Finance Globe

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

4 of the Biggest Balance Transfer Mistakes

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Taking advantage of a 0% APR promotional balance transfer offer can save you a lot of money on credit card interest. If you’re considering a balance transfer, make sure you avoid these huge mistakes. Trying to transfer balances with the same credit card issuer. Credit card issuers typically won’t let you transfer a balance from another credit card you have with them. Some credit cards may allow you to merge two accounts, combining balances and credit...
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4 Reasons to Stay At Your Job, Even When You Want to Quit

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We spend a lot of our time working, so if you’re not completely satisfied with your job, it’s hard to shake the idea of quitting. But, no matter how much you want to leave your job, there are some times when it’s best to stay put – at least temporarily. You don’t have another job lined up. It could take several weeks or even months to get a new job, especially during periods of high unemployment....
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Frank
With the people I work with, I usually tell them to make sure they have 2-3 solid leads or actual offers before leaving your curre... Read More
Tuesday, 26 September 2017 19:19
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5 Rules Credit Bureaus Must Follow

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Major corporations known as credit bureaus or credit reporting agencies compile your credit information then sell it to businesses that need your credit information. From getting approved for credit cards and loans to getting a job, the information in your credit report plays a major role in your life. Here are some rules defined by the Fair Credit Reporting Act that every credit reporting agency has to follow. They must make your credit report available to...
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Frank
The last comment is important to know as you have to specifically request it. It usually only takes ~10 minutes or so, and I alway... Read More
Tuesday, 26 September 2017 19:18
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5 Credit Card Transactions That Cost the Most

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When you use a credit card, you’re technically borrowing money from your credit card issuer. And, as with most types of loans, your credit card issuer will look for ways to make a profit from what you’ve borrowed. If you want to minimize the amount of money you pay to your credit card issuer, avoid the most expensive types of credit card transactions. Cash advances When you use your credit card to withdraw cash from an...
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Frank
I don't think I have ever taken a cash advance from my CC. The fees were always 3% plus $10. Never seemed worth it to me.
Monday, 25 September 2017 17:45
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What to Do If You Trigger Your Credit Card's Penalty Rate

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A credit card’s interest rate is one of the most important features, particularly for cardholders who carry a balance on their credit cards. Having a low interest rate means minimizes the cost of paying off a credit card balance over time. But, don’t take your interest rate for granted. If you’re not careful to make your payments on time each month, you could trigger your credit card’s penalty rate. What is the Penalty Rate? The penalty...
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Frank
I would also add: Call the credit card company and explain them your situation. Sometimes they can work with you and offer you an ... Read More
Monday, 25 September 2017 17:43
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4 Credit Card Features to Research Before You Apply

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Several of the latest credit cards boast a cutting-edge, sleek design that's far more attractive than plain old plastic. Cardholders would feel a rush of prestige to hand a metallic card to a waitress or whip it out in front of a line of customers. But, no matter how impressive a credit card is designed, you should never pick a credit card based on looks alone. Researching the most important features of whatever credit card you're considering is essential to making sure...
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Frank
When I pick out CCs, I usually focus on the rewards and don't care too much about the APRs given I am going to pay off my bill eve... Read More
Monday, 25 September 2017 17:41
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How to Avoid Dipping Into Your Emergency Fund

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It takes a lot of time, effort, and sacrifice to build a healthy emergency fund. Seeing so much money in your bank account can be tempting, especially when you’re constantly bombarded with advertisements for electronics, events, and trips. If you want to your money to be in your account when there’s actually an emergency, you have to avoid dipping into your emergency fund.  Reduce your spending to within your income.  Living within your means prevents the...
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Frank
latoyairby, how many months do you recommend to have for an emergency fund. I usually recommended at least 2 months, but in an ide... Read More
Wednesday, 26 July 2017 13:34
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8 Signs You're Doing Well Financially

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Do you ever think about your money and doubt that you’re doing well because you’re not where you want to be? Your finances might be in a better place than you think. Here are eight signs you’re doing well financially. You could survive a few months on your savings if you had to. If you lost your job today and couldn’t get another right away, do you have enough money in savings to last you two...
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Frank
These are definitely good signs! I can't say I do all of these, but alteast a few!
Sunday, 30 April 2017 20:46
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6 Signs It's Time to Leave Your Bank

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Some relationships are meant to be forever. Your relationship with your bank isn't one of them. Breaking up with your bank means going through the process of changing your direct deposit, getting a new debit card, and get used to the new bank. But, if your bank is no longer serving you well, the changes are necessary. Here are some signs it's time to leave your bank. They’re charging too many fees. A monthly fee might be acceptable...
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Frank
If you change banks, does that hurt your credit score?
Sunday, 30 April 2017 20:45
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Can Forbearance Save You From Loan Default?

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Major life events can affect your finances and your ability to pay your bills. Job loss, disability, death of a family member, or relocation can create temporary hardship and make it difficult to stay on top of all your expenses. One option for affording your bills during short-term financial hardship is forbearance. Under forbearance, the lender agrees to lower or suspend your monthly payments for a specific period of time; six months or a year, for...
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Frank
I have worked with a few couples where forbearance saved them from bankruptcy. Its not a perfect solution, but it can help you for... Read More
Wednesday, 26 July 2017 13:38
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