Finance Globe

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

How to Improve Your Debt-to-Income Ratio

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Your debt-to-income ratio is an important financial measure that tells the percentage of your monthly income that goes toward debt payments. In addition to your credit score, lenders use the debt-to-income ratio to approve your loan applications. Many lenders use your debt-to-income ratio to decide whether you can afford to take on mrore debt. Thankfully, unlike your credit score, you can calculate and easily manage your own debt-to-income ratio without much trouble and guesswork. Calculating Your Debt-to-Income...
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Wanderer
Great write up on how the Debt to Income works and the things we need to know to stay on our game. Working on mine so that I have ... Read More
Wednesday, 28 February 2018 18:55
Guest — Karina Watts
When I first started last year, my FICO scores were in the mid 500s to lower 600s. As of June 15, 2017, my partner and I were able... Read More
Saturday, 03 March 2018 19:58
Frank
Great article. My wife and I have been able to reduce our DTI from >40% to the low 20%s. Once we pay off all of our student loans,... Read More
Saturday, 19 May 2018 14:19
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How Debt Collectors Find Out Where You Work

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If you think you’re safe from debt collector calls at work, think again. You’d be surprised at how much information a debt collector can find out about you with a few phone calls and internet searches. Debt collectors may call your job looking for you, particularly if they’re not able to get in touch with you any other way. You may be surprised to learn some of their tactics. Your original creditor. When you first applied for your...
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Frank
I have read and experienced through friends/family that these debt collectors can be horrible to deal with and a huge pain in the ... Read More
Saturday, 19 May 2018 14:18
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How to Get the Most From Your Credit Card Rewards

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 There are some rewards credit cards on the market right now. Most rewards credit cards are currently offering a great signup bonus if you meet a minimum spending requirement in the first few months of having your credit card. Earning credit card rewards gives you an extra benefit for spending you would have done anyway. Here are some tips for getting the most out of your credit card rewards. Pick the right rewards credit card. With...
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Wanderer
This offering hits the key points on Rewards. My past cards were without rewards and as a small spender figured it did not matter.... Read More
Wednesday, 28 February 2018 19:02
Frank
My general theme on credit card rewards is stick with a few great credit cards and use those for your big and regular purchases.... Read More
Monday, 30 April 2018 16:45
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9 Things to Know About Credit Card Car Rental Coverage

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Many major credit cards provide car rental insurance, alllowing you to ditch the car rental agency’s expensive daily plan and save money on the cost of your rental. Before you rent, here are a few essential things to know. You must pay for the rental with your credit card. Coverage only applies when you use your credit card or rewards points to pay for the rental. You must decline the car rental agency’s collision damage waiver....
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Frank
Be careful when car rentals try to force their coverage on you. They can be very demanding, but you are usually covered in other w... Read More
Monday, 30 April 2018 16:40
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Three Ways to Earn More Interest On Your Savings

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Having your money in a traditional savings account typically isn’t the best way for it to grow. Sure, it’s safe and easily accessible, but you may have the opportunity to earn more interest on your savings if you move it to another type of account. Here are three ways you can earn more interest on your savings and still keep your funds safe. Switch to an online savings account. Online banks don’t have the expenses of...
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Frank
Buying a CD is going to be the most bang for your buck in regards to a savings account. They rates are still very low, so you shou... Read More
Monday, 30 April 2018 16:39
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6 Tips for Traveling With Credit Cards

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Whether you’re traveling for vacation or for business, the last thing you want is to run into issues with your credit card. That kind of stress can make it difficult to enjoy your trip and worse, leave you without a source of funding. Here are a few tips to keep in mind while you’re traveling to make sure your payment methods are protected. Let your credit card issuer know if you’re going out of the country....
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Frank
No matter where I can traveling to (domestic or international), I always call my credit card company and let them know. It helps e... Read More
Monday, 30 April 2018 16:38
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What You Should Know About Credit Card Foreign Transaction Fees

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The foreign transaction fee isn't the most common credit card fee, but it’s one you should look out for even if you don’t travel frequently. A foreign transaction fee is charged as a percentage of purchases or ATM withdrawals you make in other currencies. Typically, you’ll pay around 3% of the transaction in a foreign transaction fee. That’s $3 on a $100 transaction. It seems like such a small fee, but if you’re frequently making transactions...
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Frank
Any time I have traveled internationally, I always call the credit card company to (a) tell them I am traveling abroad, and (b) as... Read More
Monday, 26 February 2018 15:42
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5 No-Fail Steps to Meet Your Savings Goals

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Saving money isn’t the easiest thing to do, especially if you’re not a saver by nature. But with a solid goal and a clear plan, you can meet your own personal savings targets. Here are a few steps to take to make it happen. Set a goal. To be able to meet your savings goal, first you have to set one. Don’t just set your goal based on a random number you pull from thin air....
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Frank
Having someone else accountable really helps as well. For example, my wife and I both help each other meet our savings goal!... Read More
Friday, 23 February 2018 14:31
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5 Steps to Take If You Get a Raise This Year

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All your hard work has finally paid off and your boss has just informed you that you’ve received a raise effective on your next paycheck. Many people automatically start thinking about how much additional money they’ll be able to spend each month. It’s understandable that you want to use your extra money to improve your life, but makes sure you’re being smart about it. Don’t assume anything until you see your paycheck. A 5% increase in...
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Frank
My wife and I were both lucky enough to get a raise this year. We decided to increase our debt payments up the same amount. This w... Read More
Friday, 23 February 2018 14:29
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What to Know About Instant Approval Credit Cards

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When you apply for a credit card, you probably want to know whether you’re approved right away. Thanks to technology, there are many credit cards that can give you an instant approval decision in under a minute. If you apply for a credit card online, chances are, the credit card issuer will be able to tell you right away whether your application is approved. Instant Approval vs. Guaranteed Approval When you’re making an application, keep in...
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