Set Clear Financial Goals Today To Create Your Future Fortune

Set Clear Financial Goals Today to Create your Future Fortune

What does your dream future look like? Maybe it includes a beach house overlooking the ocean…starting your own business…or the freedom to quit your job without ever worrying about money… Whatever your dream is, there’s a way to reach it – but it all starts with knowing what you have to do and why. Because the road to your dreams can be long, and you need plenty of motivation along the way – and that’s where your “why” comes into play. To get that beach house, you may first have to pay off credit card debt so you can put…

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How to Freeze Your Credit

Your credit and your financial future are at risk. The Equifax breach is just the latest in a long line, and it’s the worst we’ve experienced… so far. The truth is that your information is out there, it’s vulnerable, and criminals have access. One protective step you can take right now, this minute, is to freeze your credit. A freeze stops people from checking your credit – and if you’ve ever tried to get a loan, you know that’s the first thing lenders do. So without that access, chances are they won’t approve a new loan (or credit card, or…

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Know your Debt-to-Income Ratio

When you’re trying to borrow money – and that includes applying for credit cards – it pays to know your DTI, or debt-to-income ratio. Your DTI presents a snapshot of what your debt looks like in relation to your income, and it helps lenders – especially mortgage lenders – see in a single number how easily you’ll be able to handle monthly payments on new debt. To get a qualified mortgage, your DTI has to be 43% or less. Calculate your DTI by dividing your total monthly debt payments (including mortgage, student loans, car loans, and minimum credit card payments)…

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Credit Card Calamity: How ONE Day Can Cost Single Moms so Much

I was one day late – literally one day – with my credit card payment. I’ve had the card for more than 10 years, and never been late before. But the last few weeks have been really crazy around here (sick mom and sick kid, plumbing disasters, etc.), and in all the crazy, I clicked on the wrong date when I did the bill payment for my card. I was paying the balance in full, and I clicked on the 13th instead of on the 12th. And that teeny, tiny little mistake resulted in… A $27 late fee A $17…

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Don’t Panic If You Can’t Pay Your Taxes!

Don’t Panic If You Can’t Pay Your Taxes!

Large and unexpected tax bills can set off the panic button for single moms … but you don’t have to worry. This situation is easier to handle than you think, especially when you take a proactive approach instead of ignoring the problem and hoping it just disappears – it won’t. The most important thing to do is to file your current tax return, even if you can’t pay the full balance due by the filing due date. If you can make any payment at all, even if it’s only a small fraction of the taxes you owe, send it in.…

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