Finance Globe

U.S. financial and economic topics from several finance writers.

Tips for Spending the First Paycheck From a New Job

Whether it’s your first job or just a new job, the first paycheck is critical. There’s often a lag between the day you start and the day you get your first check, so you may be anxious by the time the check comes. But, make sure you have a sound plan for how you’re going to spend that check and every check that comes after it. Don’t start spending before you actually get the first paycheck....
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One Third of You Aren't Paying Your Bills on Time

April is Financial Literacy Month and to celebrate, the National Foundation for Credit Counseling and the Network Branded Prepaid Card Association have completed a financial literacy survey. One of the most surprising results is the number of adults who aren’t paying their bills on time each month – up to 77 million U.S. adults based on survey results. It’s crucial to pay both your credit and non-credit bills on time each month for a few important...
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The Cost of Borrowing With a Low Credit Score

Borrowing money from big banks isn’t free. Everyone pays interest on a loan, but people with lower credit scores typically have to pay more interest than borrowers with better credit. Banks assign interest rates to credit cards and loans based on the borrower’s credit score. Generally, people with low credit scores end up with higher interest rates and ultimately a higher cost of borrowing. Credit Score Impact on Mortgage Rates If you’re planning to apply for...
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Setting Up a Budget That Works

A good budget is part of the foundation for financial success. A budget is nothing more than a plan for how you’re going to spend the money you earn. It helps you predict income gaps and helps you see the best way to use your money. You can use a budget to guide your everyday spending and to meet financial goals but you have to set it up correctly. Start with a positive attitude about budgeting....
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Learn the Signs of a Sweepstakes or Contest Scam

The FTC received 1.8 million consumer complaints in 2011. Scams related to prizes, sweepstakes, and lotteries were third on the list of top complaint categories with more than 100,000 complaints. Identity theft and debt collection were the top two complaint categories. Falling for a sweepstakes scam can be costly; you might be out of hundreds or thousands of dollars. Thieves may even scam you out of enough personal information to commit bank fraud or identity theft,...
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Four Things You Can Do With a Salary Increase

One of the best things you can hear from your boss is that you’re getting a raise. You might start making plans for the money as soon as you hear the good news. But, make sure your plans include a few things that will improve your overall financial well-being. Put it toward your debt. A pay raise is perfect to accelerate your debt payoff. If you haven't been able to pay more than the minimum, a...
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Job Search Scams Threaten Your Identity and Your Wallet

One thing you can be certain of with identity thieves and credit card fraudsters, they don’t discriminate with victims. As if job hunting wasn’t hard enough, you have to beware of scams that could lead to credit card fraud or identity theft. Posting your resume online or even just responding to job ads makes you a target for job search scams. There are a few of them to watch out for. Examples of Job Search Scams...
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Prepare for Unemployment While You're Still Employed

Few people have guaranteed job security. Even in a stable job market your job is at risk. That’s why it’s important to take steps to prepare for unemployment now, especially while you still have a job. Hopefully, you’ll have never have to deal with an unexpected job loss, but if it happens, you’ll be happy you prepared for it. Build an Emergency Fund Traditionally, the ideal emergency fund would cover three to six months of living...
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Beyond cheap wrapping paper

Everyone knows that January is the time to buy holiday ornaments, wrapping paper and winter clothing at rock bottom prices, but did you know that you can save tons of money on many more exciting things this month? So, while you're out stocking up on wrapping paper at 99 cents a roll, consider shopping around also for some big ticket items you didn't think you could afford. Below is a list of items typically available at...
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Choose a Prepaid Debit Card Carefully

In this age of electronic transactions, it’s hard to shop without plastic. Credit cards and debit cards make life much easier, allowing you to swipe for purchases instead of counting up the dollars and cents needed to take care of your balance. Unfortunately, past financial problems make it hard for some people to get access to a credit card and sometimes even a debit card. For those consumers, prepaid cards are an alternative. But, these cards...
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