-
Paying Off Higher-Interest Rate Debt First
Tweet Share on Facebook April 29, 2011 Comment (2)Dear Alpha Consumer,
Recently, I tried to pay off some of my credit card debt but my credit card issuer said that I wasn’t allowed to pay off the higher interest rate debt first. (I have about $14,000 from purchases at a 9 percent rate and $41,000 from cash advances at a 20 percent rate.) Are they allowed to do that? Also, if it makes a difference, the card is a business account.
—In Debt and Frustrated
-
Kate Middleton’s Lessons in Royal Frugality
Tweet Share on Facebook April 27, 2011 Comment (3)Kate Middleton, who weds Prince William Friday, might be joining one of the wealthiest families in the world, but she appears to be as frugal as the queen herself. In addition to shopping sales and doing her own wedding make-up, she and Prince William have opted to live without servants. She prefers heirloom jewelry to new, flashy pieces, and despite her family's riches, she isn't known for living large.
-
The Best Credit Cards for New College Grads
Tweet Share on Facebook April 26, 2011 Comment (6)If you’re graduating this spring, there’s one thing you probably want as badly as a job: a credit card. That’s because the new credit card regulations, as well as the credit crunch and stepped up limits on how card companies can market on campuses, have made it harder for college students to own their a piece of plastic. But as soon as you graduate into the real world and start earning income, the world of credit opens up, and credit card issuers try to woo you with the intensity of a street hustler selling sunglasses.
-
Earth Day: 10 Ways to Go Green and Save
Tweet Share on Facebook April 21, 2011 Comment (1)In honor of Earth Day, we pulled together ten of our favorite ways to save money while going green. Together, these strategies can save you over $1,000 a year.
[See the best personal finance stories from around the Web at the U.S. News My Money blog.]
Put your home on an energy diet. Make sure your home is properly insulated so you can use less heat and air conditioning. Closing doors to unused rooms, like a guest room, helps, too. Also, be sure to unplug appliances, turn off lights, and shut down computers at night. Even televisions can use up power when they're turned off, so either unplug them or use power strips that automatically shut the power off when they're not turned on. A lot of energy gets wasted on technology that we're not even using most of the time. (See 8 Easy Ways to Green Your House in 2011.) Savings: $15 and up each year.
-
Stay-At-Home Moms Face Credit Card Bias
Tweet Share on Facebook April 20, 2011 Comment (9)If you’re a stay-at-home mom, apparently you don’t deserve your own credit card. That’s essentially the message from the Fed, which recently announced a new rule requiring credit card companies to consider individual income and not household income on credit card applications. That means a stay-at-home spouse without income of her own could soon find it impossible to obtain a new card. Sure, she can be an authorized user on her husband’s card or use a secured card that's pre-loaded with cash, but neither of those solutions offers the same flexibility or freedom that comes from having a card of her own.
-
Why New Parents Can’t Get Credit
Tweet Share on Facebook April 19, 2011 Comment (2)Babies bring many surprises, but here's one you might not expect: New parents can find it hard, if not impossible, to take out new loans if they are still on leave from work. That means moms on maternity leave can get denied when they apply for mortgages or, soon, even new credit cards. And because parenthood so often coincides with big purchases—TheBump.com reports that 45 percent of expectant moms plan to move to a new home before their child’s second birthday—this credit clampdown can throw some serious rain on a new parent's parade.
-
Your State and Your Money
Tweet Share on Facebook April 13, 2011 Comment (2)Where you live, it turns out, has a lot to do with how much you pay in taxes. States are increasing taxes on high-earners ($250,000 and up) in an effort to boost their own budgets, which means anyone in an upper-income bracket might want to mull over a move to a cheaper state. My story today delves into the ins and outs of various state tax hikes, and how to avoid them, if you’re so inclined.
-
What You Really Need to Know About Money
Tweet Share on Facebook April 12, 2011 Comment (1)It’s financial literacy month, which means everyone’s offering ideas on how to end the dearth of financial knowledge in this country. Mandate personal finance courses in high school. Convince parents to talk about their own budgets with their kids every night. Elect Suze Orman president of the United States. (Okay, no one actually suggested that last one.)
-
Audio: The Upside of Tax Refunds
Tweet Share on Facebook April 11, 2011 Comment (3)Over the weekend, I spoke with Tess Vigeland on Marketplace Money about the upside of receiving a tax refund. Yes, we’ve all heard the traditional advice: If you receive a refund, then you’re giving Uncle Sam an interest-free loan. But there are benefits to receiving a refund, too. We can use it an opportunity to pay off debt, start an emergency fund, or splurge on something fun. If we instead receive slightly bigger paychecks all year long, then the money is more likely just to disappear. While it makes sense in theory to pay the correct amount, in practice, a refund can give us the chance to get a little pick-me-up once a year.
-
Video: Generation Earn Money Tips
Tweet Share on Facebook April 8, 2011 Comment (1)I recently visited the Living Well Network in Philadelphia to talk about the best money tips for young professionals, including how to decide when you're ready to buy a house.
