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• Compounding Interest & Compounding Troubles
  So how do we end up in trouble with credit cards? There are a few ways. Purchases and Cash Advances.. So how do we end up in trouble with credit cards? There are a few ways. Purchases and Cash Advances. The first, most obvious way is to simply make too many purchases using cre
• Mortgage Foreclosure Alternatives
  Once you contact your lender and let them know that you want to stay in your home, there are several alternatives that your lender may consider. These alternatives are also called a “mortgage workout.. Once you contact your lender and let them know that you want to stay in your home, there are several
• Child Protection Issues & the Court
  Family courts make the children’s best interest a primary consideration in custody decisions. Your lawyer is also legally obligated to consider the children’s best interest, even if it seems to contradict your interests.. Family courts make the children’s best interest a primary consideration in
• IRAs (Individual Retirement Accounts)
  There are actually 3 types of IRAs - a traditional deductible IRA, a traditional nondeductible IRA, and a Roth IRA. Traditional Deductible IRA - Anyone age 49 or younger who earns up to 32,000 and does not have a company 401(k) plan can invest up to 5,000 annually as a tax-deferred investment (mea
• Finding the Money to Pay Down Your Debt
  After you have listed all your debts – credit cards, medical bills, department store bills, mortgages, car loans, etc. - you may be tempted to panic and say “But I just don’t have any money to even begin paying my debt off! Realize that you may have options you’re not aware of..
• What to Do If Relief Assistance and Insurance Payouts Aren’t Enough
  Depending on the scope of the disaster and loss suffered you may find that assistance and insurance payouts don’t cover the entire cost of repairing and/or rebuilding your home. There are a few things you can do to begin figuring out how to manage the shortfall.. Depending on the scope of
• Life Insurance
  Life insurance often provides widows with their single biggest financial benefit. It can make a huge difference in your immediate and long-term well-being.. Life insurance often provides widows with their single biggest financial benefit. It can make a huge difference in your immed
• Take the First Step with Your Bills and Credit Card Debts
  So perhaps you’re reading this and you know that you have already accumulated a significant amount of debt. Maybe the bills are mounting and you’re getting worried about paying the rent, or house or car payments.. So perhaps you’re reading this and you know that you have already accumulat
• Tapping Into Your Home Equity
  If you are a homeowner, your home may very well represent your largest financial asset. If you are unable to pay your bills and keep current on your debt obligations you may want to consider tapping into that equity in your home (the money you have paid into the mortgage) by taking out a home equity
• Places to Avoid Turning If Possible
  Financial pressures related to sudden property damage or loss can seem overwhelming. It is not uncommon to feel panicked about how to meet normal living expenses, especially if you fear that you don’t have adequate savings or insurance.. Financial pressures related to sudden property dam
• Places to Avoid Turning to for Financial Help If Possible
  Financial pressures related to a disability can seem overwhelming. It is not uncommon for people who have suffered, or been diagnosed with a long-term or chronic disability to feel panicked about how they will be able to meet normal living expenses, especially if they do not have adequate savings or
• Tapping Into Your Home Equity
  If you are a homeowner, your home may very well represent your largest financial asset. If you are unable to pay your bills and keep current on your debt obligations you may want to consider tapping into that equity in your home (the money you have paid into the mortgage) by taking out a home equity
• Places to Avoid Turning to for Financial Help If Possible
  Financial pressures related to experiencing a disability can seem overwhelming. It is not uncommon for people who have suffered, or been diagnosed with a short-term disability to feel panicked about how they will be able to meet normal living expenses, especially if they do not have adequate savings
• Are you going to work on reducing your outstanding debt
  First, compile all your current outstanding debt information. If you are not current on all your accounts, immediately contact your creditors to let them know that you want to discuss your payment options.. First, compile all your current outstanding debt i
• The Cost of Using Credit
  Although traumatic life events can significantly increase the likelihood of an individual or couple filing for bankruptcy, the necessity or habit of running up unmanageable credit card debt for everyday expenses is another reality for too many American families. Credit cards aren’t in and of themsel
• Interest rate
  Interest rate : A percentage amount based on how much money you deposit or invest, that indicates how much money you’ll either earn (on an investment) or owe (on a loan). age amount based on how much money you deposit or invest, that indicates how much money you’ll either earn (on an investment) or owe (on a loan)
