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NFCC Blog: Staying the Course

Why Did I Receive a 1099-C From My Credit Card Issuer?

By John Ulzheimer By now you’ve probably started receiving your tax-related forms. Most of you will receive form W2, which is sent by your employer and memorializes your income earned for tax year 2014. Some of you, like me, will receive one (or several) 1099s. A 1099 is sent to people who do contract work as a non-employee. And some of you will unfortunately receive form 1099-C.   What is …Read More

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A Fresh Start

By Kristine Gamm-Smith I have discovered in working with people on managing their personal finances that most are looking for a fresh start.  They want a chance to begin anew in how they handle their money. Some say they would change the way they budgeted their money in the past. Some want to change their specific money attitudes and behaviors that have led them down the wrong path; things like not …Read More

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Pros and Cons of Reverse Mortgages

By Jason Alderman Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product – such as pulling all their cash out at one time – has led to significant financial problems later, including foreclosure. In actuality, there are some cases where reverse …Read More

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How to Stick to Your Budget in 2015

By Lauralynn Mangis You’ve already started to think about your budget and financial goals for 2015. You’ve probably decided that you want to put more money into a savings plan this year. Roughly three-quarters of Americans are living paycheck-to-paycheck right now, so where do you start? Prior proper planning is the number one factor in reaching financial goals. Let’s start by creating a budget and a suitable savings plan for your 2015 …Read More

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NFCC Poll Reveals Financial Stability Concerns

By Bruce McClary The December poll hosted by the NFCC revealed that more than half of all respondents (66%) are unsure about their path toward financial stability. While it is encouraging to know that financial stability remains an important goal for consumers, it is deeply concerning that so many are unclear about how to reach that objective. With a few initial steps, most people could be on their way toward …Read More

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Resetting Your Life for Retirement

By Jason Alderman “Downsizing” is a familiar word to Americans approaching retirement. For most, it refers to cutting back on spending and selling, gifting, or donating unneeded possessions, as well as the possibility of moving to smaller, more affordable quarters. If only resetting your life for retirement was that simple. In reality, it means a thorough inspection of money issues and lifestyle expectations that truly determine whether you’re really ready …Read More

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Federal Government Unveils New Retirement Tool. Is It For You?

By Gary Silverman Last January, President Obama signed a Presidential Memorandum directing the Department of Treasury to create myRA. And that’s about the last I heard about it. Sure there was a flurry of articles in my industry about it, but the conclusion was that the kind of folks that become clients of investment professionals wouldn’t be using them. So what are myRAs, who can use them, who are they …Read More

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How Credit Counseling Can Save You $10,000

By Kimberly Rotter Credit counseling is an educational process (free or low-cost to those who qualify) wherein a qualified counselor helps the consumer learn how to budget, manage or get out of debt, and maintain a healthy credit score. Most consumers who seek credit counseling are in the throes of financial difficulties or overwhelming debt, or have poor credit and limited knowledge of how to improve their standing. Counseling is …Read More

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Credit Counselors Coach You in Your Effort to Defeat Debt

By Drew Kessler When you’re struggling with increasing debt and aren’t having any luck getting your creditors to work with you, it may be time to reach out to a certified consumer credit counselor. Meeting with one is often free, and as your third-party advocate, they can offer the support and expertise you need to conquer crippling debt. What Does a Credit Counselor Do? “When people deal with credit card …Read More

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Yours, Mine and Ours: Planning Stepfamily Finances

By Jason Alderman The Pew Research Center reports that four in ten American adults have at least one steprelative, defined as a stepparent, a step-or-half sibling or a stepchild, in their family. While the Pew study says that many stepfamilies operate harmoniously, it also notes that adults “feel a stronger sense of obligation to their biological family members than they do to their step kin.” That is one reason why …Read More

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