Blogs - Page 4

The 2021 child tax credit modifies the rules of the 2020 child tax credit as part of the American Rescue Plan. Its goal is to reduce child poverty, giving American families a welcome post-COVID-19 financial boost.

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Being able to effectively manage your economic life may have surprisingly beneficial effects on your physical well-being, overall health, and quality of life. 
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Generally speaking, charging medical expenses to a credit card is a poor financial choice. Is there any circumstance in which it makes sense to pay medical expenses with your credit card? Here’s what you should know before you do.

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If your credit card debt is causing you to fall behind on bills, you need to either spend less or make more money. Saving money on car insurance can help you reduce the total amount of your monthly bills. However, you may also need to update your budget to see where you can make other changes to improve your finances.

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It’s never a good idea to finance a vacation with debt, but it might make sense to charge your expenses to a credit card temporarily. Learn more here.

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If you are reeling under the burden of credit card debt, you should take action now and explore what debt relief options are available to you in order to pay off credit cards. This article examines the pros and cons of a debt consolidation loan vs. debt settlement.
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Debt doesn’t just go away when you die, but that doesn’t mean your loved ones are always responsible for it. Instead, your estate will need to cover the debt using available assets, while the Fair Debt Collection Practices Act ensures that family members are not unfairly targeted for payment. Here is an overview of what happens to credit card debt and different types of property or personal mortgages when you die.

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Some types of debt can rob you of your freedom, future, and financial options. However, under some circumstances, some types of debt may actually end up helping you in the long run.  It pays to know the difference...
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For some, earning rewards through churning is an attractive option. For others, frequent credit applications may mean lower credit scores and credit card debt. In many cases, though, the need for constant credit card payoff can lead to financial strain.
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Retirement is the time most working people picture as the moment when they have enough money to enjoy life without having to work. Yet many people retire and still carry home equity loans or even student loans, despite having worked for many years. Life demands make it harder for older Americans to retire, even if they have worked a lifetime. Carrying debt into this phase of life can be a significant source of stress.

Having a large amount of debt when you are ready to retire can present a retirement planning challenge. Here are some tips on paying down debt in retirement.

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