• Retirement Planning
  Life has thrown you some unexpected curves. You know, better than most people, that the future is uncertain at best.. unexpected curves. You know, better than most people, that the future is uncertain at best. Whether you are still able to work or if you are facing retirement sooner than you had expected, it's import
• Losing Your Spouse: Investing Payouts
  Once you've begun receiving benefit payouts, you'll want to invest the money wisely. Some of the benefits will be paid to you as a one-time lump sum.. ng benefit payouts, you'll want to invest the money wisely. Some of the benefits will be paid to you as a one-time lump sum. For example, if you're th
• 5 Great Choices for Windfall Funds
  No matter what your current financial situation is, there are five great categories of choices that you can make with your windfall funds. Pay off debt.. No matter what your current financial situation is, there are five great categories of choices that
• Consider Something Temporary
  While you're in a period of transition and you have some flexibility, why not capitalize on it? If it's taking a while to land a job, consider taking a temporary or part-time job in a field of interest to you. Although you may earn less and receive fewer benefits than with a full-time or permanent j
• When Finances Are Tight: Creating and Managing New Income
  Divorce creates a new financial reality for both spouses. Unfortunately, divorce typically lowers a woman’s standard of living by reducing income and increasing expenses, particularly if she is now a single parent.. Divorce creates a new financial reality for both spouses. Unfortunately
• Home Mortgage Payments: Keeping Your Home or Facing Foreclosure?
  Whether your current financial problems are the result of an unexpected, life-altering event (such as the death of a spouse, loss of a job, etc. or the result of a long-standing, growing problem managing income, debt and expenses, sometimes cutting back on expenses isn’t enough..
• Specific Next Steps for Southern California Wildfire Victims
  If you, your family or a loved one are victims of the southern California wildfires, there are some specific next steps to take-after you have gotten your immediate emergency needs for shelter, food, water and medical attention met-to recover and re-establish some of your financial security. Followi
• Help for Those Affected by Hurricane Ike
  If you or a loved one is affected by Hurricane Ike there are sources of assistance available. Following are some tips for how to begin the process of recovering from this disaster: If You Need Safe Shelter. If you or a loved one is affected by Hurricane Ike
• Assistance for Midwest Flood Victims
  If you or a loved one is affected by the recent flooding in the Midwest there are sources of assistance available. Following are some tips for how to begin the process of recovering from this disaster: If You Need Safe Shelter.. If you or a loved one is affected by the recent fl
• Making the Home Safe for Caregiving
  One of the most important ways you can help your loved one maintain her independence is to make her home a safe place to live. Walk with her through the house and note how she navigates the space and where she could use some help.. ways you can help your loved one maintain her independence is to make her
• Tax Implications If You Have a Disability
  Determining and filing taxes can be difficult and anxiety-producing. If you have a disability you may be eligible for certain tax credits that can lower, or even eliminate, your tax payments and you may be able to receive assistance in preparing your tax return.. xes can be difficult and anxiety-producing. If you
• Tax Implications of Sudden Property Loss or Damage
  There are possible tax relief measures you can qualify for if your property was damaged or destroyed. For example, if your property losses were more than 100 and more than 10% of your adjusted gross income you can deduct them from this year’s tax return.. lief measures you can qualify for if your property
• Financing the Purchase of a Foreclosed Property
• Buying a Real-Estate Owned (REO) Property Owned by a Lender
• Buying a Property at Auction
• Apply for Disaster Assistance
  If your property was damaged or destroyed due to a federally-declared disaster you may be able to receive assistance through the Federal Emergency Management Agency’s (FEMA) Individuals and Household Program (IHP) the Small Business Administration (SBA) or another federal government agency. FEMA’s I
• Living Independently at Home
  Many people with disabilities still have a strong desire to live independently at home. However living at home may present new challenges and difficulties.. Many people with disabilities still have a strong desire to live independently at home. However living at home may present ne
• Housing Modifications
  Having a long-term or chronic disability may mean that it is more difficult for you, or a loved one, to navigate around the home and perform daily activities as easily as before. Home modifications and adaptive equipment can reduce the stress for both patients and caregivers..
