Answered Guide to Money Questions
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Question:
How do I Get Rid of Debt for Good?
Answer: Many Americans are stressed about debt. Some lose sleep over it, argue with their spouses about it, or even have physical symptoms related to it. If you want to get rid of your debt once and for all, give yourself an extreme debt makeover. An aggressive debt reduction plan requires a serious commitment. But paying down debt doesn't have to be an all-or-nothing proposition. I've heard people with debt reduction plans say "I'm never going to spend money again!" Now how silly is that? Of course you have to pay for housing, buy food, pay utilities, etc. And yes, you may even eventually have to buy Junior a new pair of shoes for his growing feet. The key is to put together a workable plan with aggressive debt reduction techn ... Read More
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Question:
What are bonds?
Answer: Bonds are one of a group of so-called "securities," contracts used by companies and governments to raise money for their operations with an underlying asset as security. For companies, the company's goods, revenue streams and properties secure the bond. Government bonds are secured by future tax receipts. Bonds and stocks are completely different animals. While stocks are equity, bonds are debt, secured by the assets of the company that issues the bond. The language of bonds Bonds come with their own unique terminology. The best way to start thinking about them is to view them in the same way as the debt you already understand, like a mortgage. When you take out a home loan, the underlying asset (the thing that will secure your loan) is the ... Read More
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Question:
What are treasuries?
Answer: Treasuries refer to various investments offered by the U.S. Treasury Department, the part of the government that makes sure there's enough money for the entire government to keep operating. The U. S. Treasury funds just about everything the U.S. does, including paying social security checks, giving emergency aid to citizens harmed by natural disasters, and paying the president's salary. When the U.S. Treasury has more accounts payable (government salaries, maintenance of federal property, interest payments to foreign nations, food stamps and the rest of it) than accounts receivable (taxes, fees, tariffs and the sale of everything from postage stamps to dollar coins) it needs to borrow money, which it does by offering debt securities to the ... Read More
Do you want the lowest possible payment at all costs? Do you want the stability of a fixed rate, no matter what? If refinancing, you might be looking for a lower interest rate. Or you may want to here Read more >>
How Do I Create a Budget?
Everybody has different financial goals. While some are saving for a special purchase, others may be focused on saving for retirement, or working to get out of debt.
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Should I Buy Software to Manage Your Money, or Go With the Free Stuff?
Buying software to manage your finances might end up being counterproductive. For example, if you buy an expensive personal finance software package that you never use, it could
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What are Free Tools to Help Me Manage My Money?
All too often, people assume that money management is a premium service that only the wealthy can afford. In today's world, thanks in large part to the Internet,
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In the past, credit card companies were all over college campuses handing out pre-approved credit cards to young adults regardless of whether they had a job or money in the bank. If you're under 21, the Credit CARD Act of here Read more >>
How Do I Choose Auto Insurance?
Is your father's insurance company right for you?
Many people split from their parents' policy, and never question whether or not it is right for them. This does
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How do I Get Rid of Debt for Good?
Many Americans are stressed about debt. Some lose sleep over it, argue with their spouses about it, or even have physical symptoms related to it. If you want to
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What Do I Need to Know About Homeowner Insurance?
Shopping for any type of insurance can be intimidating. Your home may be one of your larger investments, and it is important to protect that investment. By better
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What's wrong with opening multiple savings accounts? The first step in developing a savings plan is to identify your goals and figure out how you will meet them. While the lucky few among us begin our adult life with a substantial here Read more >>
What's the best way to handle a financial windfall?
I was working in a car dealership in Las Vegas, trying to qualify a woman for an auto loan. Trying to find a loan for a person with a 504
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What's the difference between a credit union and a bank?
Credit unions and banks work basically the same way. Both accept deposits and use those funds to make loans. Both are perfectly good places to keep your money. Just as
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How do I choose the best bank?
For more than twenty years, my husband and I stayed with the same bank, the one in the shopping center where we bought our groceries every week. Their customer service
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How do you know if you are spending too much money? You run out of money before you run out of month. You are now that friend that no one invites out because you are "always broke". That twenty you here Read more >>
How do I have fun in the winter without spending lots of money?
Long nights, less sunshine and gloomy or cold days can get even the most upbeat person a bit down. Add this to holiday shopping expenses and less than flexible wallets
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I don't have any extra cash, how do I save money?
Saving money is easier said than done when you already feel strapped for cash. However, with patience and discipline, the saving habit can become second nature. Here are some ways
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How Do I Avoid the Urge to Spend?
It's tough to go anywhere these days without someone or something enticing you to part with your hard-earned cash. There seem to be more incentives to spend, than
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Before you begin to answer the question, "Should I risk money in the stock market?" you should first assess your investment goals, needs and risk tolerance using this series of questions: What are my investing goals? When will I need this money? here Read more >>
What are bonds?
Bonds are one of a group of so-called "securities," contracts used by companies and governments to raise money for their operations with an underlying asset as security. For companies, the
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What are commodities?
Commodities refer to physical goods, usually raw materials used in manufacturing and production, that are essentially interchangeable. One bushel of wheat produced by an Iowa farmer is assumed to be
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What are money market funds?
A money-market fund is a very low-risk type of mutual fund, meant to be as close to cash as possible while still earning a modest return. It is different from
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Being a millionaire feels out of reach to a lot of us. However, it's not. With the right attitude and approach to money, you can become a millionaire. In fact, changing your mindset about what it means to be a here Read more >>
How do I get rid of credit card debt?
It doesn't matter how you got into debt. Maybe you maxed out a student card, or you've been unemployed and living off your credit card, or you've just been running
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What happens if I file for bankruptcy?
If you're having trouble paying your debts, you might be wondering if it's time to file for bankruptcy. A bankruptcy filing is essentially your legal statement to creditors that you
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What happens when your home gets foreclosed?
Foreclosure is a very real threat that many people are facing today. When you get to the point where you are having trouble repaying your home loan, your financial situation
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You've probably heard of a Roth IRA, but unless you understand the basic features and advantages of these plans, you haven't fully explored your retirement savings options. If you play your cards right, a Roth IRA can save you money here Read more >>
What's an IRA?
A classic description of retirement funding is that it is like a three-legged stool, but with at least one of those legs getting a little wobbly these days, you may
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How much should I put in my 401(k)?
You probably know that contributing to a 401(k) plan is the right thing for your future, but how do you know how much is enough? The right contribution level depends
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Is a million dollars enough to retire on?
The title "millionaire" still carries a cachet of wealth and ease, but the truth is, being a millionaire isn't what it used to be. Perhaps more to the point, by
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