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What to Do with Your Extra Paycheck in March?

If you get paid weekly then be prepared for an extra paycheck this month. It is the first month of the year in which you will get five paychecks instead of four. Put that paycheck to good us with the following ideas. Most of us in our budgets, plan a budget per month. The monthly budget will contain a set amount of income over four weeks. March, however offers five weeks of paychecks. This means that you can have an extra paycheck this month that might not have been accounted for in your income. Take that extra paycheck and see … Continue reading →

Watch Those Terms

Credit card companies can be sneaky at times. They will change your terms and send a wordy document filled with legal mumble-jumble with your bill to alert you of these changes. Most people either don’t notice the extra paper or simply ignore it. If you aren’t careful, this can cost you money. The law allows credit card companies to change their terms at any time, with simply 15 days notice to the customer. This can be something as simple as your due date to more costly items like fees and interest rates. Usually, if you use your card after you … Continue reading →

Understanding Interest Rates

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After many conversations with friends and family, I realized that a basic understanding of how interest rates work for borrowing and investing was missing from the general population. Many families are faced with the decision as to where to put their money, after they have paid all their basic expenses. Should they place it in a savings account or pay off their credit cards? This consistent discussion actually led me to write an article on this same subject for the Dollar Stretcher. The main struggle appears to come from understanding the overall affect of the interest rate. The Prime Rate … Continue reading →

Surviving Rising Interest Rates

Interest rates are on the rise. We’ve been in an environment of rising rates since 2004 and all indicators are that the Federal Reserve is ready to boost them again. The current environment of rising rates can play havoc with the average family’s budget. Here are some suggestions for keeping the impact to a minimum: 1. Take stock of any debt you have that has a variable interest rate. A variable interest rate is any rate that isn’t fixed, and therefore fluctuates over time. Examples include variable rate mortgages, home equity lines of credit, and credit cards. The interest rates … Continue reading →