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NFCC Blog: Staying the Course

Smart Financial Moves for Transitioning Vets

By Jason Alderman The latest generations of veterans face a particularly complicated financial picture, attributed to multiple deployments, a tough civilian economy, predatory lending threats at home, and disability and health issues. That’s why the Veterans Financial Coalition was formed in June 2014 by a diverse group of organizations including Visa’s Practical Money Skills for Life, Association for Financial Counseling and Planning Education (AFCPE), Consumer Action, and the Consumer Federation …Read More

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The Dangerous Appeal of Subprime Credit Cards

By Jesse Campbell Do you remember the early months of 2014? They were cold. Really cold. Cold enough, economists have suggested, to actually freeze the economy. Well, maybe “freeze” isn’t the right term. Cool down. The first quarter of 2014 showed a significant spending slow down, very likely related to the weather. It was very cold. People didn’t want to leave the house and visit retail stores, or so the …Read More

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Jobless Grad With Student Loans, $29,000 Card Debt Ponders Bankruptcy

By Erica Sandberg, Dear Erica, I relocated to California two years ago and could not find a job. I was a full-time student and just graduated last week, but am still searching on the job market. During this time I have accumulated $22,000 and $7,500 both through my credit cards. Now I am struggling just to make the minimum payments, which are mostly interest. I realized I could not keep …Read More

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NFCC Offers Shoppers Holiday Countdown Tips

By Gail Cunningham As shoppers enter the countdown to Christmas, the NFCC offers tips to help them cross the finish line without compromising their financial well-being. Shoppers who wait until the last minute are often more vulnerable to making poor shopping decisions, and should exercise extra caution. The following tips based on the acronym for countdown should help consumers maintain their financial common sense as they wrap up their holiday …Read More

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Limits Are Not Answers

By Gary Silverman Many times folks are proud that they have been contributing the maximum to their IRAs, but when I look at their statements, I’ll see that they are contributing $2000 or $4000, or some other number that was the annual contribution limit….years ago. It’s news to some folks that  the limit is $5500; and if you are 50 or older it’s $6500 per year. This is one way …Read More

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Smart Tax Moves to Consider Before New Year’s Eve

By Jason Alderman The flurry of activity during the last weeks of December can make it difficult to pay attention to finances. If you want to save on your tax bill come April, now’s the time to make some critical moves. If you have a tax advisor or financial planner, it’s wise to run these ideas by that individual first. Here are some suggestions to investigate by year-end with follow-up …Read More

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Are You Financially Naughty or Nice This Holiday Season?

By Gail Cunningham To help consumers remain financially level-headed as they enter the final two weeks of holiday shopping, the NFCC created the Financially Naughty or Nice Checklist. Everyone wants to land on the nice side of Santa’s ledger, but what if Santa made his decision based on a person’s holiday spending habits, and only those who acted financially responsible were rewarded? Consumers need to remember that Santa only comes …Read More

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What Happens If I’m Denied Credit?

By John Ulzheimer “John, I applied for a credit card about 3 weeks ago. Today I received a letter from the credit card company telling me that my request for credit has been denied. The letter also included my credit score, which was a 598. Why did I receive this letter?” What you received was a letter formally referred to as a notice of adverse action. In plain English, that’s a …Read More

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Twelve Ways to Save on Holiday Travel

By Stacy Johnson If going home for the holidays, or escaping from home for that matter, is a part of your December plan you may think it’s too late to score a deal. After all, aren’t we always told to book in advance for the best prices? While it can be easier to find deals if you have more time to work with, there are plenty of ways to save …Read More

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Ten Ways to Cut Your Holiday Expenses

By Jason Alderman You’ve heard it before – plan your holiday spending so you won’t have debt come January. But for most of us, the holiday season is tough on our budgets. Various 2014 surveys put average household holiday spending around $600-$700. Most of us know it doesn’t take long to exceed that limit. To avoid the January money hangover, you’ll need smart planning and execution throughout the year. Developing …Read More

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