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Author Archives: Guest Post

How You Can Get a Mortgage With a 550 FICO Score

get out of debt

Mortgage credit remains extremely tight, even as the economy continues to recover from the recent housing crisis and recession. About 90% of mortgages originated in 2013 went to borrowers with FICO credit scores of 660 or higher — about 60% of all mortgage borrowers had a credit score greater than 720, according to a recent report from the Urban Institute. ... Read More »

    4 Emotions That Can Cost You Money

    get out of debt

    We all get emotional – it’s human nature. The trouble sometimes comes when our emotional side overrules our rational side for money matters. Check out some of the common ways emotions can hurt your finances, discover if you are an emotional spender and how to combat the problem. 1. Jealousy It is easy to become bitter when we see other ... Read More »

      How Long Does It Take to Become Rich?

      get out of debt

      How long does it take for the average rich person to become rich? Ten years, 20 years? How about 32 years. That’s how long it took the average self-made millionaire, according to my data. In my Rich Habits Study, 76% of those who were wealthy were self-made millionaires. They came from non-wealthy households: 31% of these millionaires came from poor ... Read More »

        Should I Get a Loan for a Used Car?

        get out of debt

        One of the many decisions consumers must make when buying a car is whether to get a new vehicle or a used one. Even though a used car is generally cheaper than a new one, it makes the car-buying process much more complicated, especially if you need to finance it. Some people argue that taking out a loan for a ... Read More »

          3 Ways to Increase Your Chance of Receiving a College Scholarship

          get out of debt

          The cost of attending college increases every year, and that probably isn’t going to change anytime soon. The best way for students to reduce what they’ll be spending is to apply for college scholarships. Everyone knows that good grades and test scores will help, but there are a few other ways to increase the chances of receiving free financial aid. ... Read More »

            10 Things Everyone Should Know About Credit Scores

            christine-credit

            The last time I got up in front of a group to talk about my job, no one had questions for me. It was a high school career day a few weeks ago, and the students stared at me blankly as I dropped words like “personal finance,” “credit scores” and “debt.” I could tell they thought my work wasn’t exciting, ... Read More »

              7 Things You Need to Know About the Statutes of Limitation for Debt

              handing_over_money

              If you have old unpaid debts, it can be helpful to know the statute of limitation that applies to those debts. If the statute of limitation (SOL) has expired, a debt is said to be “time-barred,” and a creditor or debt collector is not supposed to sue you to collect. Here are the seven most common questions we’ve received from readers ... Read More »

                Beth’s Story: Should I Consider Bankruptcy?

                tax_audit_questions1

                For more than a decade I have used a fairly specific approach to help people find their way when struggling to keep up with their bills. I generally focus on six mainstream options to deal with debt, including filing for bankruptcy, debt consolidation loans and negotiations with creditors and debt collectors. Once I gather some basic facts about an individual’s ... Read More »

                  4 Non-Banks Where You Can Get a Mortgage

                  mortgage_rates

                  Getting a home loan doesn’t require a trip to the bank. In fact, 37.5% of mortgages originated in 2014 came from non-bank lenders, according to Inside Mortgage Finance. That share has grown significantly in the last few years, but it’s not a new concept. Non-bank lending declined dramatically during the mortgage crisis, but the current market share is similar to ... Read More »

                    How to Go From ‘C’ Student to Self-Made Millionaire

                    Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

                    Do you have to be naturally smart in order to strike it rich? Is intelligence a prerequisite for success? In my five-year study of the daily habits of 233 self-made millionaires and 128 individuals at or near poverty (Rich Habits Study – Background on Methodology) I uncovered the answer to these and many other questions. Let’s take a look at ... Read More »

                      Millennial Entrepreneurship: The Dream vs. The Reality

                      Millennial-Entrepreneurship-Dream-e1426726544434

                      I’m what you might call a wannabe serial entrepreneur. Rarely does a week go by without some version of a million dollar idea exciting me with possibilities of solving the world’s problems while simultaneously becoming rich myself. Clearly dreaming big isn’t my problem. But there’s a big difference between the entrepreneurial spirit and entrepreneurial reality. I can come up with ... Read More »

                        Massive Auburn University Data Breach Ensnares Applicants, Students & Those Who Never Even Applied

                        ID Theft or Stolen Identity

                        Thousands of students who never even applied to Auburn University have had their personal information, including Social Security numbers, exposed due to a security flaw discovered March 2. Information about 364,012 current, former and prospective students was accessible online between Sept. 1, 2014, and March 2, 2015. “The exposure resulted from configuration issues with a new device installed to replace ... Read More »

                          3 Ways to Avoid Costly Rental Car Insurance

                          Drive Carefully

                          I’ve been rear-ended in a rental car by a hit-and-run driver. And on my last business trip, the rental agent almost foisted a car with a scratched-up bumper on me. (Thankfully, I remembered to inspect the vehicle before I left the lot and asked for a different one.) So I know firsthand the importance of making sure you have adequate ... Read More »

                            Feds: Millions Targeted by ‘Phantom’ Debt Collection Scheme

                            angry woman

                            A Georgia firm called millions of consumers attempting to collect on “phantom” debts, and tricked consumers by citing personal information purchased from payday loan lead generators, federal investigators allege. A lawsuit against Universal Debt and Payment solutions and a host of related companies was revealed Wednesday, alleging the firm’s tactics included purchasing personal information from data brokers that operators could ... Read More »

                              The Myth of the 4-Year College Degree

                              college-class

                              Choosing the right college involves some serious decisions. Where to attend, how much it will cost, and is it affordable, are usually the first questions that come to mind. Many people tend to base the answers to these questions on the annual tuition information posted by schools, and assume that it will take them four years to obtain a “four-year ... Read More »

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