Yesterday over 100,000 Americans went online to watch President Obama answer live questions from Twitter users for the first “Twitter Town Hall.” For an hour, he answered questions from consumers about the economy. According to the White House, most of the questions concerned jobs (23%), the budget (18%) and taxes (11%). It seems that Americans [...]

Although many people know what they should do when they are in financial trouble, realizing when that action is necessary can be trickier to figure out. The NFCC suggests that consumers take the following quiz. The results will reveal whether or not they need to seek professional help to avoid falling into a deeper financial quagmire. If financial assistance [...]

Earlier, we told you how the Consumer Financial Protection Bureau (CFPB) is striving to condense mortgage disclosure forms into one shorter, simpler form. Now, after hearing feedback from over 13,000 consumers, lenders and housing counselors, they’ve finalized drafts of two sample forms to replace the Good Faith Estimate and the Truth in Lending form. The [...]

For incoming freshmen, college means one thing: freedom. It also is usually a person’s first experience with credit cards. According to a recent study by Student Monitor, nearly two-thirds of college undergraduates acquire their first credit card before age 19. Eighty-seven percent of those are freshmen. While college is full of exciting and new adventures, [...]

Living without a savings account is tantamount to a trapeze artist flying without a safety net. But in our economy, many people wonder where they can find the money to save. Creating a budget is crucial to being in control of your finances because it is a simple way to monitor your expenses. However, our [...]

As Father’s Day approaches, many dads begin reflecting on the life skills they’re teaching their children. Nice manners, discipline and a good work ethic top many lists. Not to be overlooked, however, are financial skills, because regardless of whether they are taught formally or by example, parents pass along their financial habits to their children. [...]

Contribute the maximum amount to your retirement plan at work, or at the very least, meet the matched amount or you’re throwing away free money! Also inquire about the availability of Flexible Spending Accounts or Health Savings Accounts. All of the above can lower your taxable income.

Even if you have overdraft protection, this is a habit that speaks of a deeper problem that should be addressed. Write down each deposit and withdrawal in your check register, including all debit and ATM transactions. Regularly balance your checkbook, and reconcile your bank statement within one week of it arriving. If you do these [...]

Sometimes people become so overwhelmed that they bury their head in the financial sand. Not only do they neglect paying their bills on time, they don’t even open their monthly credit card statements. Such habits result in late fees, a tarnished credit report, and a lower credit score. Become financially organized by creating a cash-flow [...]

I believe one of my greatest attributes is that I’m a realist. And, as a realist I know you are going to use plastic to make purchases, and that’s perfectly fine as long as you don’t let the plastic ruin your life. But before you decide on the type of plastic to use consider the [...]