Thursday, March 24, 2016

Debt as a Matter of Life

Credit cards make debt, not safety nets

Disclaimer: There are times when going into debt is simply unavoidable. Unexpected bills, a loss of income or major life changes can throw anyone's finances off. Those are not the people I'm talking about here. I'm talking about those who go into credit card debt continually and unnecessarily.

Some time ago, I was sent a link to an article in the Terre Haute Tribune-Star called "Americans Using Credit Cards to Pay for Basics." Unfortunately, the page is no longer online, but it was disheartening to read. It's not because I think times are so tough that people are having to go into debt just to survive, but I hated it because it showcased people who really don't know how to survive without credit cards. It even evokes sympathy for them.

Thursday, March 17, 2016

Easter is on its way

Keeping costs down at Easter time can be frustrating. Those big, beautiful and pricey Easter baskets and popular retailers seem to make fun of smaller efforts, but you can create an Easter basket that looks just as good (or better!) for much less.

The Basket

Start at your local dollar store or low cost outlet. I have seem some intricately designed wire woven baskets for a dollar bill that would thrill a girl of any age. The baskets could be used later to hold things on a dresser or in the bathroom.

Traditional woven baskets are cheap at dollar stores, too, but the ones I have seen are not sturdy enough for a day's worth of egg hunts. Try thrift stores, and go now before the Easter rush is on. Check thrift store baskets for stains or worn areas that could mean a candy and egg disaster.

Monday, March 14, 2016

Answers To 5 Excellent Questions About Reverse Mortgages

Can you get a reverse mortgage? Should you? What are the pitfalls and benefits of this popular way to use your home for retirement income? Guest author Matt Allen answers these and more questions that will help you really understand what reverse mortgages are all about

When is a homeowner eligible for a reverse mortgage?

In the past, a homeowner only needed to be 62 and have enough equity in their home to qualify. Today there are several other things that come in to play as far as being eligible for a reverse mortgage.

You need to pass the financial assessment. The whole purpose of the assessment is to look at your willingness and ability to pay your taxes and insurance. They look at your credit history, your mortgage / rent payment history and your property tax and insurance history for the last two years. You are also required to have a minimum disposable income based on household size and region you live in.