• Housing Modifications
  Having a short-term disability may mean that it is more difficult for you, or a loved one, to navigate around the home and perform daily activities as easily as before. Home modifications and adaptive equipment can reduce the stress for both patients and caregivers.. ility may mean that it is
• Losing Your Job
  Stunned. Fearful.. ized. Angry. Shocked. These are just some of the emotions people experience when faced with a sudden job loss. Besides a paycheck, work also provides people with a sense of identity, a rhythm to everyday life, and often a close-knit group of friends and acquaintances. Losing
• Saving for College
  You and your husband may have already thought ahead about how to pay for your child's college education. If so, set some time aside to review that plan and determine if it's still realistic now that you're supporting your family on one income.. have already thought ahead about how to pay for your child's college educat
• Step 1: Identify your income
  Don't overlook all your potential sources of income: Paycheck from your full-time job Part-time income Social security benefits, pension benefits, life insurance benefits Child support or alimony Interest earned on investments If you've recently lost your spouse or your job, remember to find all pos
• Selling a House with an Ex-Spouse Involved
  If you are selling a house that was part of your marital property and your ex-husband still has a financial interest in, the terms and conditions of the transaction, its settlement and the tax consequences should already have been included in the final divorce agreement. That means that every antici
• Tax Preparation
  The IRS offers free tax preparation assistance and counseling for seniors age 60+ through their Tax Counseling for the Elderly (TCE) program. You can locate IRS tax assistance in your area through the local public library or by calling 1-800-829-1040.. The IRS offers free tax p
• Red River Flooding and Potential Assistance
  Residents living along the Red River in Minnesota and North Dakota and points south are assessing the damage from the recent historic flooding. President Obama has already issued emergency and disaster declarations for both states.. Residents living along the Red River in Minnesota
• Creating a Support Network
  Most divorce-related issues fall into three categories: emotional, financial and legal. While you may find some overlap in these areas, in general it can be helpful to mentally sort issues into these three categories as you look for support.. Most divorce-related issues fall into three catego
• Should I Use a Recruiter?
  When you're unemployed it's tempting to think that a professional can help you land the perfect job. Rather than thinking of recruiters or headhunters as magicians, think of them as matchmakers.. When you're unemployed it's tempting to think that a professional can help you land the perfect job.
• Apply for Benefits
  As a surviving spouse, you are entitled to apply for several financial benefits including employer benefits (such as your spouse’s pension plan payout and employer-sponsored retirement plan) life insurance benefits, Social Security, and Veteran’s benefits. Life Insurance Benefits If your husband hel
• Variable-rate
  Variable-rate : When the interest rate changes in response to market conditions.. Summary Variable-rate : When the interest rate changes in response to market conditions. . Variable-rate : When the interest rate changes in response to market conditions. .
• Money Market Account
  Money Market Account A savings account you can open through a local bank. Your funds are invested in low risk, short-term investments so that you earn a small amount of interest and are still able to liquidate, or access, your money quickly and easily..
• Glossary of Terms
  4401(k) Plan A. 4 401(k) Plan A Accountan
• Fixed-rate
  Fixed-rate : A loan in which the interest rate does not change over the life of the loan.. Summary Fixed-rate : Fixed-rate : A loan in which the interest rate does not change over the life of the loan. .
• CD
  CD : Certificate of Deposit, an interest-bearing investment offered by banks that typically offers a low, but certain, rate of return in exchange for low risk.. it, an interest-bearing investment offered by banks that typically offers a low, but certain, rate of return in exchange for low risk. CD : Certificate of De
• Bonds
  Bonds When you invest in a bond you are loaning money to an institution (a company, agency, or a municipality) that issues the bonds. These institutions issue bonds to raise money for projects, developments, etc.. Bonds : When you invest in a bond you are loaning
• Annuity
  Annuity An investment offered by insurance companies that provides owners with regular income, typically after retirement. Fixed-rate annuities guarantee a specific payment.. Annuity : An investment offered by insurance companies that provides owners with regular income, typ
• So once I begin saving money, what should I do with it?
