Home > News
The Money Answers Blog

 

Student loan debt in our country has reached horrifying levels with no end in sight!

 

READ ARTICLE

Do you love the rewards that come with your credit card? Or could you be one of the majority of reward credit card holders who are unclear about the major benefits that your card offers?

READ ARTICLE

Are your personal finances stressing you out? If yes, these 6 steps can help you better understand exactly where you stand financially, give you confidence that your personal finances are under control and help you plan for your future. Good stuff.

READ ARTICLE
While credit scores rarely ‘make or break’ you, much of life is easier when you have a strong credit score. Poor credit scores can make life challenging! Some of the surprising consequences of poor credit include being rejected for jobs, being declined when applying to rent an apartment or house, being denied credit or paying sky high rates for credit, utility companies requiring security deposits, inability to get a cellphone contract, and paying higher premiums for car insurance.

Getting good credit has been elusive for many who fall short in the ways in which FICO credit scores have been traditionally calculated. FICO scores have been calculated for decades based on borrowers’ payment histories. If you didn’t borrow you couldn’t build credit history. Using cash for a purchase, regardless of how large or what kind of purchase, doesn’t contribute to building your credit history.
READ ARTICLE
Have you begun looking ahead to retirement? Whether retirement is getting close or whether you’ve got decades yet to plan, now is the best possible time to work on making your retirement reality a safe and secure one.

How much do you need to retire and at what age should you retire?

Deciding when to retire is usually a combination of when a) you qualify for Social Security, b) when you qualify for Medicare, c) when you decide to take Social Security and d) when you feel confident retiring. Of course life circumstances such as loss of employment or poor health can force the decision but for most of us, safety nets and adequate resources are the determining factors.
READ ARTICLE

Housing markets across the globe are showing signs of strain. A recent study published on Fortune showed how homeowners in Hong Kong need to work for 22 years to afford a 646-square-foot-home. Hong Kong tops the UBS Global Real Estate Bubble Index for 2018. 

READ ARTICLE
Which way is the wind blowing when it comes to the Affordable Care Act, popularly known as Obamacare? 
 
Signed into law by President Obama in March 2010, the Affordable Care Act (ACA) was intended to make basic health care accessible and meaningful for everyone by creating a new transparent and competitive insurance marketplace. Phased in in stages, health insurance became mandatory with the non-insured paying tax penalties, high risk individuals could buy previously unattainable insurance through a federal high-risk pool, extending for children through parental insurance plans to age 26, closing Medicare D drug plan gaps, and much more.
READ ARTICLE
What could be more quantifiable, more rational, more black and white than money? The problem is that we are not always rational and no matter how we try, this fact immediately alters the world of our personal finances. In other words, when it comes to money, two plus two might equal four but when we add in our emotions this equation may not hold.

Money, quite simply, is an emotionally charged topic.

When people think about having a lot of money they think about how it can bring them happiness and fulfillment - and an exciting new definition both to their lives and their very sense of self. It’s not the actual numbers that make the difference. The definition of ‘a lot more money’ is different for everyone and is reflected in what people want to do with it.
READ ARTICLE

Is owning a home still an essential part of the American dream? Yes! According to a 2017 Pew Research Study, 43% of respondents said that owning a home was an essential ‘Dream’ element.

Despite remaining part of the ‘American Dream’ homeownership is at its lowest rate since 1994. 64% of Americans own their own home in 2018, down from the peak rate of 69% in 2005.

READ ARTICLE

Who hasn’t experienced running short of money? Whether the cause is illness or medical co-pays, a car emergency, family or pet crisis, a bigger than expected bill or plain old overspending, coming up with cash in a hurry is an urgent need many people face during their lifetimes. And they’re turning to personal loans to ease the pinch.

READ ARTICLE