I’m often asked what’s the biggest financial mistake millennials make when it comes to their finances. In the past, responses have been not getting started or paying for services they can do themselves, for less. After five years of teaching financial education, I’ve realized that one of the biggest mistakes millennials make when it comes to their finances is focusing on only one aspect of their financial journey.Read More
The first time I reviewed my credit report it felt like I was walking into a well-appointed room decorated with mistakes from my past. Some were bigger than others, but they were all there, and every line of my report reminded me of a bad financial decision that I would have loved to forget about — but due to my neglect, these mistakes were anchored to the walls and rubbed into the fabric of the carpet that paved my financial journey.Read More
Guest Post By: Amanda Atcheson, Product Marketing Manager at CO-OP Financial Services
It’s hard to believe that only some fifty odd years ago, a woman’s financial identity was tied explicitly to someone else – her husband, her father or some other male in her life. In the modern age, women make up nearly half of the American workforce. In addition, the average age of marriage is now in the late 20s – and unfortunately, the divorce rate remains high.Read More
I’ll be honest, when I picked up #GirlBoss by Sophia Amoruso I never thought there would be so many valuable personal finance lessons in it. Business advice, tips, and motivation were my expectations, but what I received was a well rounded, personal account of someone who did the unexpected in her own way. Read More
Credit cards have dramatically changed consumer saving and spending habits. It would not be an exaggeration to say that credit cards have impacted personal finance as much as cell phones have impacted personal communication.
Most people assume that checking your credit report negatively affects your credit score, however that isn’t always the case. This concern is warranted whether you have carefully built your credit score to it’s current standing or you are in the process of rebuilding it. It’s important to understand how the the FICO algorithm works and what actions impact your credit score. Credit is like a puzzle and if you are are unaware of how all the pieces work, your score could be negatively affected. Read More
Is credit necessary? For some in the personal finance field, the answer is actually a no.
People have proven that it’s possible to live a life without using credit yet, the average US household carries a little over $130,000 in debt — $15,000 of that debt is carried on credit cards. So what’s the deal? If it’s possible to live without credit, why aren’t more people doing it?Read More
In an ideal world, no one would carry a credit card balance from month to month.Many of us use credit with the intentions of paying the balances in full, then life happens. As time progresses the debt accumulates with interest every month making it more difficult to pay off. If you’re reading this, you are probably in search of a way to save money and get out of debt quicker. A credit card balance transfer may be the solution you are seeking. Read More
The scenario often plays out like this. You purchase your dream car and the monthly payment seems feasible. Life happens and unforeseen events occur. The car payment becomes a burden. After crunching the numbers and unsuccessfully trying to make it work, the vehicle is repossessed. This scenario is all too familiar for families and individuals that experience financial hardship. Although it may seem like a daunting task, you can recover from car repossession. Read More