  Accumulate enough to create an emergency fund to cover at least 2-3 months’ worth of expenses Begin participating in your employer’s retirement plan (have money deducted from your paycheck to contribute to the 401(k) plan) or open an Individual Retirement Account (IRA) Interested in learning more ab
• Multipurpose Senior Centers
  Local multipurpose senior centers—mostly operating during regular work hours during the week - are designed to provide a wide variety of activities, classes and events in a social setting for independent seniors such as: On-site and delivered meals Nutrition and wellness counseling and activities Ba
• Budgeting, Banking and Bill-Paying
  To help your loved one with her finances start by reviewing her budget together. If she doesn’t have a budget, . To help your loved one with her finances start by reviewing her budget together. If she doesn’t have
• Taking Care of Your Financial Health
  While you are caring for your loved one you need to stay engaged with your own personal financial situation. It can be too easy to spend more time working on and worrying about your loved one’s health and finances than your own.. While you are caring for your loved one you need t
• Where to Keep the Money while you’re Deciding What to Do
  As we’ve mentioned, when you learn that you’re going to come into some unexpected funds it’s a good idea to take some time before deciding what to do with it. However it is a good idea to go ahead and deposit the money into a bank account (all funds up to 250,000 are insured by the FDIC if deposite
• Manage your financial assistance and insurance payouts wisely while waiting to rebuild.
  If you receive emergency government assistance, assistance from charitable sources and/or insurance claim payouts it's important to manage the money wisely during the process of repairing and rebuilding. Sometimes the assistance and benefits can add up to thousands of dollars and it may be tempting
• Taxes
  Determining and filing taxes can be difficult and anxiety-producing. If you have a disability you may be eligible for certain tax credits that can lower, or even eliminate, your tax payments and you may be able to receive assistance in preparing your tax return.. Determining and filing ta
• Am I getting the best service?
  How do I know if I'm getting the best service from a broker or an advisor I'm already working with? If you've already begun working with a broker or financial advisor, it's a good idea to periodically evaluate what type of advice and service you're getting and if it's helping you achieve your financ
• Identifying your income
  Don't overlook all your potential sources of income: Paycheck from your full-time job Part-time income Social security benefits, pension benefits, life insurance benefits Child support or alimony Interest earned on investments If you've recently lost your spouse or your job, remember to find all pos
• Collecting the Necessary Paperwork
  During the divorce process both you and your spouse will need to gather and provide your lawyers and the court with some essential paper work including: Current income tax returns with W-2s, 1099’s, and all other reported income (interest, dividends, etc. Recent pay stubs, as well as the name, addre
• Rework Your Resume
  Like it or not, if you're looking for work, you'll need a resume. The question is, how do you get your resume to stand out from the rest? Here are a few specific suggestions: Use active verbs (created, directed, achieved, supervised) instead of passive phrases (such as "was responsible for, "was ass
• Rebuilding & Going Forward
  Recovering from your spouse's death is a process. In addition to the emotional toll, you're also facing issues that will have a big impact on you and your family, like a sudden change in your financial picture.. Recovering from your spouse's death is a process. In addition to the emotio
• Paying Off Debt
  If you're the executor of your husband's will, you'll need to pay off any outstanding debt (such as credit card debt, car loans, etc. held solely in your spouse's name.. If you're the executor of your husband's will, you'll need to pay off any outstanding debt (such as credit card debt, car loa
• How to Handle People Wanting to Share in your Wealth
  Depending on how much money you come into, and how public the notice is about your windfall, you may be surprised by people who want to share in your windfall…or you may not! You may find immediate or extended family members, friends, co-workers, neighbors, distant relatives and even complete strang
• Before Making Choices About Your Windfall
  Before making any choices, first make sure that you know exactly: how much money you will receive; how often you will receive it (is it a one-time payment; a scheduled series of payments that will last for a specific period of time, or is it a large enough sum that could create a permanent change in
• Credit and Debt Problems Created in College
  If you are a student and feeling in over your head with debt, you aren’t alone. Frequently students finance their education with a combination of student loans, private loans, family assistance, work, and scholarships.. If you are a student and feeling in over your head with debt, you aren’t al
• Identify what you want to keep… and what you're willing to give up
  It can be overwhelming and somewhat fearful to think of having to re-evaluate your entire lifestyle. So don't.. It can be overwhelming and somewhat fearful to think of having to re-evaluate your entire lifestyle. So don't. For right now, focus on what is absolutely essential to you and
• Claim tax benefits you may be eligible for due to the disaster.
