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7 Ways to Jumpstart Paying Off Your College Loans
Tweet Share on Facebook May 15, 2012 Comment (4)With graduation rapidly approaching for thousands of college graduates (or if you’re recently out of school, this still applies to you), the next most challenging hurdle will be to actually repay the student loan debt you incurred over the last four years. Millions of Americans struggle daily with debt, so being strategic with your student loan repayments right after graduation will do wonders for your finances later on. With student loan debt recently surpassing even credit card debt, it will be a common scenario for people to take years to repay the money. Just make sure you’re not one of them.
Since I have been out of school for a while now, I can tell you firsthand just how much better things would be if I had started saving more and repaying my loans back earlier. If I could turn back the clock a few years, here are a few strategies I would use to jumpstart the loan repayment process:
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How To Make An Extra $1,000 Without Much Work
Tweet Share on Facebook May 14, 2012 CommentThere’s a legitimate way for you to boost your income by $500 or even $1,000 per month without spending a ton of money and time to get started.
I call it The Remora Method and it's a proven strategy for building a profitable side business (or full-time business for that matter).
Let me tell you how it works and give you three examples of real people following this strategy.
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Will the Occupy Movement Embrace Prepaid Cards?
Tweet Share on Facebook May 11, 2012 Comment (1)This week the Occupy movement has zeroed in on Bank of America. The big bank has been a frequent target of Occupy’s wrath. Recall that BofA’s failed attempt to charge a $5 monthly debit card fee helped give birth to Occupy Wall Street.
As consumers continue to rage over the high cost of banking, an unlikely ally is on the rise: the prepaid card.
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Homeowners: Watch Out for These 5 Common Mortgage Scams
Tweet Share on Facebook May 10, 2012 Comment (1)Think you're knowledgeable about the housing market and home financing process? You may consider yourself an expert on mortgages (take this real estate quiz to prove it), especially if you're currently looking to finance your first home or have been a long-time property owner. But what about the numerous threats to your home and financial security that currently exist? They may not even be on your radar.
Though lending practices are now under a lot more scrutiny thanks to the housing market crash in 2007, it means predatory lenders and scam artists have to be that much sneakier when it comes to duping borrowers. Considering the number of mortgage delinquencies and foreclosures today's homeowners are experiencing, it also means there is plenty of opportunity for them to try.
Whether you're struggling financially—or even a current homeowner, for that matter— it pays to be aware of the most common mortgage scams so no one can profit off your inexperience or trust.
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Travel for Free: How Credit Card "Churners" Do It
Tweet Share on Facebook May 10, 2012 Comment (2)A few years ago, I started searching for the best ways to save money on airline flights.I wanted to see the world -- or at least the United States -- but I didn't have a bottomless budget. In the end, I found something surprising.
There is a group of people who are flying for free by using a strategy that is the complete opposite of what most people do. Here's how it works:
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7 Weird Ways to Hurt Your Credit Score
Tweet Share on Facebook May 9, 2012 Comment (2)The FICO credit score equation might be a black box, but there have been thousands of articles written about what you should and shouldn't do when it comes to your credit score. Most of them are pretty obvious—pay your credit card bills on time, don't apply for a lot of credit, and keep your nose clean. There are, however, a lot of weird ways you can hurt your score without you even realizing it.
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For Financial Success, Run Your Life Like A Business
Tweet Share on Facebook May 8, 2012 Comment (1)I know that in the age of the 99 percent versus the 1 percent, the word “business” can sound like a four-letter word. But the reality is that we can all learn a great deal from successful businesses. All we have to do is apply those lessons to our personal lives. (This is true no matter what your political views are.) Let’s examine this to determine if you think the argument holds water.
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6 Myths About Starting Your Own Business
Tweet Share on Facebook May 7, 2012 CommentIf you have an entrepreneurial spirit and are inspired to launch your own business, don’t let some common myths hold you back. Your big idea or venture may never come to life if you think that certain obstacles are standing in your way. Maybe you know someone that launched a business and failed miserably, or think you should wait until you have more money to fund the venture on your own. Maybe you’re just not confident enough that your amazing idea will really take off. Or maybe you’re just scared to try something new. Whatever the case may be, it’s a good idea to re-examine some of your fundamental beliefs about entrepreneurship and make sure you haven’t already started believing some common myths and fallacies about launching a small business venture.
Here are six common myths about staring your own business:
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How to Finish College with No Debt
Tweet Share on Facebook May 4, 2012 Comment (7)Student loans have been in the news lately. The current brouhaha comes as interest on student loans is about to double. That sounds a bit more ominous than it really is. The rate will go from 3.4 to 6.8 percent—still quite low by historical standards. But if you are sporting $200,000 in school loans, any interest rate hike hurts.
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Bringing Innovation to Financial Literacy and College Affordability
Tweet Share on Facebook May 3, 2012 CommentOver the past several weeks, the media has been buzzing with reports about the student loan debt crisis and rising federal loan interest rates. It is a positive signal that these issues are receiving attention from policymakers and late night talk show segments, but the atmosphere surrounding college affordability remains politically charged. It is still uncertain whether this spotlight will result in lasting improvements, temporary solutions, or simply serve as a background for political agendas.
Even if we are a long way from consensus on improving the accessibility and affordability of higher education, there are organizations leading the way with innovative new approaches. For example, the start-up SoFi is creating new peer-to-peer lending networks by connecting alumni and students to offer low-interest education loans. Additionally, established companies and even government organizations have begun to challenge the traditional models of college finances. As news outlets continue to report on the student debt crisis, it is valuable to highlight the organizations that are helping to improve financial literacy and college affordability for students.
