Your Bailout: Slash your Credit Card Debt

As the credit crisis winds toward its inevitable conclusion, the number of customers unable to pay off their credit card is swelling. And credit card companies, facing the very real possibility of customers defaulting entirely, are now willing to come to a settlement for substantially less than the amount owed. With the credit card companies ready to deal, here’s what you need to know to get your own personal bailout.

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Plastic Wars:Credit vs Debit

Credit or debit? - an important question for those trying to come out ahead in recessionary times. The answer can be a little complicated. It depends on a few things, namely, your spending habits, your ability to pay your bills on time, and the total dollar amount that you pay with debit and credit. These are the variables that you can control. Unfortunately, they’re not the only ones.

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How to Pick the Right Mutual Funds

We recently covered the why and how of purchasing a mutual fund, but you were probably left wondering what exactly you should be looking for when choosing which funds to buy. It’s a great question and can often be a daunting one for a beginning investor. In reality, it’s relatively easy to research and find good mutual funds. Once you’ve done it a few times, you may actually begin to enjoy the thrill of the hunt!

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Why and How to Buy a Mutual Fund

The simple answer to the question ‘why should I buy a mutual fund?’ recalls the proverbial joke about the chicken crossing the road. The answer, ‘to get a good return on my investment’, or even more simply ‘to make money’ seems so obvious as to be almost an insult to one’s intelligence. But mutual funds are just one of a variety of potential investment vehicles. Stocks, bonds, and other investments that are available for purchase also offer the potential to make money. So what makes mutual funds the investment of choice for many? When you boil it down, mutual funds provide three major benefits for those who decide to invest in them.

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What the Credit Cardholders Bill of Rights Means for You

This Friday, President Obama is expected to sign the ‘Credit Cardholders Bill of Rights’ into law. The House of Representatives passed their version of the bill on April 30th by a 361-64 margin. In similar overwhelming fashion, the Senate passed their version of the bill in a 90-5 route. The House has agreed to collaborate and adopt the Senate’s version of the bill, which has been deemed to be more strict on credit card providers than the House version. So what does this mean for you?

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Understanding Stock Quotes

At one time or another most of us have seen a stock quote. But how many times have you wondered what one of the metrics in the quote actually meant? It’s not too difficult to venture a guess as to what a 52 week high is, but even experienced investors might have a much harder time clearly explaining what market cap, forward p/e, and beta are, in their simplest terms.

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Will the Credit Cardholders’ Bill of Rights Bring Credit Relief?

In this economy, consumers are already reeling from credit card debt and the high penalty fees charged by credit card issuers are preventing many from escaping this downward spiral. The Credit Cardholders’ Bill of Rights, already passed by the House and winding its way through the Senate seeks to reform the credit card industry by providing protection for credit cardholders. Will it provide the relief that families need?

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7 Reasons Why Now’s the Time to Buy a Car

Sure there are more economical options out there. Using public transportation, carpooling or moving closer to where you work are all cheaper than buying a new car and greener besides. But if you really need a new car, there has rarely been a better time than right now. As a consumer in the midst of a recession at a time when automakers are struggling to survive and move vehicles, the deck is stacked in your favor. Why is right now such a good time to buy?

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7 Tips to Maximizing the Tax Benefits of your 401k(s) and IRA(s)

Tax season is almost over but there’s still time to maximize the tax benefits of your 401k(s) and IRA(s). Before you can begin reaping the potential benefits however, you’ll need to ask yourself a few questions relating to your current station in life and where you’d like to be come retirement age. Here are the 7 things you should understand before you make the critical decision of how best to invest for retirement.

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Should I Choose a Traditional, Roth, or SEP IRA?

Choosing where to put your personal retirement savings can be a difficult choice. What do Roth and SEP even mean? Hopefully, the summary and comparative visual chart that follows will help to take the stress out of choosing where your retirement funds should be located and reaffirm the decision for those who have already made the choice.

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