Category: Managing Debt

4 Reasons NOT to Refinance Your Mortgage

Most financial advisors will tell you to refinance your mortgage if you can lower your rate by as little 1%. The idea is that the lower rate will lead to lower payments, making your mortgage more manageable. But that’s not always a good idea. Because sometimes lowering your payments doesn’t really benefit your overall finances....

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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...

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Don’t run out of money! Dodge these 5 retirement traps NOW

Tropical beaches…tennis and golf…sailing on crystal blue waters…exotic travels… Whatever you dream about when you think of retirement, the reality could end up being much different, and much more stark, unless you take steps to bolster your nest egg right now. By tackling these 5 retirement traps before they spring up, you’ll be better able...

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You Can Deduct up to $2,500 of Student Loan Interest

UPDATED FOR 2021 If you’re paying down a student loan, you can deduct up to $2,500 of the interest on your tax return – and you don’t even have to itemize to get that deduction. And while there are limits how much you can deduct, millions of  Americans can benefit from this valuable “above-the-line” deduction....

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7 Ways to Keep Your Divorce from Damaging Your Credit

There’s so much going on during a divorce that it’s easy to overlook things that aren’t problems yet … like your credit score. Getting a divorce doesn’t do anything to your credit by itself, but sometimes the aftermath can damage or destroy your credit. That can affect your finances for years to come, and make it...

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Student Loan Debt Can Steal Your Retirement … Unless You Act NOW to Prevent It

Over the past ten years, there’s been a huge increase – 400% – in the number of Americans over 60 drowning in student loan debt. Even worse: the amount they owe has increased substantially. This crippling debt chips away at their financial security during retirement, making it much more difficult – if not impossible – to...

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