Say ‘No’ to Debit Cards for Teens
By Janet Bodnar, Kiplinger’s Personal Finance Even as consumers try to unload credit-card debt – and card issuers try to unload high-risk borrowers – some banks are still trying to get teenagers hooked on plastic. “Call it plastic on training wheels!” chirps the press release for the new Current Card by Discover, the latest debit card aimed at “kids, tweens and teens.” I’ve never been a fan of these cards, and I like them even less given the current economic climate. The idea is that parents deposit money in the card account, which the kids can use to...
Read MoreYou Received an IRS Notice. Now What?
Every year, the IRS sends millions of letters and notices to taxpayers throughout the year. And just because you receive a notice doesn’t mean you’re being audited or you have something to worry about it. But don’t take my word for it. Here is a list of things every taxpayer should know about IRS notices, straight from the IRS. Don’t panic. Many of these letters can be dealt with simply and painlessly. There are number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional...
Read MoreCredit Protection: Do it Yourself or Call in the Pros?
There seems to be a lot of credit protection companies popping up recently that promise to help you lock down yourcredit information and protect your identity. And while these services can be valuable and worth the subscription fees and cash guarantees, there are steps proactive consumers can take to protect their personal credit information and save a few bucks in the process – if they’re up for the challenge. The following are a few pros and cons of both options. Fraud Alerts – The main step credit protection programs take is to activate a fraud alert on your credit profile at all...
Read MoreWhat’s In Your Wallet?
In recent years, there has been an explosion in the number of credit card issuers and – perhaps more confusingly – in the types of rewards being offered by those credit cards. So now, you not only need to consider the rate and terms of your credit card, but also what rewards or other benefits it offers. The following information can help you consider what types of rewards are out there and which is best for you. Airline Miles: If you travel frequently, then maximizing your airline miles may be the very best reward. And if you primarily fly on a single carrier, you will do the best to...
Read More6 Money Skills for Kids
Janet Bodnar of Kiplinger.com walks you through 6 money skills kids need to know before they leave home, such as managing an allowance and how to shop. If you enjoyed this post, why not connect with me elsewhere? If you’re looking for a mortgage in the Atlanta area, you can visit my primary Peachtree City and Newnan mortgage lender website at www.wdarrellwalters.com. If you’re interested in Free Business Boosters for Real Estate, visit www.freebusinessboosters.com....
Read MoreMinimum Payment = Maximum Payoff Time
From Ric Edelman’s Inside Personal Finance Want to be your credit card company’s favorite customer? Just max out your card’s limit, agree to pay interest at a rate of 18% to 25%, and make only the minimum payment each month. The minimum monthly payment is set by each card issuer, but it’s typically about 2% of the outstanding balance. Card companies want you to pay only the minimum, so that most of your payment is interest, not principal. While you might be tempted to make only the minimum payment, that could be one of the most expensive decisions you ever make....
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