Should I Give My Teenager a Gas Budget? Remember when gas prices were at the highest levels in history just a few short months ago? Like most drivers, you probably curtailed your use of the car and used public transportation instead. Did your teen use the family car and if so, did he or she pay for the gas? Thinking back to when we were teens, it was probably unthinkable to ask our parents to pay for gas whenever we used the car. At that

Credit Card Articles & News

Mortgages Explained There are several types of mortgages that are available, notwithstanding the sub-prime mortgage crisis and its effect on homeowners. 1. Fixed rate mortgage – This is a mortgage where monthly payments remain the same throughout the entire term of the loan. Note that there are two types of fixed rate mortgages: 15-year and 30-year. The benefits of both are described by Bankrate in this way: “With 30-year loans, borrowers generally get lower monthly payments even though their rates are higher. That’s because the

Invisible Money: Credit and Debit Cards

Undoubtedly, your children have seen you use a credit or debit card when you shop and wanted to know about them. Explaining the difference between credit and debit cards and their function will take some time, as well as a few tools to illustrate their use. Probably the best way to explain what each card is for is to demonstrate by using visual tools. For example, take out a debit card and a credit card. Use a label or scotch tape a piece of paper

Living on Credit: The Hidden Dangers

This current economic crisis has caused a tidal wave of debt and the inability to pay down such debt. Regardless of whether it’s mortgages, credit cards, or other loans – living on credit has become the norm rather than the exception. We all know the hidden dangers of incurring too much debt. Some may not be able to afford to pay more than the minimum monthly balance due on credit cards. This just adds more stress to an already problematic situation. Moreover, due to the

Walking Away from Your Home?

Becoming a homeowner is one of the happiest events in many people’s lives. But when times get tough, it can be difficult to scrape up the money to pay mortgage payments each month. If you’ve accumulated enough equity, you can sell your home at a profit and get on with your life. But what happens if you owe more on your home than it’s worth? Many homeowners face the heart-wrenching decisions associated with these problems. Some choose to negotiate with their lenders, hoping for a

Pros and Cons of Buying Foreclosure Properties

In the best of times, foreclosures happen. When the economy tanks, they happen much more frequently. This is devastating to those who lose their homes, but it presents an opportunity for real estate investors and those who want to get a great deal on a home for themselves. It’s no secret that foreclosed properties are sold at much lower prices than your average home. But are they really worth it? Here are some pros and cons to think about before you spend your money on

What Is “SHARE” (Sharing Helping Always Rewards Everyone)?

The SHARE Food Network began in San Diego, California. It distributes high quality, affordable and nutritious food in order to build communities and strengthen families. The goal or theory behind the process is that you donate some of your time each month to a community task. This volunteer service can be at your library, community center or even your local SHARE distribution location. Any other random act of kindness such as helping neighbors, teaching Sunday school as well as other community service which you are

Money Saving Ideas on the Weekend

Although money may not always be in abundance for activities for the entire family, this doesn’t mean your family needs to miss out on some well-needed time together. Enjoying each other’s company is an important aspect of everyone’s life. There are many different educational, economical and fun ways your family can have fun together. We’ve come up with some ideas as to how you can still engage in some family-oriented activities for fun family activities, making memories together during these times where money isn’t always

How to Live on a Lower Incom

Experiencing a drop in income can send us into a panic and our budgets into a tailspin. Unfortunately, it can happen to just about anyone. You or your spouse could be laid off, work could dry up if you’re self-employed, or you or someone in your household could fall ill. Times like these call for drastic money-saving measures. If you have adequate savings, you will be able to live off of that for a few months. But whether you have an emergency fund or not,