Financial literacy is the facility to apply skills and knowledge to make wise financial decisions. Gaining these skills and knowledge is an ongoing process that begins in childhood. Most states don’t have financial literacy requirements in education. It is on the parents and the children themselves to gain the necessary knowledge and skills. Unfortunately, many parents are as uncomfortable discussing money as they are discussing sex. They’re concerned about saying something wrong…

If your heart is set on perfection, rather than reaching for that perfect 850, a more healthy goal is to aim for the 800+ club. Earning a credit score of 800 or higher will put you well within the ranks of the credit elite. No one else will receive a better loan than you, and no one will pay lower interest rates. How do you join the credit elite? It starts with developing the right credit habits and then gradually allowing them to build over time. Here are seven habits that will help pave your…

The nation’s student loan debt is over $1 trillion and is not only larger than the country’s collective credit card debt, but there are also 5 million ex-students that are delinquent with their payments. Student loans are unique in that they’re one of the few debts not discharged with bankruptcy. Only a federal judge can let you out of your obligation to pay and they don’t do that often. The only reliable way to get out of your student loans is to pay them off. This process…

Anyone with credit card debt knows just how challenging it can be. Interest rates are averaging 13 to 16 percent, and it’s not easy to get ahead once you have this type of debt. If you have debts with high interest rates, make paying these a priority. It will bring you a lot of relief to pay them off as soon as possible and be rid of them. These steps will help you eliminate your credit card debt:  

Because very few high schools offer courses in personal finance, the challenge of financial education for your children rests squarely on your shoulders. The earlier you start teaching your kids about money, the easier it will be for them to grasp sound financial habits that can serve them well for the rest of their life.

While your credit card company might like to pretend they have your best interests at heart, it turns out that’s not always the case. Credit card companies, like most other businesses, have ‘loopholes’ in place to drain every cent they can from you. Being aware of these tactics is the best defense. Otherwise, you’ll be paying astronomical interest rates and navigating through a minefield of penalties that are only mentioned in the very fine print of your credit card agreement.…

You should always expect the unexpected! You can be prepared for the unexpected by having an emergency fund set aside. An emergency fund is the best defense against a financial emergency.

Bankruptcy is a very scary term to most people. Many who are considering filing for it are already in a highly stressful situation. Bankruptcy is a tool that exists in order to give people a second chance when there doesn’t appear to be any viable alternatives. Just be certain it is the best tool for your situation.  

Paying bills every month can be pretty monotonous, yet overwhelming. If you have the responsibility of taking care of your own bills, you can definitely relate! Unfortunately, managing bill payments is an essential part of adult life.  Paying your bills each month is essential so continue to have the services you need and the credit you've earned without interruption. However, that doesn’t mean you are always on top of getting those bills paid.

Buying a home is surely a great achievement for you and the rewards can be very exciting. There's so much you can do now that you have this asset under your belt. What you'll now realize, however, is that your bank account has started to behave erratically! You're seeing money moving out of your account faster than ever before. Or so it seems. What you're experiencing is a clear case of a budgeting dilemma for a first time mortgagee. It's completely normal to feel like you've…