Living at home with your parents definitely has its perks. In addition to saving on rent and food, you also get to spend a lot of time with your loved ones. However, there comes a point in every young person’s life when they must move out and live on their own. This transition can be exciting and scary at the same time; it’s a period of learning and growing.
People in relationships quickly learn the benefits of open communication when it comes to sharing your life with another person. Whether you've discussed cohabiting, marriage, or simply becoming an exclusive "item," talking tough issues now saves you arguments later.
People declare bankruptcy to be relieved from their debts; to restart with a clean slate. However, there is often an underlying and more nagging reason why people choose to take this route despite the consequences.
You can start saving up for retirement at 18 or 40 — a retirement account benefits you at any age, although most financial advisers agree sooner is better. Many people don't consider retirement savings because of debt or other financial concerns, but growing your account is easier than you think.
If you’re a member of the military, then you know first-hand how great our Basic Allowance for Housing (BAH) stipend can be. For those who are not in the military, BAH is a monthly stipend we all receive for housing costs (primarily to be used for mortgages or rent payments).
Anytime you rent a property or leave one, you need to ensure the residence is in good condition. Conducting a property inspection is key for reducing your damage liability and avoiding security deposit disputes. Move-in and move-out checklists are essential for these inspections.
You should review your credit at least on an annual basis. Since 2004, all American adults have the right to view their credit reports from the three major consumer reporting agencies, or CRAs (Equifax, Experian and TransUnion) every twelve months.
If you are concerned your family member or friend who has too much debt is abusing credit cards or is otherwise heading toward a financial abyss, your intervention might be difficult and uncomfortable, but done with love and sincerity, it may also be just what the person needs to get back on track to reach his or her financial goals.
Most Americans will be contacted by a collection agency at some time in their adult lives, thanks in no small part to the disheveled and confusing medical billing systems around the country, a bit more so even than the fact that we are carrying record levels of both student loan and credit card debts. How you respond matters!
The road to becoming debt free is an extended journey. However, this path doesn’t have to take an eternity. With the right plan and the right payments, you can slice off years even with the most burdensome loans.