an installment agreement. However, interest and penalties will still be assessed to the balance you owe; therefore, you should make the largest payment possible each month to lower the total amount to be paid. For information on the four different types of IRS installment agreements read, “The IRS … [Read more...]

As you prepare your college freshman to go off to school, do not forget to discuss money matters with him or her.  Unfortunately, good money management skills is not a class that is taught in most high schools.  If your student did not have a job during high school, he or she may not have the money management skills necessary to live within a budget and make smart money decisions.  Discussing money before issues before there are problems is the best way you can prepare your college student to … [Read more...]

If you are contemplating filing a Chapter 13 bankruptcy you probably have many questions such as will your creditors stop calling you and what type of debts can you include in your bankruptcy filing.  Your bankruptcy attorney can answer all of your bankruptcy questions; however, if you want to get more information before your first visit, you can read FindLaw’s “Chapter 13 Bankruptcy Rules FAQ.” Image credit:  Sebastlen Wlertz … [Read more...]

It is never too early to begin thinking about next year’s tax return. You can take steps now to lower your tax bill and put more money in your pocket.  What you do today will have an impact on the amount of taxes you will owe next year.  For example, contributing to a flexible spending account is an easy way to pay your healthcare expenses with tax-free money while lowering your taxable income. For nine more ways to lower your taxes read, “Ten Ways to Lower Your Taxes.” Image credit:  … [Read more...]

Have you dreamed of buying one of those grand old homes that they don’t seem to build anymore?  Old homes have a charm that is missing in newer construction but buying an older home does come with a set of problems that you typically do not find in newer construction.  All homes need upkeep and maintenance; however, with an older home you may have issues such as wiring that does not meet standard recommendations or paint with lead. To read about some of the common issues with older homes … [Read more...]

Do you want to save money?  If you are willing to invest some time and money, you can save much more money in the long term by making some much needed home repairs.  Most of us love the idea of upgrading our home until we look at the cost.  You probably also have a list of things you want to “get to” around the house but never seem to find the time or money.  By making these a priority, you can improve your home and save money. For nine repairs that will save you money read, “Cheap Home … [Read more...]