  There are possible tax relief measures you can qualify for if your property was damaged or destroyed. For example, if your property losses were more than 100 and more than 10% of your adjusted gross income you can deduct them from this year's tax return.. There are possible tax re
• Working on a New Budget
  Your, or your loved one’s, short-term disability may have changed your normal financial situation because: you or your loved one is unable to work, or work at full capacity, for a period of time resulting in a temporary loss of income, or because of increased costs related to the disability (i.e. do
• Working with Your Lawyer
  Your lawyer is your legal advocate. That means that he or she should listen carefully to you, explain the legal process, propose solutions that meet your needs and goals, and argue for you with your husband’s lawyer and in court.. Your lawyer is your legal advocate. That means tha
• Debt Settlement
  In the same way that divorcing spouses split assets, they also have to split, or share responsibility, for debts incurred during the marriage. The court won’t care whose idea the loan was, or who benefited from it more.. In the same way that divorcing spouses split assets, they also have to spli
• Identifying Income
  Most couples immediately think of their combined salaries (if both spouses work) as their total income. But there are numerous other possible sources of income that you bring in, including: Salary, hourly wages, tips Part-time or seasonal work Earnings from businesses Interest on investments (checki
• Working on a New Budget
  Your, or your loved ones’ long-term or chronic disability may have changed your normal financial situation because: you or your loved one is unable to work, or work at full capacity, for a period of time resulting in a temporary loss of income, or because of increased costs related to the disability
• The Far-Reaching Effects of Filing for Bankruptcy
  While bankruptcy offers the chance for a financial new beginning, it’s not without its costs. Because declaring bankruptcy has such enormous long-term consequences, it should really only be considered as a last resort and with professional financial advice.. While bankruptcy offers t
• When Debt Is Overwhelming You: Difficult Financial Decisions for Difficult Times
  As a single mother Dana is used to making her income stretch. But with the rising cost of basic necessities like gas, food and utilities, and her growing son's needs, her paycheck isn't stretching far enough.. As a single mother Dana is used to making her income stretch. But with the
• What do I ask a professional the first time?
  If I decide to use a professional financial advisor, what questions should I ask when I meet with him/her for the first time? Good for you. You want to be well-prepared for meeting with a potential financial advisor.. If I decide to use a prof
• Home Maintenance Fraud
  Home maintenance schemes involve unscrupulous contractors and con artists who talk homeowners into overly-expensive or unneeded home repairs. The most common types of offers include driveway finishing, new roofing, and home siding or window work.. Home maintenance schemes involve unscrupulous cont
• Protecting Your Loved One from Fraud and Scams
  Because seniors are more frequently at home, may be lonely or feel less engaged in the world, are more apt to answer the phone and are less likely to cut off a conversation with a sales person or other “friendly” or “helpful” stranger they are more vulnerable to becoming the victim of fraud. Frequen
• What help can my bank provide
  Banks provide many services. They provide accounts, such as checking, savings, and money market accounts.. Banks provide many services. They provide accounts, such as checking, savings, and money market accounts. Most banks also have investment representatives who can explain diffe
• Informational Interviews
  One of the best ways to prepare for a job interview is to, well, interview. Sound confusing? Informational interviews are interviews that you set up with friends, colleagues, and professionals working in your industry for the purpose of learning more about their jobs and related positions within the
• Getting Professional Help
  If you’re at a point where you are having credit card problems, facing staggering debt, are receiving overdue notices, or getting calls from collection agencies you may feel scared. If you’re overwhelmed, can’t figure out how you are going to get out of this, or just feel like you could use someone
• Preventing Burnout
  Caregiving can be a demanding and often unrecognized job. According to Mildred Hogstel, a gerontological nursing consultant and author of Handbook for Family Caregivers, there is a natural cycle of caregiver feelings: Fatigue Resentment Anxiety Anger Depression Stress Guilt Each of these emotions ca