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Women And Finances

Women And Finances
by Takara Alexis

With the combination of later marriage, divorce, widowhood and longevity, almost 90 percent of women will end up maintaining their finances by herself at some point in their lives, according to the Department of Labor.

Despite upbringing, income, marital or motherhood status, a woman needs a solid base of financial knowledge to help set them up for that responsibility. Because a majority of women will be on their own financially at some time in their lives, financial education isn’t wasted. Knowledge can give women confidence that if challenged with being unexpectedly single, they are able to handle it.

For women who hardly have any experience in managing money or none at all, taking small steps can help. Reading websites, magazines and books about financial topics or taking a community college course can provide a great foundation. Professional financial advisors can help as well. Read full article…

Tags: Finances

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FTC Cracks Down on Debt Collectors

With personal debts constantly growing to record highs, debt collector harassment is also growing. Many consumers have filed complaints about the treatment they have received from debt collectors trying to collect on debts they owe. These complaints include debt collectors calling at hours that may be either too early in the morning or too late in the evening, often thought to be unreasonable to consumers. Other complaints include debt collectors threatening consumers, attempting to collect more than is owed or harassing relatives and coworkers about debts.

The FTC has begun to take stronger measures against debt collectors for harassment due to the number of complaints that have been filed by consumers. Consumers who know their rights may be able to take steps to help reduce existing debt collector harassment or prevent further harassment. While this does not erase the debt, for those who are being harassed over debts they do not owe it can help eliminate the harassment by taking action against it. Read full article…

Tags: Collectors, Debt Collectors

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Repaying Christmas Bills

Starting off the new year with leftover Christmas bills? Wonder how you’ll pay them in this tight economy? Well, you’re not alone. Most years the average consumer hasn’t finished paying his holiday credit card bills until May.

But, it doesn’t have to be that way. Let’s see what we can do to get out from under those holiday bills. Let’s take a two step approach. First, we’ll look at some techniques that could take a big bite of the debt. Then we’ll follow up with some slow but steady solutions.

The first method is for people who have equity in their home and have not already refinanced. If your mortgage rate is at 6.5% or higher a refinance could reduce your monthly payments. We’re not suggesting taking equity out of your home. Just use the monthly saving to pay down the credit card bills.

Another one shot solution is to reduce the cost of home or auto insurance coverage. You could save hundreds. Begin by calling your current agent and ask if he has any suggestions on changes in coverage. Then get comparab Read full article…

Tags: Bills, Christmas Bills

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Who Should Consider Debt Management

Success stories can be found where debt management is concerned with many consumers coming out the other side debt free and with a better understanding of their finances and what credit can and cannot do for them. While debt management is successful in many instances, who should really consider debt management? Are you a candidate or should you consider something else? Debt management is not one size fits all, so where do you go from here?

Debt management is a great option for those who can no longer make their minimum payments. If you cannot make minimum payments your debt will only increase. This is when the stress comes in with calls and letters from the creditors demanding payments that you are unable to make. Debt management is a way out of the stress for those who can no longer make their minimum payments.

If you have tried to make new payment arrangements with your creditors and they will not work with you, debt management is a wonderful option.

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Tags: Debt Management, Management

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Kardashians target teens with prepaid credit card

Reality TV show star Kim Kardashian wants your teen to shop with a prepaid credit card. The Kardashian Prepaid MasterCard was recently launched at a New York nightclub, according to the ABC News. The prepaid credit card allows a parent to put money on the card and keep track of their teens’ spending via cell phone.

Prepaid cards can limit debt

Using a prepaid credit card can allow cardholders to avoid wracking up huge amounts of credit card debt. Prepaid credit cards are popular with people who have bad credit or no established credit history, as well as people with low to moderate incomes. Other people use prepaid credit cards to limit their spending as part of a debt reduction plan.

Because many prepaid credit cards require people to pay fees to activate them or when making a purchase, it’s important to read through all the terms and conditions before signing up.

Encouraging spending

It’s odd that MasterCard would team up with Kardashian, who is known for her lavish lifestyle and not as an example of fiscal restraint — she recently spent $30,000 on a purse, a representative for Mobile Resource, which is the company releasing the prepaid credit card, told ABC News. It’s ev

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Tags: Card, Credit Card, Prepaid Credit, Prepaid Credit Card

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