In general, we have two options when it comes to having a place to live. We can rent a dwelling that someone else owns, or we can buy a place of our own. Home ownership is touted as the “American Dream,” but whether you should rent or buy depends greatly on your individual needs and financial situation. Here are some things to consider about both options.
Advantages of Buying
* When you purchase a home, it is yours to do as you please with it. The terms of your mortgage may prevent you from renting it out or doing anything that would decrease its value, but you can remodel, add on and redecorate to your heart’s content.
* Buying a home allows you to build equity that … continue reading.
Money isn’t always readily available for such things as expensive outings and activities for you and your family. With the uncertainty of the economy these days, more and more families are searching for free, frugal and money-saving ideas in order to keep the family having fun together without breaking the bank. How about trying some of these options to keep your family activities happening without the costly aspect some choices may have.
1) Your local community may have a “Parks and Recreation” website or booklet available to residents. These usually include a variety of activities in different price ranges, from free to inexpensive as well as those with a higher fee. There are quite often long lists of activities which fall into the free … continue reading.
Financial stress has many causes. For some, job loss or illness has made it difficult to make ends meet. For others, rising prices or unexpected expenses cause money worries. But whatever the reason may be, financial stress can take a serious toll on one’s health.
Financial stress is a frequent trigger of mental health issues such as depression. Worrying about how you’re going to pay the bills and put food on the table can take over your thoughts, and it becomes difficult to enjoy the good things in life. Another common issue is anxiety, which may be accompanied by scary panic attacks.
Depression and anxiety can lead to physical health problems. These may include stomach ulcers, high blood pressure and insomnia. Left untreated, stomach ulcers can … continue reading.
Studies have shown that money is one of the most frequents points of contention between married couples. But most of us don’t need a scientific study to tell us that. Whether you’re pinching every penny for all it’s worth or have more money than you know what to do with, sharing finances with someone else is bound to cause some disagreements.
Even the most compatible couples often have different ideas of how money should be handled. But that doesn’t mean they should call it quits if they can’t see eye to eye on financial issues. In many cases, it just means that they need to work on communication and compromise.
In many (if not most) couples, one is appointed as the financial manager of the household. … continue reading.
If you’ve ever gotten behind on your bills, you know that debt collectors are relentless in their efforts to get the money you owe. Sometimes, their behavior borders on harassment. If you’re getting calls from a creditor or collection agency, it’s important to know that you have certain rights.
These rights are outlined in the Fair Debt Collection Practices Act (FDCPA), which makes up a portion of the Consumer Protection Act. The FDCPA prohibits certain practices in the collection of debts and provides a means of disputing and validating the information that debt collectors have. It also requires debt collectors to notify consumers of certain rights and other information.
What Debt Collectors Cannot Do
A key aspect of the FDCPA is limitations on communication with debtors. A … continue reading.
Few people go through their entire lives without incurring some type of debt. When you go in debt, it’s important to know your rights and obligations. These rights and obligations vary according to the type of debt contract you enter into.
By definition, a contract is the exchange of promises between two people. This can take on many forms. When it comes to debt, there are four basic types of contracts:
* Oral contract – This type of debt contract has been around since the beginning of time. It simply involves one person lending another person money, and the borrower agreeing to repay that money. Nothing is put in writing.
Oral contracts are legally binding. The problem with them is that they are more difficult to enforce. … continue reading.
If you fail to repay a debt in full, it doesn’t just disappear. It’s usually sold to a collection agency, who may hound you about it for years. If that agency doesn’t collect payment, they may pass it on to another, and that agency may pass it on to another. And you may still get calls and letters about the debt years later.
Surprisingly few consumers know that debts are subject to a statute of limitations. This means that creditors and debt collectors have a certain time limit to collect the debt or sue. If this time limit lapses, they no longer have a case against the debtor. They can attempt to collect or even file suit, but if you use the statute of limitations … continue reading.
